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I get a bit confused over these defnitions.
Taking the bat pattern as the example
AB = between 38.2% and 50.0% of XA
BC = between 38.2% and 88.6% of AB
CD = between 161.8% and 261.8% of BC
AD = 88.6% of XA
Is this right?
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Disliked{quote} Yes it was a harmonic pattern. In this case a AB=CD pattern It is another tool in the toolbox to decide if it is a high probability entry or not. I don't enter simply because i see a pattern forming. Many other conditions have to be also in my favour. And i always enter a trade based on Udines entry rules. There is an interesting thread about harmonics on forex factory: http://www.forexfactory.com/showthread.php?t=402253 Below you see some common harmonic patterns {image} {image}Ignored
Disliked{quote} its not controversial at all... its all in the guidelines, and if its not the first 00 level, then its a no trade.. UdineIgnored
Dislikedtake ur bats and play in another field ... its nothing to do with Udines methodIgnored
Dislikedhey guys, I did my first trade on UJ (5 pips below 118,500) this morning and it worked very well. But I am wondering if it would be according to the rules to also trade the very next level (118,400)? I hope I am not bothering you with the question but I didn't find the answer in this thread at all. Thanks. {image}Ignored
DislikedI understand the one hour method and have successfully traded it with a larger spread broker... Probably you are very lucky... In a number of post I read what should be the percentage of successes working with this system. But estimates have not seen yet, so I've done the calculations myself. I think there is something to think about. In clarity of the calculation I did not use trailing stop, in any case, it still increased the percentage of commission paid. {image}Ignored
Disliked{quote} As you can clearly see there are many factors to consider..... The most important of which is to make 2 high probability trades and then stop trading for the day. Once you are consistent over at least a few weeks then possibly consider adding another trade per day. If you or anyone else lacks the consistency then you will come un-stick very very fast due to GREED! Carefully executed trades are fundamental to your success in this trading method. Good trading, Masterrmind.............Ignored
Disliked{quote} I understand what you want to say. Certainly, 2 are correct Traders are good, but if a day will 2 at a loss to? Very good system, but It is not enough to blindly follow rules that can be profitable to work with this system. Thank you.Ignored