Harmonic Trading | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Harmonic trading-harmonic patterns 527 replies

TraderPinoy's Harmonic Trading Journal 14 replies

Harmonic trading with stocks? 0 replies

Harmonic trading 2 replies

my video on harmonic trading 0 replies

Attachments: Harmonic Trading
Exit Attachments

Harmonic Trading

  • #1
  • First Post: Aug 21, 2011 8:02pm Aug 21, 2011 8:02pm
Anyone else out there found the most comfortable, definable, highly probable trading methodology on planet earth?

Let's talk harmonics.
  • #2
  • Aug 22, 2011 3:42am Aug 22, 2011 3:42am
i prefer harmonic patterns with price action
Trading by EA
  • #3
  • Aug 22, 2011 12:46pm Aug 22, 2011 12:46pm
Indeed. What types of price action do you like to see?

Do you use a screening service or program?
  • #4
  • Aug 22, 2011 11:56pm Aug 22, 2011 11:56pm
Quoting Unchained
Indeed. What types of price action do you like to see?

Do you use a screening service or program?
i don't like screening services or any program.i just use price action daily high and low support and resistance chart pattern pivots point fibonacci these all are with convergence of level then take a trade with good equity and risk management.
Trading by EA
  • #5
  • Aug 23, 2011 12:41am Aug 23, 2011 12:41am
2 weeks ago i tried the software (free trial /elemental trader) that show the pattern (butterfly,gartley,etc)..looks very good (about 70% accurate )..but then they stop the trial and start sell the software ..Problem is we have to constantly monitor the pairs and different timeframe , since the pattern can appear at 15 mnt to monthly..Anyway it's quite a good I think..
Now I try to spot the pattern manually..

Good Luck !
  • #6
  • Aug 23, 2011 12:52am Aug 23, 2011 12:52am
Maybe this link will be helpful http://www.forexfactory.com/showthread.php?t=209631

cheers
not euphoria follower
  • #7
  • Aug 23, 2011 6:08am Aug 23, 2011 6:08am
Quoting andri66
2 weeks ago i tried the software (free trial /elemental trader) that show the pattern (butterfly,gartley,etc)..looks very good (about 70% accurate )..but then they stop the trial and start sell the software ..Problem is we have to constantly monitor the pairs and different timeframe , since the pattern can appear at 15 mnt to monthly..Anyway it's quite a good I think..
Now I try to spot the pattern manually..

Good Luck !
Sounds interesting. You may like this website: www.fxgroundworks.com

They offer one month free trial, great supporting staff, educational videos, and a nice trading room to chat and bounce ideas off more experienced traders.

How much does Elemental Trader cost?
  • #8
  • Aug 26, 2011 4:42am Aug 26, 2011 4:42am
I used the most known and unknown method to predict the market, starting from Fourier Analysis, and ending finally to the Neural Networks and wavelets. I use the wavelets to extract the cyclic events that occur in the market (at every timeframe). Then I use a NN based trading system called NeuralSpray, to trade on the markets. When the direction predicted by the wavelets (Morlet is better than Mexican Hat) is the same of the one opened by NeuralSpray, I leave them to run. Counterwise, I close the order of the robot. Actually my equity is very interesting, but maybe it depends by the broker (fibo group), very honest respect to others.
  • #9
  • Sep 4, 2011 8:14am Sep 4, 2011 8:14am
All Righty Then.

I like to keep it a bit simpler than that, but hey that's cool if you're into it. Nevermind most mere mortals can't begin to understand all that.

Actually, I'm having fantastic results using harmonics for entries combined with a wave count for confirmation of probable trend reversal. Tight stops and losses are cut loose quickly. Conversely, winners are big and healthy.

Closed a 1:9 risk:reward trade before trading ended last week. Account has increased more than 19% during the past two trading weeks.
  • #10
  • Sep 14, 2011 8:37am Sep 14, 2011 8:37am
Hi!

May someone please explain me how the points, especially the X and A, are selected in order to form the patterns?

I've read the three books by Carney but still can't figure out whether the high circled in this picture can be part of a pattern or not.

I mean, is any candle with its high(/low) surrounded by two lower(/higher) highs(/lows) eligible to be such a point? Are there some rules to select/discard some of them?

Thx
Attached Image
No greed. No fear. Just maths.
  • #11
  • Sep 15, 2011 2:53pm Sep 15, 2011 2:53pm
Quoting PipMeUp
Hi!

May someone please explain me how the points, especially the X and A, are selected in order to form the patterns?

I've read the three books by Carney but still can't figure out whether the high circled in this picture can be part of a pattern or not.

I mean, is any candle with its high(/low) surrounded by two lower(/higher) highs(/lows) eligible to be such a point? Are there some rules to select/discard some of them?

Thx
While I'm not yet a harmonic expert, I'd say that candle is not a candidate. I would suggest two things...at first stick with larger moves as legs and check out www.fxgroundworks.com the knowledge you'll gain from that website will prove to be priceless. One of the biggest mistakes I see folks make with harmonics is trading every pattern they find. There are a few other, simple, considerations that should be taken into account with each potential entry.
  • #12
  • Dec 17, 2011 5:56pm Dec 17, 2011 5:56pm
Quoting PipMeUp
Hi!

May someone please explain me how the points, especially the X and A, are selected in order to form the patterns?

I've read the three books by Carney but still can't figure out whether the high circled in this picture can be part of a pattern or not.

I mean, is any candle with its high(/low) surrounded by two lower(/higher) highs(/lows) eligible to be such a point? Are there some rules to select/discard some of them?

Thx
The X point in your chart is the highest point before the low, in a up trend A point is at the start of the trend and the X is before it
Attached Image (click to enlarge)
Click to Enlarge Name: x point.jpg Size: 17 KB
  • #13
  • Jun 2, 2012 12:55am Jun 2, 2012 12:55am
Quoting Unchained
While I'm not yet a harmonic expert, I'd say that candle is not a candidate. I would suggest two things...at first stick with larger moves as legs and check out www.fxgroundworks.com the knowledge you'll gain from that website will prove to be priceless. One of the biggest mistakes I see folks make with harmonics is trading every pattern they find. There are a few other, simple, considerations that should be taken into account with each potential entry.
i would agree, there is lots of garbage out there on the internet but these guys are pretty solid.
  • #14
  • Last Post: May 19, 2014 7:51am May 19, 2014 7:51am
I am trying to use harmonics with ProTrader 2. Is there any indicator that I can add to help with the identification? The built-in Fibonacci retracement indicator isn`t user friendly. So far I`ve been doing my computations on a piece of paper.
0 traders viewing now