Tag Archives: Elemental Trader

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Harmonic Update

Trading Signals & StrategiesBy frozen June 23, 2011

Today in the trading room we identified two trades. Both were long the Euro in the face of the crisis in Greece. Once again the patterns prove that standing against the herd pays the best. But only if a pattern with solid risk to reward is present. Click on the chart below for a clear…

Harmonic Hump-Day

Trading Signals & StrategiesBy frozen June 22, 2011

Today we are seeing a Bullish Butterfly pattern develop in the GBPCHF pair. This pair is one of the more volatile ones so extra caution is advised. We are long from 1.3488 with stops at 1.3434. The target is move back to and even through 1.3689 so we are risking 54 to make 201 or…

Derek Frey's Harmonic Update

Trading Signals & StrategiesBy frozen June 21, 2011 2 Comments

We are now watching a few bearish patterns coming together in the CADJPY. We have both a Bearish Gartley on the 30 minute chart and a bearish butterfly on the 15 minute chart. So we are looking to short around 82.55 level with stops above 82.89, targeting a move back to the 81.89 level. Risk…

Derek Frey's Weekly Harmonic Outlook for FOREX

Trading Signals & StrategiesBy frozen June 20, 2011

This week we start off without a lot of larger time frame patterns. We are seeing a number of 5 and 15 minute patterns develop and will look to work with some of them early this week. The situation in Greece continues to breed uncertainty which has temporarily led to the markets chopping around in…