DislikedTo me this is pretty interesting from a pitchfork point of view with the pattern over the top of it...don't know what all the lines drawn here are for but I recogonize most of them. The pitchfork is drawn by the zup...they've drawn in the m. schiff line on the center but not on the UML, so I added that in. The indicator has also drawn in the fork time projections...the 100% time projection at the end of the pattern comes in at the 5/8 MM line (I use 60m tf for intraday stuff) and takes off to the upside to run into my projected M. Schiff UML...Ignored
- I have answered all your questions regarding NZD/USD H1 and here are the answers respectively to your questions:
1) No, the indicator detect it once it satisfies a combination of Fibonacci levels and you notice from your Kiwi H1 chart, that you had a great opportunity to enter long at 0.8248 while the price is still in PRZ (note: after monitoring this indicator for only one pattern, you will know how it works Don't worry about the mechanism)
2) No, the lower vertex of triangle was at the top of rectangle, but the bears keep pushing it down until it reach 0.8248, then buyers had their opportunity and if the bears keep pushing it down until it breaks the rectangle, then the pattern will fail and will be deleted and your stops will be eaten (remark: on smaller time frames M1, M5, M15 I wait till me risk becomes less than 10 pips then I enter, So if I lose, I lose only 10 pips and gains is unlimited)
3) My filter is the volume look at my attachment you will find that the bears interest (white volume bar) is no longer exist (green volume bar) that's the place where you want to jump in (white bar followed by green bar "the trend is changing").
4) If I have a bullish pattern on M15 chart, So I look to a higher time frame (H1) to confirm it and I find a bearish pattern. So I don't take that trade (they are against each other), but if there is a bullish pattern on H1, then the pattern on M15 chart is called a combo pattern (both M15 and H1 in the same direction).
5) You will find at harmonics all the things you need, that why VennD kept then then then then .... till that day, there are so many harmonic traders lived in this wild wide west for 20 years in profit, using harmonics, I hope you understand what I wrote to you, it takes about an hour to write in my note first then write it here for you.
- GL.