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Harmonic and Classic Patterns

  • #421
  • Edited 7:08am Jun 1, 2012 7:04am | Edited 7:08am
http://www.freeimagehosting.net/newuploads/fwzly.pnghttp://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3Ehttp://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3E
This is my first cypher pattern drawing, please give comment to improve my skill.
TQVM
  • #422
  • Jun 2, 2012 12:53am Jun 2, 2012 12:53am
Quoting poruchik
Larry Pesavento say about 70%
Larry pesavento says 80%, its in his books. Although these made up patterns are not patterns at all.
  • #423
  • Jun 2, 2012 4:56pm Jun 2, 2012 4:56pm
I stick to the 4 main patterns and you won't see me trading anything else.
  • #424
  • Jun 2, 2012 5:27pm Jun 2, 2012 5:27pm
Success ratio concept is completly useless without rules for SL and TP.
Make TP=1pips and SL=1000pips and you can reach 99+% success ratio.
Make TP and SL like books advice and ... well, you will not reach what books say.
http://tradegartleypattern.blogspot....ess-ratio.html
  • #425
  • Jun 3, 2012 8:06am Jun 3, 2012 8:06am
That's the whole point, 4 main patterns are good enough. Those trade harmonic patterns should know.
  • #426
  • Jun 3, 2012 11:55am Jun 3, 2012 11:55am
In trading less is more. If your trading goal is $$$, than Master 1 pattern and will you reach your goal faster than people using many patterns and dozens of indicators.
  • #427
  • Jun 3, 2012 12:07pm Jun 3, 2012 12:07pm
guys,
Can you please say how exactly do you enter the trade when you see a harmonic pattern, lets say Gartley bullish.
Do you enter when price still goes down (for example on 78.6 XA ret)?
Do you wait for a bullish candle to close?
Which indicators or methods you use for confirming the entry, if you confirm it at all?
thanks!
kor4x
  • #428
  • Jun 5, 2012 8:53am Jun 5, 2012 8:53am
Quoting kor4x
In trading less is more. If your trading goal is $$$, than Master 1 pattern and will you reach your goal faster than people using many patterns and dozens of indicators.
this is not true and i love how your only hear to promote stuff you sell. if you think looking at one pattern over and over again makes you better; your probably not any more profitable then a lot of the people here.

the market isn't about learning how to do one thing really well, because you can't master one thing really well. I can take a trade on a butterfly pattern and have it work, and someone else that has been studying these patterns for ever can decide not to take it and over 100000 trades they can have the same results. it doesn't matter how often you study one pattern, in most cases that is so limiting and will slow someone down from learning.

most of us can do more then 1 thing at a time :-)
  • #429
  • Jun 8, 2012 5:55am Jun 8, 2012 5:55am
hey kor,

i use divergence between B and D. divergence is more likely when trading gartley pattern, because the distance between those two points. AB=CD give additional power, very accurate sometimes.
with bat, butterfly and crab patterns i use an extension of AB=CD (1.27AB, 1.618AB).
Trendlines are always important as well for all patterns
  • #430
  • Jun 10, 2012 2:49am Jun 10, 2012 2:49am
Quoting clayton
this is not true and i love how your only hear to promote stuff you sell. if you think looking at one pattern over and over again makes you better; your probably not any more profitable then a lot of the people here.

the market isn't about learning how to do one thing really well, because you can't master one thing really well. I can take a trade on a butterfly pattern and have it work, and someone else that has been studying these patterns for ever can decide not to take it and over 100000 trades they can have the same results. it doesn't...
hi clayton,
1. No idea what you mean in your first sentence. I am trader, not seller and yes, sure, there are plenty of better traders.

2. regarding second part, I think you are incorrect. Why most people lose in trading is becuase they try so many things for a short period of time, and many in the same time. Specialization is the key to success in any area of life.

3. "most of us can do more then 1 thing at a time :-)", true, but trading one or very limited number of patterns is not to do 1 thing. Finding a pattern on a chart is just the begining ...
  • #431
  • Jun 10, 2012 2:59am Jun 10, 2012 2:59am
Quoting moin1
hey kor,

i use divergence between B and D. divergence is more likely when trading gartley pattern, because the distance between those two points. AB=CD give additional power, very accurate sometimes.
with bat, butterfly and crab patterns i use an extension of AB=CD (1.27AB, 1.618AB).
Trendlines are always important as well for all patterns
hi moin,
Thanks for you answer. Divergence concept makes good sense and I think one does not need any indicator for this, just eyes. If you find next time proper case could you please explain on a live example how divergence actually allows you to filter good gartley from bad gartley?

Pefectly agree regarding the trendlines.
cheers,
kor4x
  • #432
  • Jun 10, 2012 2:29pm Jun 10, 2012 2:29pm
Quoting kor4x
guys,
Can you please say how exactly do you enter the trade when you see a harmonic pattern, lets say Gartley bullish.
Do you enter when price still goes down (for example on 78.6 XA ret)?
Do you wait for a bullish candle to close?
Which indicators or methods you use for confirming the entry, if you confirm it at all?
thanks!
kor4x
- Confluences, What does this mean?

- It is more than one tool intersect at one point, that gives us weight to pull the trigger and enter the market without any confirmation.

- What are these tools?

- Anything about Line Studies. (Fibonacci work, Gann work, Forks, Trendlines ....etc.)

- Now, we need two or three of these tools intersect at one price inside the PRZ to shoot the market Up or Down.

- In charts attached, you will find 4 examples of harmonic patterns in each one, Mr. Market ticks the confluenced price only once and he never looks back. That's mean the market print the low or the high only once and it moves aggressively in the counter trend direction. That's mean that you have only one opportunity to cap the market up or down without through yourself in front of moving train.(please refer post #395, page 27).

- I hope, I made a base here for further discussion based on confluences inside the harmonic patterns.

- Any questions will be discussed about this topic.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pound yen m15 gartely.gif Size: 26 KB
Click to Enlarge Name: euro pound m15 bat.gif Size: 24 KB
Click to Enlarge Name: euro yen m15 butterfly.gif Size: 26 KB
Click to Enlarge Name: pound dollar m15 crab.gif Size: 24 KB
  • #433
  • Jun 10, 2012 3:20pm Jun 10, 2012 3:20pm
hey there. your chart doesnt show any confluences
  • #434
  • Edited 3:45pm Jun 10, 2012 3:45pm | Edited 3:45pm
Quoting moin1
hey there. your chart doesnt show any confluences
- I know there's no confluences on my charts, great observation moin1, if you read slowly and understand what I am trying to say that confluenced price ticks only once then fly in the opposite direction and here is the prove (the four posted charts).

- When I have time, I will continue post #432.
  • #435
  • Jun 10, 2012 4:01pm Jun 10, 2012 4:01pm
sorry Ziko, i also have difficulties to understand what you want to present :-(
  • #436
  • Jun 11, 2012 2:24am Jun 11, 2012 2:24am
Attached Image (click to enlarge)
Click to Enlarge Name: eu_h1_b.jpg Size: 99 KB
  • #437
  • Jun 11, 2012 5:02am Jun 11, 2012 5:02am
is it forming shark ?
gu
Attached Image (click to enlarge)
Click to Enlarge Name: pvj468gif.gif Size: 11 KB
not euphoria follower
  • #438
  • Edited 10:32am Jun 11, 2012 10:17am | Edited 10:32am
Quoting kor4x
sorry Ziko, i also have difficulties to understand what you want to present :-(
- Again, what I mean by confluence is there are two or three tools intersect inside PRZ to make us more confident of taking a trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aussie bat.gif Size: 28 KB
Click to Enlarge Name: pound butterfly.gif Size: 36 KB
Click to Enlarge Name: pound gartely.gif Size: 19 KB
Click to Enlarge Name: fiber crab.gif Size: 28 KB
  • #439
  • Jun 11, 2012 10:38am Jun 11, 2012 10:38am
Quoting iqyu5an
is it forming shark ?
gu
may be
Attached Image (click to enlarge)
Click to Enlarge Name: iuyfdir.png Size: 132 KB
  • #440
  • Jun 11, 2012 10:45am Jun 11, 2012 10:45am
Quoting poruchik
may be
- Hello Poruchik, which version of Zup do you use?

- I'm interested in that version, because I see it can detect shark pattern.

- Could you please post that version and it's template.

- Thanks in advance
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