can you attach indicator of harmonic ?

regards

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- Joined Mar 2012 | Status: Harmonic Trader | 958 Posts

I noticed you are a harmonic trader, can I bother you with some questions:

1. How do you choose a valid 'X' point on your chart for the harmonic patterns?

2. When there are many patterns on the same chart, what is your thought process of choosing which one to trade, and how do you take a trade in the PRZ?

3. In post 335 above, is that Wolfe wave? If you trade Wolfe wave as well, can we talk about Wolfe wave trading, too?

thank you for your time!

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Hi, in my experience, I choose a swing to trade its harmonics. Price oscillates in thousands of frequencies and wavelengths; I just choose one higher high and one lower low of my choice. Any is good.

It will have a related retracement or extension within the same frequency.

Therefore think in terms of price ranges, channels, swings and fractal price action. At every timeframe the same patterns are generated; what you see as a bar on a specific timeframe, you will see as 100 bars at another timeframe and vice-versa.

You should choose your trading pattern according to the current trend, price position (is it cheap now? is it expensive now?), the probability of winning, the expected profit and risk sizes, and a bunch of other issues you will face.

I hope this gives to you a few tips to conduct your research.