A review of DXY combining Harmonic Trading with Supply & Demand
Hey traders, I am going through a course at OTA conducted by a friend Jeff Manson right now.
I am reviewing some setups which failed for me last week.
Dollar Index Daily Chart
Upon reviewing the chart, I realised that this should be the right way I should draw my shark pattern.
Always choose the deeper B leg as your correct B. (Compare this to the other Shark Pattern I have draw earlier)
Mapping in my PRZ, I realized that price tried to close below the PRZ but failed.
Based on something new I just learnt, it happens to be also a demand zone which happened back in February.
*I am still learning and I could be wrong about the way I map the zones*
This is a pretty interesting concept and I am absolutely confident that DXY will hit at least 100.73 based on the TP1 rules of the Shark pattern.
By combining S&D with Harmonics, I guess it should be safe putting my SL just below point D with a small buffer.
Redoing this trade can easily net me a 1:3 R:R on my trade.
Another lesson learnt today and I am definitely gonna read some more books on this way of trading.
I am reviewing some setups which failed for me last week.
Dollar Index Daily Chart
Upon reviewing the chart, I realised that this should be the right way I should draw my shark pattern.
Always choose the deeper B leg as your correct B. (Compare this to the other Shark Pattern I have draw earlier)
Mapping in my PRZ, I realized that price tried to close below the PRZ but failed.
Based on something new I just learnt, it happens to be also a demand zone which happened back in February.
*I am still learning and I could be wrong about the way I map the zones*
This is a pretty interesting concept and I am absolutely confident that DXY will hit at least 100.73 based on the TP1 rules of the Shark pattern.
By combining S&D with Harmonics, I guess it should be safe putting my SL just below point D with a small buffer.
Redoing this trade can easily net me a 1:3 R:R on my trade.
Another lesson learnt today and I am definitely gonna read some more books on this way of trading.
