Trading Forex in “Harmony”

It seems like everyone is waiting on the FOMC Thursday including me so I haven't been actively seeking trades but I do have 1 position open since Monday.  I am currently sitting short on the EUR/JPY.  This was traded off the daily charts so I'm looking for a target that is still quite a ways away.  The position is currently at +60 pips and in the past I would have jumped at the opportunity to take the profit but not anymore.  I will stick to my guns on the target for now.   I think it is realistic and was based on technical analysis pre-trade.  I emphasize pre-trade because mine and your technical analysis on 1 chart could be quite different depending on whether you're thinking about entering a trade, currently in the trade, or you were in the trade but now your not.

After a long day at the office and after I've finished various family obligations, I've been trying to read more about chart patterns and market harmonics.  Forex2stay has opened my eyes to the primary use of market harmonics in trading and so I've started to learn more about it.  Market harmonics could be anything related to the recognition of price patterns or fibonacci numbers on any time-frame chart.

I talked about this in a previous post before I was truly interested in it.  That post contains some links if you may be interested in it also.

http://www.forexproject.com/Blog/Investing_and_Trading/Gartley_and_Wolfe_Waves/

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