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Making Bank: The Harmonic rhythm of the market

  • #81
  • Jun 11, 2013 11:15am Jun 11, 2013 11:15am
Quoting Davit
{quote} I just want to say your insight is beautiful. Do you use any indi for finding harmonics or just using your eyes.Thank you
Hey Davit thank you for the compliment. I posted this in the other thread last time I was asked if I use software or an indi to find the patterns....

Quoting CNTrader
{quote} Hey EW your welcome and way to go with the GU trade glad I could add value to your trading vision and account lol. TL does mean Trend Line and yes i draw the patterns myself and do all my analysis myself. I dont follow others and I dont use software to find the patterns. It is a skill and it says a lot about the way I approach both my analysis and my trading. I've been at this bad boy for a long time and love to stay on top and stay sharp with the skill like a Ninja lol. I have my thoughts on the software that is out there and my reasons...
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #82
  • Jun 11, 2013 11:36am Jun 11, 2013 11:36am
Quoting CNTrader
{quote} Hey Davit thank you for the compliment. I posted this in the other thread last time I was asked if I use software or an indi to find the patterns.... {quote}

Thanks CNT
I am still learning about harmonics.I use my eyes 1st then check with the zup82 to confirm if I was right.I am not expert by any means and won't pretend but I truly marvel at the harmonic principles.If there is Holly grail I believe fibs and Harmonics are it.
I drew this pattern 1st then confirmed it with the indi.The red Box are where price needs to go to be valid area to short.Higher the better or max 88.6 fib in black.
Do you see any flaw in my reasoning.Feel free to criticize since I always welcome constructive inputs.
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.daily.png Size: 64 KB
In trading, you have to be defensive and aggressive at the same time
  • #83
  • Jun 11, 2013 12:52pm Jun 11, 2013 12:52pm
Quoting Davit
{quote} Thanks CNT I am still learning about harmonics.I use my eyes 1st then check with the zup82 to confirm if I was right.I am not expert by any means and won't pretend but I truly marvel at the harmonic principles.If there is Holly grail I believe fibs and Harmonics are it. I drew this pattern 1st then confirmed it with the indi.The red Box are where price needs to go to be valid area to short.Higher the better or max 88.6 fib in black. Do you see any flaw in my reasoning.Feel free to criticize since I always welcome constructive inputs. Thank...
That right there is one of the reasons I never use the zup indi regardless of version. Your reasoning is ok but the pattern that the software has picked up is not correct. Your reasoning however leads you to what would be a bat pattern completion. The zup picks it up mis labels it and if people don't know what they are doing can be led into some serious mistakes. Instead why not learn to understand and identify the pattern yourself. Learn to to look forward and anticipate what price may do and be ready to act on your trade plan when it gets. If you learn to do this along with what you are already doing that has made you successful then you will no doubt be on your way to becoming a cold blooded assassin in the currency market or any market you trade. Only you can look forward and learn to read the market and identify all the possibilities. The software does not. Also often times the patterns that are mislabeled either get repainted or they disappear, or my personal favorite they show up after the fact lol.

How much more powerful would it be to learn them, do your due diligence and analyze all the possibilities, then act when your criteria is met. Believe me when I tell you in the long run you will be waaay better off and a better trader for it then you are now. Just saying.

I'll get off my soapbox now but I really feel sorry for people when they rely on the indi in replace of just doing the due diligence and research and development in order to make the Harmonic rhythm of the market help them make bank!! Take a look at post number 2 to get a better understanding of what the patterns look like so that if you are going to use the software you know what to weed out. I hope you are not offended as that is not my intention to do so. I'm speaking generally to anyone who may read this post and I hope this helps.

Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #84
  • Jun 11, 2013 1:04pm Jun 11, 2013 1:04pm
Quoting CNTrader
{quote} That right there is one of the reasons I never use the zup indi regardless of version. Your reasoning is ok but the pattern that the software has picked up is not correct. Your reasoning however leads you to what would be a bat pattern completion. The zup picks it up mis labels it and if people don't know what they are doing can be led into some serious mistakes. Instead why not learn to understand and identify the pattern yourself. Learn to to look forward and anticipate what price may do and be ready to act on your trade plan when it gets....
Thanks you are not offending at all on the contrary I welcome criticism.
You confirmed my suspicion of relying on Indies for pattern recognition.So Far I read Scott Carney's free Ebook on Harmonics but if you think there is a great book out there then please recommend I'll appreciate.
Question that eludes me is this.Which patterns get priority in your trading.I've seen way too many exotic shapes that I care not about.
Thank you
regards
In trading, you have to be defensive and aggressive at the same time
  • #85
  • Jun 11, 2013 1:29pm Jun 11, 2013 1:29pm
Quoting Davit
{quote} Thanks you are not offending at all on the contrary I welcome criticism. You confirmed my suspicion of relying on Indies for pattern recognition.So Far I read Scott Carney's free Ebook on Harmonics but if you think there is a great book out there then please recommend I'll appreciate. Question that eludes me is this.Which patterns get priority in your trading.I've seen way too many exotic shapes that I care not about. Thank you regards
Pretty much everything by Scott Carney (if not written by me) is gospel on the Harmonic patterns lol.
As far as which patterns get priority I would say that that is a personal decision each of you must make for yourself. i know some in here and in other threads feel the ab=cd pattern is like heaven sent lol. Others like the Bat because of the better risk to reward of the .886 entry. But as for me, my answer would be none of them. I have my favorites for my own reasons that I wont get into here but I don't give priority to one vs the other. They all have significant importance if the confluence and Price behavior that I look for is there. To avoid getting into specific details I'll leave it at that and say lets get back to sharing analysis. Hope that helps a little.

Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #86
  • Jun 11, 2013 1:43pm Jun 11, 2013 1:43pm
Quoting Davit
{quote} Thanks you are not offending at all on the contrary I welcome criticism. You confirmed my suspicion of relying on Indies for pattern recognition.So Far I read Scott Carney's free Ebook on Harmonics but if you think there is a great book out there then please recommend I'll appreciate. Question that eludes me is this.Which patterns get priority in your trading.I've seen way too many exotic shapes that I care not about. Thank you regards
Oh and as far as the exotics are concerned...that's one of the beautiful things about the Harmonic rhythm of the market...it works in any market, currency pair. or time frame. This week just happened to be a week where some beautiful set ups in exotics have presented themselves for some very nice bankable pips. Fractional disparity has been running rampant lol.

Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #87
  • Jun 11, 2013 4:04pm Jun 11, 2013 4:04pm
Hi all,
Enjoying and learning from your Thread CNTrader.

EURUSD
Here is a trade I am watching on the D1 chart, still a good week or so away. There were some good trade opportunities at the Break of B from Engulfing PA on the H4 Chart.
Attached Image (click to enlarge)
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Take Care
Always Learning
  • #88
  • Jun 11, 2013 4:18pm Jun 11, 2013 4:18pm
Quoting liemo
Good to see you start this thread CNTrader....I'm seeing multiple AB=CD completing around on AUD/USD. Here's a chart of 4hr which I traded on. SL : 9310 T1 : 9372 T2 : 9398 T3 : 9440 A nice 3 drive pattern on 5 mins to add to confluence. Lets see how it all pans out.!! {image} {image}
Target 3 @9440 attained.
  • #89
  • Jun 11, 2013 4:22pm Jun 11, 2013 4:22pm
Quoting CNTrader
{quote} Target 2 Attained {image} Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Nice Trading CNTrader. Noticed there are a few more patterns that you trade which I could add to my list of weapons- keep posting those examples

Scott Carney usings BAMM and RSI BAMM, just curious if you use these in your trading as well?
  • #90
  • Jun 11, 2013 7:07pm Jun 11, 2013 7:07pm
Quoting JayTrader
Hi all, Enjoying and learning from your Thread CNTrader. EURUSD Here is a trade I am watching on the D1 chart, still a good week or so away. There were some good trade opportunities at the Break of B from Engulfing PA on the H4 Chart. {image} Take Care
Nice chart Jaytrader got my eyes on daily potential set up. Remember this? Here is the updated version

Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd Daily.gif Size: 71 KB


Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #91
  • Jun 11, 2013 7:10pm Jun 11, 2013 7:10pm
Hey traders here is some Aud/Usd 1hr analysis I have my eyes on. Currently high wire no net long lol but looking at this scenario and watching for the behavior. There are some levels higher I watching as well. Stay tuned for updates:

Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd 1hr.gif Size: 59 KB



Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #92
  • Jun 11, 2013 7:13pm Jun 11, 2013 7:13pm
Quoting liemo
{quote} Nice Trading CNTrader. Noticed there are a few more patterns that you trade which I could add to my list of weapons- keep posting those examples Scott Carney usings BAMM and RSI BAMM, just curious if you use these in your trading as well?

Thanks Liemo nice contributions.



Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #93
  • Jun 11, 2013 7:55pm Jun 11, 2013 7:55pm
I have refrained from this debate for a reason so as not to waste my time with the idiots that try to say this isn't happening or hasn't been happening for years but as I always say "Time tells ALL"!!!! Let the record show and time will win that battle for me.



http://www.bloomberg.com/news/2013-0...f-clients.html
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #94
  • Jun 11, 2013 9:37pm Jun 11, 2013 9:37pm
Quoting CNTrader
Hey traders here is some Aud/Usd 1hr analysis I have my eyes on. Currently high wire no net long lol but looking at this scenario and watching for the behavior. There are some levels higher I watching as well. Stay tuned for updates: {image} Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
There is a similar set-up on NZDUSD that I am eyeing as well....Lets hope we both in my CNTrader voice make bank.
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  • #95
  • Jun 11, 2013 10:35pm Jun 11, 2013 10:35pm
Ok last chart analysis of the day before I head off to get some shut eye. Eur/Cad 15m chart high wire no net Harmonic set up.

Attached Image (click to enlarge)
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Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #96
  • Jun 12, 2013 2:09am Jun 12, 2013 2:09am
AB=CD into aggressive C short
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcadm5.png Size: 61 KB
  • #97
  • Jun 12, 2013 2:11am Jun 12, 2013 2:11am
=/ Stopped out
  • #98
  • Jun 12, 2013 3:40am Jun 12, 2013 3:40am
Having another stab at AU long.....seeing similar retracements on 5min chart.

SL @ 9480
T1 = 9544
T2 = 9584
Attached Image (click to enlarge)
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  • #99
  • Jun 12, 2013 4:17am Jun 12, 2013 4:17am
Quoting liemo
Having another stab at AU long.....seeing similar retracements on 5min chart. SL @ 9480 T1 = 9544 T2 = 9584 {image}
target 1 @ 9544 reached ...SL moved to BE for risk free trade.
Attached Image (click to enlarge)
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  • #100
  • Jun 12, 2013 4:24am Jun 12, 2013 4:24am
UJ short :

SL @ 97.30
T1 @ 96.15
T2 @ 95.23
Attached Image (click to enlarge)
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