DislikedMr. Pip, i was trading forex last 5 years but recently i read some books on Harmonic trading. It looks very interesting to me then i started to test these. But my initial experience was getting stumbled in some area. could you please guide me? 1) Whenever i tried to sell CD leg getting stopped out most of the time and observing the pair setting a new C and then falling exactly upto the PRZ. How to overcome this? 2) many times i find the price passing through the PRZ tripping SL , even if sometimes it gets a initial bounce from PRZ also coming back...Ignored
On the first chart for your main swing (X,A) looks a little wrong. The pullback midswing looks too deep and thus only the last bull movement could be called the main swing. In this case then there is no pattern.
On the second chart the A,B leg doesn't look deep enough. The B point hasn't made a new LL from the previous bull candle and is indecisive so naming it a "B" low could be dangerous as the bulls at this stage still look in control. I know what I just wrote doesn't sound right but correctly speaking the duration of each leg should be the same, it's just something you get used to looking at.
Don't force the patterns and weed out those that are doubt.
Hope this helps.
Cheers,
Matt.
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