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Harmonic and Classic Patterns

  • #281
  • Jan 27, 2012 10:11am Jan 27, 2012 10:11am
- I take a trade on USD/Cad on Jan the 25 and it was a bat or crab but I don't remember after the pattern failed and took my stop it reverse in my direction and now I'm pissed because only the pattern need one or two point in it and it wouldn't have been failed and i would have took may be 120 pips.

- If you take a look at my previous post on Pound/Swiss you will find that if the pound makes only 2 pips up it would have been broken the pattern and take a chance from you of 85 pips.

- If any one know how to get rid of that problem I appreciate it.
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  • #282
  • Jan 27, 2012 8:00pm Jan 27, 2012 8:00pm
it can be annoying as their are differences with the data feeds. you can get as much as a 20pip difference depending on which feed you have. i find often there are discrepencies with my mt4 charts and my broker. That is why trading isnt an exact science. it is within a range. you cant draw one line and call it support, you need to draw a very fat line and call it support to incorporate as many points as you can.
  • #283
  • Jan 28, 2012 4:28am Jan 28, 2012 4:28am
Quoting foxmehrabi
it can be annoying as their are differences with the data feeds. you can get as much as a 20pip difference depending on which feed you have. i find often there are discrepencies with my mt4 charts and my broker. That is why trading isnt an exact science. it is within a range. you cant draw one line and call it support, you need to draw a very fat line and call it support to incorporate as many points as you can.
- Thanks foxmehrabi for info, but I have to ask you what s/r indicator do u use?

- Because I only take bats and crabs because they are strong than gartley and butterflies and even though they also failed and u find that a lot of times gartley and butterflies hold, so that is so much annoying!
  • #284
  • Jan 28, 2012 7:52am Jan 28, 2012 7:52am
yes, i will only take a trade on the patterns if they marry with a line of support or resistance. I use supdem.ex4 you can change it for a specific timeframe. i like using the s/r lines for the H4 charts.

I notice you trade the 5min timeframes. i find it to have too much noise to be consistantly profitable. i find it rare to see a good RvR. What is your criteria?
Attached File(s)
File Type: ex4 SupDem.ex4   13 KB | 1,041 downloads
  • #285
  • Jan 28, 2012 8:29am Jan 28, 2012 8:29am
Quoting foxmehrabi
yes, i will only take a trade on the patterns if they marry with a line of support or resistance. I use supdem.ex4 you can change it for a specific timeframe. i like using the s/r lines for the H4 charts.

I notice you trade the 5min timeframes. i find it to have too much noise to be consistantly profitable. i find it rare to see a good RvR. What is your criteria?

- If u take a look at the chart of mine using Murrey Maths, you'll find that its exactly exist at extreme overshoot and that's an excellent confirmation for a harmonic pattern (even though it's a butterfly but u could take it and u could make 85 pips ) and that's my new criteria the red and medium turquoise lines, I would take any pattern exist in alignment with those two lines.

- Why I prefer M5 chart?

1) The M5 chart gives me the result now, So I don't have to wait much whether it hold or failed.

2) The PRZ is too small I wait till my risk is smaller than 10 pips then jumps.

3) In H1 and H4 time frames u could have a PRZ of 100 to even 450 pips, So you could get confused Where is my entry point, I will get filled or not, the pattern will hold or not??????????

4) In M5 time frame your indicator could find to you maybe from 10 to 15 pattern from London open to its closed (you will never find that in H1 and H4 time frames).

# I have applied your s/r indicator to my chart and it looks interesting it gives my the fat line which I do want it .

- Thanks for helping me Foxmehrabi .
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  • #286
  • Jan 29, 2012 1:19am Jan 29, 2012 1:19am
Ziko9o8 & foxmehrabi

Thank you very much for your posts. I have been taking trades on a demo account for the past couple of weeks. I was doing only H4 & Daily and opened 17 trades in two weeks. Six trades closed hitting the SL, two are in profit with around 150 pips, nine are between -50 to -125 pips. I am still trying my best to figure out the best approach before I go live as I have blew up few accounts already on live with different strategies.

I would appreciate if you can give me some tips on below queries.

1. Doing back test I can see patterns (butterflies etc) in the my ZUP_92 platform, but when I did the Demo I saw some patterns and disappeared after couple of days..Isn’t supposed to stay there once it formed the pattern?
2. What kind of confirmation do you use to enter a trade. I used a candle close on H4 or Daily for a confirmation.
3. What is the success rate of this method?
4. Which Zup indicator do you use? I have both V92 and V102 which I don’t see any similarities at all.

Thanks
Rabhni
  • #287
  • Jan 29, 2012 4:03am Jan 29, 2012 4:03am
Quoting rabhni
Ziko9o8 & foxmehrabi

Thank you very much for your posts. I have been taking trades on a demo account for the past couple of weeks. I was doing only H4 & Daily and opened 17 trades in two weeks. Six trades closed hitting the SL, two are in profit with around 150 pips, nine are between -50 to -125 pips. I am still trying my best to figure out the best approach before I go live as I have blew up few accounts already on live with different strategies.

[color=black][font=Verdana]I...

- 2nd question: Well Rabni, if u red my last post, u wouldn't have asked my and this question is the most important one.

- But I guess it is a common problem we have all the Arabs (I am from Egypt) we read and in the same time we don't read.

- 3rd question: Go to page 14, post #198.

- 1&4 question: May be someone else could help u answering those because frankly I don't know.

- Best wishes for all brilliant Emarties.
  • #288
  • Jan 29, 2012 5:11am Jan 29, 2012 5:11am
I've attached a file which is like the zig zag, however it only has depth and deviation set at 12 and 5, this one works best for me. It allows me to see the ABC patterns much easier, along with using one of the Zup indicators you can easily scalp some pips just using the M and W patterns while waiting on your butterfly patterns.

Now if you are new to this I can tell you it works well, why, well 2011 turned out to be a fairly good year once I settled into mostly trading with Zup and the various patterns, however at the beginning of the year I was trying a few different techniques and have been screwing up since the beginning of Jan...the other day I stopped reevaluated my trading and it hit me like a ton of bricks, my success was when I was counting ABC patterns for scalping (with Zup)....so I've put my zup on another chart and added the DCzigzag indicator, bam! back in business.

Although I am now testing another trading method found in the fourm using "X Man's super simple system" I added my DC Zig Zag and will test this coming week....although Patterns are the way to go , boredom can kill an account so trying new things is risky...
Attached File(s)
File Type: ex4 DCZigZag.ex4   4 KB | 1,433 downloads
Never been vouched
  • #289
  • Edited 6:00am Jan 29, 2012 5:22am | Edited 6:00am
Harmonic pattern trading is a profitable system if you really understand how to apply it in financial market.. The success rate of the system is 70%-80% and has been proven for 75 years ago, with the Risk/Reward 1:2 or more..

In order to get the updated pattern search in Zup indicator, I recommend you use the Zup 102, which is contains the Shark Pattern and probably will form 5-0 after the 50% retrace from Shark pattern. There are also Zup 106 for pitchfork analysis.

Harmonic work well in 15 m,30m,1H,4H time frame for day trading. If a pattern form near the Support and Resistance area. It will give more accuracy for the success rate with the system... Price Pattern are everything in trading, Cheers !
  • #290
  • Jan 29, 2012 7:42am Jan 29, 2012 7:42am
Quoting Ziko9o8
- If u take a look at the chart of mine using Murrey Maths, you'll find that its exactly exist at extreme overshoot and that's an excellent confirmation for a harmonic pattern (even though it's a butterfly but u could take it and u could make 85 pips ) and that's my new criteria the red and medium turquoise lines, I would take any pattern exist in alignment with those two lines.
very interesting. i would welcome anything that will allow me to trade these patterns more often. This murrey math seems it may do the trick. I have found the attached files and am happy to share here. Are there any specific settings you have found particularly useful, Ziko9o8?

I think this indicator with the pattern s/w could get me interested in the shorter TF's.

Your help as always is appreciated.
Attached File(s)
File Type: mq4 Murrey_Math_Modified.mq4   10 KB | 1,130 downloads
File Type: mq4 Murrey_Math_MT4_VG.mq4   10 KB | 1,191 downloads
File Type: mq4 Murrey_Math_Modified1.mq4   10 KB | 1,134 downloads
  • #291
  • Jan 29, 2012 7:51am Jan 29, 2012 7:51am
Quoting foxmehrabi
very interesting. i would welcome anything that will allow me to trade these patterns more often. This murrey math seems it may do the trick. I have found the attached files and am happy to share here. Are there any specific settings you have found particularly useful, Ziko9o8?

I think this indicator with the pattern s/w could get me interested in the shorter TF's.

Your help as always is appreciated.
- I think the last indicator by VG + the fat line from SupDem will do a nice work on M5 Charts.

- About the specific settings, I have red almost the posts in trading using Murrey Math and price action and someone want to change the period of MML to 5 and P=32 but when I apply it to my chart it doesn't make sense so I left the settings as it is.

- Thanks Foxmehrabi.
  • #292
  • Edited 8:30am Jan 29, 2012 8:13am | Edited 8:30am
- About the settings of MML in M5 Chart which will be changed you could find it in Trading using Murrey Maths and Price Action thread in page 142 post #2126.

- If u apply it and it makes alignment with a harmonic pattern please post.

- Thanks in advance.
  • #293
  • Edited 12:25pm Jan 29, 2012 11:39am | Edited 12:25pm
Indicator MZZ9 trendline updated , hope will help for trendline analysis with harmonic trading !
Attached File(s)
File Type: mq4 MZZ9_trendLine.mq4   63 KB | 1,791 downloads
  • #294
  • Jan 29, 2012 8:06pm Jan 29, 2012 8:06pm
Quoting Ziko9o8
- I think the last indicator by VG + the fat line from SupDem will do a nice work on M5 Charts.

- About the specific settings, I have red almost the posts in trading using Murrey Math and price action and someone want to change the period of MML to 5 and P=32 but when I apply it to my chart it doesn't make sense so I left the settings as it is.

- Thanks Foxmehrabi.
my VG one seems to work best on the default of 64 for all TFs. changing it to 32 doesnt seem to work very well. my indicator only allows for a change in the 'P' value. i dont understand what the 'stepback' variable is so i leave it at the defualt value of '0'.

Ive spent the last 2 hours reading the murreymath thread, and it is intriguing. The thing is to test it with what i already do and see if it increases my edge in any way. Like i said before i shy away from the shorter tfs as i always believed there is too much noise going on there and often only small profits to be made, and support/resistance levels seem weak, but if i can find something that allows me to trade them profitably then of course i would welcome it.

I will monitor this murrey math on the 5M for the next few days and see what happens. It looks like a policy of taking a trade if the C leg is in zone of the the extreme four lines could be worthwile.
  • #295
  • Jan 29, 2012 8:09pm Jan 29, 2012 8:09pm
Quoting siaheng
Indicator MZZ9 trendline updated , hope will help for trendline analysis with harmonic trading !
Thank you for sharing this indicator. can you offer any guidelines as to how to use it? perhaps a pdf file or some chart examples would help us learn its strengths and weaknesses.
  • #296
  • Jan 29, 2012 8:58pm Jan 29, 2012 8:58pm
foxmehrabi, which version of Zup indicator do you use? Is it supposed to keep the pattern once it appeared? Inm y cases with V92, patters disappears from few paits after some time on any time frame.
  • #297
  • Jan 30, 2012 12:28am Jan 30, 2012 12:28am
This Murrey math is looking more and more interesting as a confirmation indicator for taking a trade off the harmonic patterns. Since the murrey maths is all about reversals this coincides perfectly with what we trade with the harmonic patterns. But the murrey math gives us an additional advantage as it gives us other information when certain levels are hit, this is very useful for deciding if we want to take any trade regardless of what system we want to use. The ivar gives us an indication of persistence and their is a value in having this knowledge. The MM lines gives us more information which can give confirmations to our trading decisions. Read the attached pdf and i think it will open your eyes to the true value of using this in conjunction with harmonics. The philosophy is the same in that both come from a fractal understanding, so there is complete harmony. At this point in my study i cant believe why i havent read about this before. now to test it all out on a live account to put all the theory into practice.

i take my hat off to you Ziko9o8 for introducing this to me :-)
Attached File(s)
File Type: pdf MurreyMath Rules.pdf   118 KB | 20,264 downloads
  • #298
  • Jan 30, 2012 12:58am Jan 30, 2012 12:58am
Thanks foxmehrabi. I have used MM lines in conjunction with breakout strategies on 3/8 and 5/8 lines which gave me some pips but never managed the consistency. Hope you get through the edge…
  • #299
  • Jan 30, 2012 5:46am Jan 30, 2012 5:46am
Quoting rabhni
foxmehrabi, which version of Zup indicator do you use? Is it supposed to keep the pattern once it appeared? Inm y cases with V92, patters disappears from few paits after some time on any time frame.
it will keep the pattern if valid, but if it the leg goes too far and invalidates the pattern then it will disappear. You should learn the fib ratios and recognise the charts without the software. you can draw the wings and see if the price reaches the top/botttom of the second wing. It is the best way to trade them and educates you to see more.
There is a setting to draw emerging patterns that you can switch on. but it doesnt recognise everything so your eyes is the best way. It is a useful indicator though as it draws the ratio values for you.

zup_v103
WRR_ZUPINFO_v02
  • #300
  • Jan 30, 2012 8:54am Jan 30, 2012 8:54am
Thanks foxmehrabi. While I familiarise with this method, can you please let me know which option I should enable to see the emerging patteren. With v103 I dont see much pattern forming. Did you have to customize any settings to make it show the patterns?
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