riskmode
Short

Wait for wave 4 5 and then sell stop

FX:EURUSD   Euro Fx/U.S. Dollar
776 6 21
Wait for wave 4 5 and then sell stop
Comment: This trade doesn't look like it's going to make a 4-5 before it goes to the stop :(
Order cancelled
Hi riskmode, I like the results you are getting. Are you using software to find the patterns or are you eyeballing it? More importantly can you teach me ?
+1 Reply
riskmode Black8ear
I use a mix of both. It's easy to find the patterns on the higher timeframes. On a pattern like this where there are many different points for X I look at the volume and which ever point had the highest volume I make my X. The most important part to finding these patterns is to make sure point D made 5 waves that follow elliott wave rules. Lots of people sell on a wave 3 which is a guaranteed loss.
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Didn't comply with harmonic pattern ratios.
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riskmode purpurato59
The only ratios that matter are that AB retraced at least 38.2% and BC retraced at least 38.2%
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Not as I know them.
I recommend you a good book on the subject "Harmonic trading" by S.Carney.
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riskmode purpurato59
Everyone who has backtested the ratios in those patterns he made up knows they are meaningless. The winrate from the ideas i've published on tradingview speaks for itself.
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