FX:USDCAD   U.S. Dollar / Canadian Dollar
348 7 14
Great setup: Tom Dantes SFP, AB=CD , 1.618 from last corrective wave and a Butterfly
I know it's tempting to simply act upon a Harmonic pattern at point D but it's prudent to wait for confirmation of a reversal before entering a trade. Also since the 1.4660 high of January 2016 this has been a down-trend so even more reasons to await confirmation of a reversal. The top pickers and bottom pickers become the cotton pickers! Hope you find my comments constructive as I used to get crushed like this before I learned the lessons.
Hello thank you for your comment :) I do not trade harmonic patterns - Just an overlay to the public. The reason for entering this trade was the SFP and nothing else
Like how alot of people interpretate the charts differently and utilizes the extensions, good job and good luck
Yep thats one of the main problems with harmonic patterns. I trade this from Dante's SFP and not from the Butterfly, failed gartley etc. The ABCD and 1.618 is just confluence for the setup :)
Zlatanera AleksanderThor
Totally agree, some just focus to much on one thing to happen, thats why i liked someone pointing out something different! good job from a fellow scandinavian :)
Zlatanera Zlatanera
And sorry about the Europen champoionship, what can we do.. we have Zlatan
+2 Reply
Hahahah Lord Bendtner :D
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