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Harmonic trading-harmonic patterns

  • #61
  • Oct 29, 2007 8:13am Oct 29, 2007 8:13am
Quoting bunjow
Shoot! I slept through an alarm for a great entry!

Check out the price action in the zone... Now that's what we want to see baby!

(In hind site, I think maybe I should have set my alarm for a lower price level anyway, given the action that happened.)
I took that trade and it's pretty good, plus if you look at the weekly chart we have a bullish pattern, it has the potential to shoot HIGH in the coming weeks/months.
Trade what you see, not what you think.
  • #62
  • Oct 29, 2007 8:31am Oct 29, 2007 8:31am
That's great Karmo! I don't look at charts longer then an hour anymore, too much on my plate already. Also I prefer the short trade period if possible. GL man!

At least it's helping my cursed NZDUSD trade!

Looks like another possible setup right now with GBPJPY....
Attached Image (click to enlarge)
Click to Enlarge Name: Bearish BUTTERFLY GBPJPY.GIF Size: 22 KB
  • #63
  • Oct 29, 2007 8:33am Oct 29, 2007 8:33am
Quoting bunjow
That's great Karmo! I don't look at charts longer then an hour anymore, too much on my plate already. Also I prefer the short trade period if possible. GL man!

At least it's helping my cursed NZDUSD trade!

Looks like another possible setup right now with GBPJPY....
Thanks bunjow

I'm short GJ too from 236.60 based on my own analysis, but yea that pattern is a good confirmation
Trade what you see, not what you think.
  • #64
  • Oct 29, 2007 8:56am Oct 29, 2007 8:56am
This one looks interesting. It blew through the first possible zone for a BUTTERFLY pattern and now it looks like the "last chance" BUTTERFLY zone might be providing some resistance. Best to at least wait for a Bear candle before making a decision I think.
Attached Image (click to enlarge)
Click to Enlarge Name: last chance BUTTERFLY EURCHF.GIF Size: 19 KB
  • #65
  • Oct 29, 2007 9:39am Oct 29, 2007 9:39am
Just jumped in on the GBPJPY short, let's see how that goes...
  • #66
  • Oct 29, 2007 10:01am Oct 29, 2007 10:01am
dammit! Why do I always wait 'til AFTER to check these things?!!

Looks like that GBPJPY might be on it's way to complete #5 point on a Wolfe Wave.

Unless the price breaking through the 2-4 trendline invalidates it? I don't know.... If anybody is knowledgeable on WWs, I would appreciate your opinion. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: possible WW.GIF Size: 45 KB
  • #67
  • Oct 29, 2007 10:34am Oct 29, 2007 10:34am
At least the possible WW reversal zone (as described by SliverB) is only measured at 237.01 to 237.30, which is nowhere near the area it should be.

There's hope yet.....
  • #68
  • Oct 30, 2007 10:40am Oct 30, 2007 10:40am
Hi there,
Would you mind me asking what Indicator/software you are using to generate
the Gartley patterns ?

Cheers
hifx
  • #69
  • Oct 30, 2007 2:43pm Oct 30, 2007 2:43pm
GJ bearish pattern

http://img229.imageshack.us/img229/7349/gjko5.gif
Trade what you see, not what you think.
  • #70
  • Oct 31, 2007 8:29am Oct 31, 2007 8:29am
Quoting HIFX
Hi there,
Would you mind me asking what Indicator/software you are using to generate
the Gartley patterns ?

Cheers
I don't use any. Just the Fibonacci retracement and expansion tools provided with MT4.

All the patterns have the same basic shape (one large move followed by a zigzag retracement - once you spot this then check the measurements to see if they comply with the patterns at www.harmonictrader.com .)

I think alot of people do use the zup indicator though.... You can search for it on this forum I think.

With all the failures lately, I've given back all my profits from last week and have kind of lost faith in these patterns.....

GL.
  • #71
  • Oct 31, 2007 8:40am Oct 31, 2007 8:40am
wow, really super technical.........like using a lot of geometry and ratios...........only geniuses can trade this way..........
  • #72
  • Oct 31, 2007 12:19pm Oct 31, 2007 12:19pm
Quoting bunjow
With all the failures lately, I've given back all my profits from last week and have kind of lost faith in these patterns.....

GL.
Don't give up we all get better through time.
Just a little thing I have noticed is that the week of NFP can be one of the hardest weeks to trade and we also got intrest rates this week. If your having trouble you just might sit it out until NFP is over and look for better setups next week.

Just a thought.

Your doing good work, Keep it up
Could it be Man is trying to be something without knowing they're complete?
  • #73
  • Nov 1, 2007 5:42am Nov 1, 2007 5:42am
can someone tell me is it a complete hamonic pattern or what..how bout the fibo ratios..tq!!
Attached Image (click to enlarge)
Click to Enlarge Name: terkini.gif Size: 27 KB
  • #74
  • Nov 1, 2007 12:54pm Nov 1, 2007 12:54pm
This is what I see .. cable st scenario .. harmonic pattern
1* 20496 Oct,1
0* 20255 Oct,9

market has bring price to 2.618* 20876<>83
if there is any extention it may try 3.14* and 3.618*
after it breach 1.27* 20550

gl
  • #75
  • Nov 4, 2007 8:26pm Nov 4, 2007 8:26pm
harmonic pattern .. gold
1* 69330 April,22
0* 63960 June,24

extention has reached 3.14* 80822 - 80770

gl
  • #76
  • Edited Nov 7, 2007 2:13am Nov 6, 2007 4:14am | Edited Nov 7, 2007 2:13am
candy st scenario .. harmonic pattern
0* 10342 July,25
1* 10870 Aug,16

price fast approaching extention 3.14* 09212 +/-
after the break of 1.618* 10016

gl




edit

price fast approaching extention 3.618*
after the break of 3.14*
the final extention of the parameter of harmonic pattern by its creator
the only argument left is whether the setup is valid?
current price at time of writing is 09100
run 1,770 pips

gl



ps::
take a look at this short term setup how price action seems to obey the fibo parameter this is worth some pips up and down gl
eu 4h
Attached Image
  • #77
  • Nov 8, 2007 10:06pm Nov 8, 2007 10:06pm
Price has complete the short term parameter of harmonic pattern
at 3.618* 21123 run 867 pips


Quoting forex3e
This is what I see .. cable st scenario .. harmonic pattern
1* 20496 Oct,1
0* 20255 Oct,9

market has bring price to 2.618* 20876<>83
if there is any extention it may try 3.14* and 3.618*
after it breach 1.27* 20550

gl

current price at mid term 3* 21145
cable 4h chart
  • #78
  • Edited Nov 16, 2007 4:53am Nov 15, 2007 7:58am | Edited Nov 16, 2007 4:53am
cable harmonic pattern (short term)

let's look at the retrace key points .786* 1* 1.27*
sometime 1.618* and beyond ..
price has reach .786* 20440<>20 at time of writing

gl



edit

price just hit my own trendline target,1 20355 from high 21163 run 808 pips. the art of trendline pays off yay

gl
  • #79
  • Nov 26, 2007 6:41pm Nov 26, 2007 6:41pm
Quoting Bramhall17
'Profitable Patterns for Stock Trading' Larry Pesavento -- an old book (circa 1999) but a very useful introduction to the above. Cuts through a lot of intellectual fog and outlines 10 major patterns and the trading rationale. Gives the key harmonic numbers for various markets -- not Forex.
He has a new book out now that got me started on this craze. "Trade What You See".. Good Read.

MG
  • #80
  • Dec 5, 2007 8:38pm Dec 5, 2007 8:38pm
Quoting forex3e
cable harmonic pattern (short term)

let's look at the retrace key points .786* 1* 1.27*
sometime 1.618* and beyond ..
price has reach .786* 20440<>20 at time of writing


Price has reach 1* 20243

gl
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