Disliked{quote} Mr. Pip, Thank you so much taking time to reply to my questions Actually i am lucky to find an experienced trader like you here to solve my confusion and gain experience from you. Q1: Actually , i am still confused about xa You replied " Clear highs and lows" , and my question is , in what range on chart ? or time period ? As example, third picture you posted in your reply, we may choose prior high before what is actually selected in chart and will form a correct and a valid percentage correction forming B point Q2: from your experience...Ignored
QuoteDislikedQ1: Actually , i am still confused about xa You replied " Clear highs and lows" , and my question is , in what range on chart ? or time period ? As example, third picture you posted in your reply, we may choose prior high before what is actually selected in chart and will form a correct and a valid percentage correction forming B point
Look for obvious swings. visually clear highs and lows like in the first two examples. The last one was an example of forcing a pattern into price action. Although some of those will work out the patterns weaken when we force them into PA. These patterns occur on any time frame or price interval so look for them on your trading time frame. I have posted the ones I trade and the rules I use in the thread written rules and a visual reference. Look in the attachment section and you should be able to find them if not PM me and I will send it to you.
QuoteDislikedQ2: from your experience in harmonic, what can make me a successful harmonic trader ?, please guide me. Q3: i hear about a newly discovered harmonic shapes , like "Dragon" , is that a right one ? and based on what this is right ? and why ?
This is a complicated question to answer. There is a lot of garbage out there. I would tell you that if you want to learn pattern harmonics the source is Scott Carney I would not learn from anyone else. He has made it his life work. You can Google him and he does live trading sessions and has software and indicators if you are into them. I would also tell you that there is not possible to master and trade them all. Find the ones that are easier for you to spot. Master three to four of them and you should be good until your proficiency increases. If it is not discovered by Scott then I would not even give it an ounce of interest.
To become a successful Harmonic trader or trader in general one has to become intimately immersed in your chosen methodology. By patient with yourself and with the market. Master emotional control and take the trades on your terms. Be as objective as possible in your approach and decision making. Hold you and only you accountable for the outcome and always have a plan. know what you are going to do in advance so that your actions and decisions are not reactionary.
QuoteDislikedQ3: i hear about a newly discovered harmonic shapes , like "Dragon" , is that a right one ? and based on what this is right ? and why ?
Don't be fooled into listening to these clowns that are out them to make money selling you garbage this business is full of them. When it comes to Harmonic Patterns if it does not come from Scott Carney I would not even look at it.
QuoteDislikedQ4: Is there a harmonic trading with time ? or is there a time expectation for formations of xa, ab,,,,cd , like ratios 61.8,50,, ? Thank you in advance for your valuable reply and help
These formation occur on all time frames or chart intervals and there is no specific time expectation for the formation to complete. Formation symmetry is important to some extent but not a disqualifying component to the pattern. The first half and second half should be relatively symmetrical. Every pattern has ratio requirements that must be met. Again look in the attachment section for the rules I use which differ some from Scotts' and look him up.
If you fail to plan, you plan to fail.