HARMONIC PATTERNS FOR SERIOUS TRADERS After completing the bearish shark pattern and with a difference of 20 pips from the Shark pattern prz It is moving towards completing the 0-5 pattern
Comment
⋅
With a difference of 20 pips completed the pattern of a bearish shark Which we mentioned in the previous analysis
The reason for this difference in the lack of accurate treatment of the prz goes back to two issues One is that due to the very close difference to the bearish cypher pattern, the market probability between the przs chose both bearish patterns to fall.
Another reason is the data used in the analysis, which in the next tutorial post I will introduce the best type of data and the best time frame for using that data to find harmonic patterns.
However, you should always pay attention to the structure of the market when identifying areas One of the best tools for finding structural support and resistance is the use of channels and the law of channel failure It is very important that you combine the identified harmonic prz with the structural support and resistance of the market Entry points are set in lower timeframes And when you can use this combination to determine the trend change zone with a very high probability Then you can use trend-following strategies to trade Warning! This type of analysis and trading requires a lot of patience Because the number of entries at point zero to the target is low And it takes a lot of patience to reach the target And if you do not enter the right place, you may not be able to find new setup for a long time However, when the future trend can be guessed with high probability, then we can safely scalp in the direction of the newly formed trend. Without the need for much patience and the use of indicators to guess the current market trend I think this is one of the best ways to identify trends