Looking forward to going over the ABCD pattern!
Learning to trade with harmonics 11 replies
180 reasons to trade Harmonics and Patterns 13 replies
DislikedMr Pip, I do have a Q and no hurry to answer, but I was wondering just where you start your first X to A...there was a post #277 by Ezzy that involves the USDCAD where he starts his X way at the top and then you posted a chart in post #349 where you started your XA at the bottom.....Im thinking, which is dangerous, that maybe you just go back to see the most significant high or low and start from there....I imagine it may also has to do with what time frame you are viewing .......I just want to get this right and want to get on this boat before...Ignored
DislikedLow volume? Which MT4 broker are u using?Ignored
Please excuse me as my chart may be erroneous.I am still learning.I took consideration your comment about drawing fibs from key swing.
My chart on AU is on daily.
All the numbers fit into Gartley pattern XAB=CD BC is .618 exact retrace and my D is 1.618
As you can tell I am very excited about learning harmonics and looking forward to your teachings.Ignored
DislikedAs far I as understand PRZ is always at the D point not C.Ignored
Dislikedtotally agree but we could trade from C to D or at least B to D and then D to B.
trade from C or B to D, shortly called as BAMM ( BAT Action Magnet Move , documented by Scott Carney, in his book "Harmonic Trading of the Financial Markets: Volume Two".).
DislikedSure, it's just a higher risk trade.Ignored
DislikedBoth of ....
all depends on Price ActionIgnored
Dislikedharmonic and fib ratio will give us good sign where we should entry,sl and TP. but not for when . for when..like or dislike ... we should use additional indi for this. just use simple one that we're comfort with only....
DislikedI agree on trading on different levels.For me any valid set up is trade-able.
If you are waiting for price action as you say to confirm either up or down then what purpose was your pattern drawn for.
I like to understand your thought process.Why draw the complicated pattern and then wait and do nothing.Ignored
Dislikedwaiting ?? coz gimme bad reward risk ratio... Simple..isn't it ? am just waiting PA action that gimme good reward risk ratio.. at least 2 : 1 . OR 1 : 1 for scalp.
to answer when to entry... personally i need additional tools ( only 1 indi, mt4 standard )... but as i said earlier .. i have to respect this thread. coz mr. pip wants clean chart and simple. and i agree with that
what purpose was your pattern drawn for : planningIgnored
DislikedPlease if its not intrusive on my part I like to understand your view of the market.
You drew the Bat pattern and drew the fib levels and based on your drawing and fibs looks like Price may go down but you are in planning stage.What interests me -what purpose harmonic pattern you drew has any input in your planning.
What I am trying to say is if you had naked chart and you were still planning then what does pattern you drew make any difference in your outlook.