Patience pays off. Long term JPY currency weakness is the only defect with this setup. Harmonic Pattern works most of the time. Problem is we have to wait for another confirmation or else, the setup usually get stopped out all the time.
Lesson and Analysis:
Better wait from the overweak/overstrong pairs to develop more confirmation to enter the market. The strategy still intact. Patience when no pattern emerged like today. Wait for better entry and let the market do its work.
Things to do:
Currency Strength as a filter. Wait for better entry for extreme pairs, like ADX divergence and RSI. Lower lot for less probability trade to avoid from miss the train.
Conclusion:
Harmonic Pattern is a very powerful tools to trade, but it is very complex and needed to trade with other things. The key is manage lot number. Enter small lot for worse price and bigger lot for best price. The worse price may become profitable and if not it only hurt a little to equity.
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