HamedAghajani

Harmonic Pattern's requirements Summerized

FX:SPX500   S&P 500 index of US listed shares
Hi Traders.

I tried to summarize the conditions that should met for a harmonic pattern to be valid. I have did so for most of the patterns which I know, except for Shark , 5-0 and Three drive pattern.

Hope this help some of you; Any Question? Please ask under this thread.

Kind regards,
Hamed Aghajani
Newcastle-upon Tyne, United Kingdom
02/06/2015 11:05 BST
When searching for Harmonic patterns is there any leg that you look for specifically that helps speed up your search for them? Also, how much wiggle room do you give for the retracements? I noticed the patterns that you drew on the chart above don't match your chart exactly...in face the only retracements that look "exact" are .5 and the 1.0 on the chart. I have been looking into harmonics for awhile but I never can decide how much wiggle room to give and I haven't found a way to be speedy at identifying them. Thanks so much for your help.
+1 Reply
Thank you very much for your comment. Sorry for the delay. For some reason I have missed it.
There are few points that I can add to your question here.
i) the graphs which i draw are for demonstration purposes only, just as a mean to address the legs.

ii) The first important leg to my view is the XA impulse leg; It should have few characteristics; 1) new structural pivot with respect to previous one, as you look left. 2) have a 5 wave structure in terms of Elliot Wave Principle. (This will hugely increase the probability of the pattern in your favor)

iii) I don't quite understand what do you address here: "how much wiggle room do you give for the retracements?" Which retracement you are pointing to? which leg?

iv) I am sure with the practice you can train your mind's eye to identify them. It is the matter of effort and time. It also took me a while to be able the find the potential ones, and still it takes a lot of time to analyse time.

v) The CD leg is most important leg of the patterns. You should be able to study the internal development of the leg.

vi) it is important how close your ratios confluence at point D. If there is gap between them disregard the pattern.

Hope you find some of these helpful.

Good luck, Hamed.
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Maybe you find this helpful: Examine the CD leg development at 4H time frame
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