DayTrade Signals with Harris Tech

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Okay...


So lets talk a little about Forex markets and what I see from my eyes based on my methods and charts for the position trading perspective. I dont position trade, but I watch for it, it helps me know the overall picture.


EURUSD: The overall Trend is DOWN, with a pullback of 50-70 ticks is expected before it dives again for another 100-150 ticks within next few days. I wont LONG it for no reason and wont even call it that it has bottomed. Its a downtrend and it can keep on going lower and lower, ofcourse with pullbacks. If it breaks 1.2150, that would become a no trade Zone and if it breaks 1.2200 it becomes a LONg to be entered aftrer a pullback. At the movment everything is saying that we can see more downfall on it in days to come. If trend continues to go down, We can see levels of 1.1400 in few weeks. Note that trend on EUR has remained HIGH for over 3 years on weekly charts and its the first time in last 3 years that trend has broken into downward, which can result is a real downfall on EUR and chances are we can see 1:1 on EURUSD pair in few months time.


USDJPY : Okay the daily picture is favouring LONGS. We will see a little bit of pullbacks of 40-50 ticks and if the trend remains intact it can fly up for another couple of hundred ticks. Its all looking very strong, however i must say a pullback is due. It needs to break 112.40 for us to start thinking of taking shorts. Weekly picture is also very stong but is showing it has hit its first initial targets and is ready for another step up but that would only be possible after a pullback 112.65 levels for another ride up for 500 ticks or so more.

Note : Its just a matter of what time frame you are watching. Intraday, Ticks, daily or weekly. If weekly is saying LONGS doesnt mean intraday has to say the same. I just use the daily and weekly timeframes for the relatiove direction. Ofourse I am a day trader and I remain a daytrader.


Cheers
:):):)
More...


Something I posted a month back
 
Hi all...

Here is what my stuff is saying about various markets ( position trading term). Many can take it as a guide as to where the markets are heading and adjust their current positions accordingly, others can trade it right away and open up positions and yet many daytraders can advantage from the trend it portrays.


EURUSD:

Daily picture is saying trend is still opting for SHORTS, it was a valid pullback on daily with a trigger to go short from 1.1830 for a quick gain of 200 ticks or so, but that was just few days back. We can see lows of 1.1580 soon within few days after getting a pullback of 70-90 ticks from current levels (1.1725).

Weekly picture is still sayin we are going down with first targets of 1.1480. However a pullback to the levels of 1.2000 is first gonna be seen within next 4-8 weeks before it dives that low.




USDJPY:

Daily picture is saying trend is still opting for LONGS, it was a valid pullback on daily with a trigger to go LONG from 118.40 for a quick gain of 200 ticks or so, but that was just few days back. I cant say for sure which levels it would be seeing as the first major targets on daily time frame as everything on it is overbought, but as far as trend remains the freind it can go higher and higher.

Weekly picture saying a pullback to go LONG from116.90 in next 4-8 weeks for another ride up for 300-500 ticks on this one.





Note : If you are a position trader, the way I do things is this that I mainly watch daily time frames to enter trade, if somehow I miss those levels for whatever reason and couldnt get in but thigs still look good, I use weekly timeframes then and their levels to give it another try.



I will try to comment on Bonds. Notes, Russel and SP markets soon within a day or so.

See ya :)
 
I hope ppl made money on both EURUSD and USDJPY levels and direction :)

I am just been busy with my own trading and setting up few other things.

Cheers
 
Quote from harris_tech:




EURUSD:



Weekly picture is still sayin we are going down with first targets of 1.1480. However a pullback to the levels of 1.2000 is first gonna be seen within next 4-8 weeks before it dives that low.


See ya :)
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Time to fill in. Go tigers GO
 
I hope everyone is doing fine.

I am just busy on my trading and hopefully sooner or later I will try to make this thread a little more warmer again!

Cheers
 
If harris_tech would like to defend himself he will need to do it at the link provided above, not here. Until such time I can see no reason for this journal to remain open.
 
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