conventional gartley harmonic pattern on audcad. close to completion.
Order cancelled
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no reversal happened - no trades were opened. Price broke the resistance I marked. Broken resistance should turn into a support. Look for a buying opportunity at the retest.
@Guadios, Sure, you are added. Search in your inbox.
Trader_ZAK
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only fools trade these kind of chart patterns. gartley and head and shoulder and other shits. they just don't work, its all assumptions. fairy tale
Alexander_Nikitin
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@ZOHAiB, It seems to me you failed to master these patterns. That's why you say it.
Alexander_Nikitin
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@ZOHAiB, You'd better read the idea updates and witness how everybody profited from this pattern.
Trader_ZAK
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@Alexander_Nikitin, even after your updates, your pattern failed. you said you are going to go short first then after the breakout you said you are going to go long because resistance becomes support now and you failed again. I wonder how anyone profited from that idea.
Alexander_Nikitin
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@ZOHAiB, You are obviously a complete noob. it makes no sense to argue. after I posted the update cancelling my short orders I then posted a comment explaining the long setup. I drew one arrow to the downside to symbolize a retest and another to the upside to symbolize the movement that was expected. Next comment showed that a big green bar did both: first it went lower to touch the support and then it went to the upside way beyond my upside arrow. if you don't underestand you say it:"I don't understand because I am a noob". But you say: "only fools trade these kind of chart patterns." Everybody reading this comment thread understand that you are the only fool here. You wanted to show off but instead you only disgraced yourself.
Trader_ZAK
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@Alexander_Nikitin, order cancelled? thats bullshit! you were going short on resistance, how can you cancel an order if it reached your resistance? okay you said you cancelled the order because resistance did not hold, so tell me what's your criteria of opening a trade? after the drop in price. calling me a noob? anyone can see here who sells after the drop in price.
corleone7
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@ZOHAiB, You are a retard. Order cancelled because he never placed a sell limit, and was waiting on price action to confirm move to upside or downside. With price action he decided to long on fail of D-point reversal and retest of support. These patterns can be backtested and their expectancy calculated, you have no idea what you are talking about. The day you put half the work for free Alexander has put in you can talk, until then go back to your sh1tty ideas
Alexander_Nikitin
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@ZOHAiB, No harmonic trader trades harmonic patterns with limit orders. At least, a harmonic trader executes a "Terminal Bar +1" strategy. But the majority of them will wait for additional confirmation. Most popular ones are RSI and HSI confirmations. I personally use a trend bar concept. The bar that crossed resistance was a trend bar to the upside. This indicates strength and turns the perspective from bearish to bullish. In fact, it is basic price action knowledge that tells you if the level is broken or it is likely to hold and provide a bounce.