Harmonic trading-harmonic patterns

Depending on what TF you are using here and depending on per trade minimum revenue expectations (which determines the type of trader you are), you could wait until a true five candle Fractal forms at the top, before entering the short - given the distance expected in the retracement back towards point "C." It's technically a standard short harmonic entry with a standard bullish fractal trigger. Use whatever stop fits your own money management strategy.

good one

Can you point to "five candle Fractal" example, please?
Is it something as guys present in these 2 videos ->

why? it's easy when you get a bit of experience.

google harmonic patterns building blocks and if you can find the lessons you should like, i can't remember the exact link since its at home.

Hi all,

I was hoping to get some thoughts on harmonic trading. I have been following Jason Stapleton's videos recently and I'm currently reading Scott Carney's Harmonic Trading. Because harmonic trading (when plotted on a chart) is very visual, I think this could be a good tool in my trading toolkit. I wanted to ask though:

- Is harmonic trading a profitable trading strategy for people on the forum?

- I can't help but think that the use of Fibonacci sequences in some respects is a bit mystical. When explaining harmonic trading to others, I get a lot of comments about "numerology" and "mysticism". What are peoples thoughts on this?

- Lastly, as I'm very new to harmonic trading, does anyone have any good ideas about starting points in terms of resources (books, videos, sites) etc?

Cheers!

The trouble with butterfly's and bats is that when they grow one wing too big they can't fly... and they crash.

Hi Ras al Ghul,

I have been learn harmonics since 2012. I took 4 months of losing before the ink started to go from a lot of red to a lot of black, so it is possible but lots of learning as you know

Because there is a lot to know i think your friend is saying this because they do not understand it themselves and to them it is more foreign. I do not blame them for thinking this way, it does have a learning curve if you do it right but so does anything else. I would not say Fibonacci is new maybe they are just determined to make their own method work or are not very open minded.

books/sites

larry presavento - trade what you see . an easy read but will leave you wanting more and i never did feel it gave me anything complete. between this one and scotts book i would pick larry's.

harmonic trader pdf - this is the exact opposite to larry's book. its very technical (which might be good for some) but also very dry and boring to get through. anyone i talked to has not make it to the end and give up because it deals mainly with stocks its also very detailed saying "when price turns at exactly 18.52". To my surprise there is a lot of unanswered questions. as for the site and membership you get a report which is some what interesting on a few setups but lacks personal interaction and email response. every few months scott might come on line but for the most part its abandoned and emails go unanswered.

fxgroundworks - they have a magazine on their site in pdf and is free with a few ads. over all it is quite good and talks a lot more about the psychology of trading and they have videos on their main site at the bottom for each of the patterns. even as a free resource it would be great if they were more detailed for those just getting into it. most of the value here comes from their mentoring and structure rankings / sms alerts which are extremely useful so you get what you pay for.

there are some other resources but to me these are the top 3. i have been through all of these, i own the books (both larry's and scott's) and had a membership with harmonic trader and still have one with the other.

Hi snowmantum,

Thanks so much for your thoughts on my questions. Really appreciated!

I haven't heard of those resources before, so I will definitely give them a look. I think you make a good point about the learning curve required with Fibonacci and harmonic trading. I guess, even for myself, I haven't been able to explore the science behind the theory. But I'm really keen to study these areas more and hopefully develop the knowledge and ability to apply the methods to my trading.

I'll keep an eye on this thread for more insight into the harmonic trading method and hopefully, after some study, I will be able to contribute some ideas around pattern identification and trade opportunities.

Thanks again,

Ras

gbpjpy

gbpjpy will decline because of 2 patterns : Butterfly - bump & run reversal

gold will increase from sweet zone

gold & I added another buying position

I´m looking a harmonic expert advisor for mt4. _Do you know .....where ..

Hello, I am looking for complete database of possible harmonic patterns with pictures. I know a few of them but maybe I miss some...

Thanks for responses.

DK

You mean all the paterns? If you google it there are a bunch of pictures of them

which indicator are you using here

Hello everyone,
today , after that gold rose up to 1266.86 , based on my numerological analysis , I found out that the rate of gold will not go up any more. so I did sell on this rate .As you can see on the picture below , my position is still open .

Hello everyone,
Today ,as you know , gbpusd went up after news .

Very easy to use pattern. analysis for GBP / USD. We are expected to fall and the wave theory and pattern.

anyone have harmonic pattern indicator
can share me, please
i want to trade like da vinci