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Harmonic trading-harmonic patterns

  • #361
  • May 1, 2019 1:25pm May 1, 2019 1:25pm
Oil Update
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  • #362
  • Edited 3:47am May 6, 2019 3:17am | Edited 3:47am
Quoting Amir_Forex
{quote} . {image} {image} {image}
Thanks a lot amir for your assistance.
I am trying to improve myself on those pattern reorganization, (AB = CD) especially on how to trade the CD part. At this stage I can only trade the pattern after it has been formed, even at that after entry at the PRZ I don't really know where to place my target. Now where do you think the target should be (at what fib level do you use as target)? Thanks Note: chart is valid on M5, M15 and M30.
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  • #363
  • May 6, 2019 5:40am May 6, 2019 5:40am
Quoting alphabear
{quote} Thanks a lot amir for your assistance. I am trying to improve myself on those pattern reorganization, (AB = CD) especially on how to trade the CD part. At this stage I can only trade the pattern after it has been formed, even at that after entry at the PRZ I don't really know where to place my target. Now where do you think the target should be (at what fib level do you use as target)? Thanks Note: chart is valid on M5, M15 and M30. {image}
Just to mention.

Patterns should also be harmonic over time.

Your first half and second half are very asymetric in terms of time needed to complete which is not a good thing.

Asymmetric setups often suggest support and resistance areas only, not the underlying pattern. So maybe you can also analyze if trading either the resistance or new support if the resistance is broken is worth it.
  • #364
  • May 6, 2019 6:44am May 6, 2019 6:44am
Quoting scherzi
{quote} Just to mention. Patterns should also be harmonic over time. Your first half and second half are very asymetric in terms of time needed to complete which is not a good thing. Asymmetric setups often suggest support and resistance areas only, not the underlying pattern. So maybe you can also analyze if trading either the resistance or new support if the resistance is broken is worth it.
Thanks Scherzi. I never knew I had to check for symmetry, I focus mostly on the fib levels that defined the pattern, and the terminal bar at the pattern completion (at the PRZ). The trade was taken at the daily (D1 TF) support level, I saw that from my analysis but I just follow the system which is the Gatley pattern.
  • #365
  • May 6, 2019 7:53am May 6, 2019 7:53am
Quoting alphabear
{quote} Thanks Scherzi. I never knew I had to check for symmetry, I focus mostly on the fib levels that defined the pattern, and the terminal bar at the pattern completion (at the PRZ). The trade was taken at the daily (D1 TF) support level, I saw that from my analysis but I just follow the system which is the Gatley pattern.
H.M. Gartley described it on his book, "Profits in the Stock Market" back a century ago.

Scott M. Carney wrote "The Harmonic Trader" and the three volumes of "Harmonic Trading". The last volume is copyrighted on 2016, at least my copy. It is really new. In these books the new patterns are added: buttefly, bat, crab, 5-0 and so on. Also the Gartley 222 is analyzed. I think is the most important work on harmonic trading I have ever read.

Scott all the time insists in the importance of harmonic timming as a requisite to validate the pattern.

That is the reason I have mentioned it.

I must say I do not trade these patterns, but only use them to better understand the market situation and the general price structure. Since I usually prefer trading harmonic levels rather than harmonic patterns or use only these levels to find convergences, I have observed also the convenience of these mentioned PRZs to establish support and resistance levels even when the time required to complete each segment has not been reasonabily symmetric.
  • #366
  • May 6, 2019 8:26am May 6, 2019 8:26am
Quoting scherzi
{quote} H.M. Gartley described it on his book, "Profits in the Stock Market" back a century ago. Scott M. Carney wrote "The Harmonic Trader" and the three volumes of "Harmonic Trading". The last volume is copyrighted on 2016, at least my copy. It is really new. In these books the new patterns are added: buttefly, bat, crab, 5-0 and so on. Also the Gartley 222 is analyzed. I think is the most important work on harmonic trading I have ever read. Scott all the time insists in the importance of harmonic timming as a requisite to validate the pattern....
That's okay I'm really trying to understand this harmonic levels. All I have known is from the 9min video clips I have watched on YouTube and harmonic.com by Scott Carney. Thanks. Please do you mind sharing some material with me, anything at all that would aid me in becoming a better trader?
  • #367
  • May 6, 2019 8:32am May 6, 2019 8:32am
Quoting alphabear
{quote} That's okay I'm really trying to understand this harmonic levels. All I have known is from the 9min video clips I have watched on YouTube and harmonic.com by Scott Carney. Thanks. Please do you mind sharing some material with me, anything at all that would aid me in becoming a better trader?
It is the same path as any other trading methodology.

You need to stay studying, researching and practising for a few years until you get used to it. All in demo and simulation.

Trading is quite difficult.
  • #368
  • May 6, 2019 8:59am May 6, 2019 8:59am
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  • #369
  • May 6, 2019 9:16am May 6, 2019 9:16am
Quoting alphabear
{quote} Thanks a lot amir for your assistance. I am trying to improve myself on those pattern reorganization, (AB = CD) especially on how to trade the CD part. At this stage I can only trade the pattern after it has been formed, even at that after entry at the PRZ I don't really know where to place my target. Now where do you think the target should be (at what fib level do you use as target)? Thanks Note: chart is valid on M5, M15 and M30. {image}
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Patterns have an underlying mathematical structure.
  • #370
  • May 7, 2019 7:47am May 7, 2019 7:47am
Quoting Amir_Forex
{quote} . {image} {image} {image} {image} {image} {image} {image} {image} {image}
Amazing, Amir.
Thank you.
  • #371
  • May 7, 2019 12:12pm May 7, 2019 12:12pm
Eventually upcoming.
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  • #372
  • May 7, 2019 12:17pm May 7, 2019 12:17pm
Crude Oil.
I like this one.
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  • #373
  • May 19, 2019 8:03pm May 19, 2019 8:03pm
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Patterns have an underlying mathematical structure.
  • #374
  • May 20, 2019 2:10pm May 20, 2019 2:10pm
Quoting Lou
{quote} Wow, thanks... If I am an expert, heaven help the novice. Maybe he meant ' harmonica ' ... I used to be pretty good at that. Seriously, I am enjoying my work with Gann and the Square of 9. Lou
Lou I need so a assistance I also use harnomics was doing good but I'm drawing them wrong now... Wrong impulse leg... Do you have a YouTube channel.... Please help +27815899269 WhatsApp and telegram
  • #375
  • Jun 5, 2019 6:30am Jun 5, 2019 6:30am
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Patterns have an underlying mathematical structure.
  • #376
  • Jun 7, 2019 10:15am Jun 7, 2019 10:15am
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Patterns have an underlying mathematical structure.
  • #377
  • Jun 10, 2019 9:19am Jun 10, 2019 9:19am
NINJA Update
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Patterns have an underlying mathematical structure.
  • #378
  • Jun 11, 2019 11:46pm Jun 11, 2019 11:46pm
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Patterns have an underlying mathematical structure.
  • #379
  • Edited 3:24am Jun 12, 2019 2:17am | Edited 3:24am
Quoting Amir_Forex
{image}{image}

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Patterns have an underlying mathematical structure.
  • #380
  • Jun 18, 2019 8:28am Jun 18, 2019 8:28am
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Patterns have an underlying mathematical structure.
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