NYSE:YOKU   YOUKU TUDOU INC
312 12 2
The yellow SHARK played out very nicely. Now, it looks like a Butterfly is in play.
hussain9 PRO
2 years ago
thanks a lot . I have a question , can we consider this pattern as a shark and the C didn't reach 1.13 of AB ?
Reply
KLang PRO hussain9
2 years ago
The measure tool in the ab+cd is incorrect. I ALWAYS measure with the fib tool before drawing the pattern. In fact, I'm not going to use the ab=cd drawing tool anymore as it just throws people off. I'm just using the triangles to draw harmonics now.
Reply
hussain9 PRO KLang
2 years ago
For my simple opinion its not a shark pattern even if we used the fib. If we toke a larger frame , weekly , we are going to find a beautiful Bearish Crab .

snapshot
Reply
KLang PRO hussain9
2 years ago
I'm sorry - but this doesn't make sense to me. The PRZ has already been hit on the formation you drew. There is no target associated with the reversal itself. I don't understand where you've come up with this PRZ.
Reply
hussain9 PRO KLang
2 years ago
yeah you are correct because scott carney didn't talk about it , but only some harmonic traders proficiently using it .

http://www.mbc66.net/upload/uppng2/cTW37851.png

it was an excellent discussion with u . Thank you .
Reply
KLang PRO hussain9
2 years ago
Oh that's very interesting. It could be the case. Who's methodology is this?
Reply
hussain9 PRO KLang
2 years ago
As you know in every completed pattern there is reversal and another PRZ point entry like this :

snapshot


and about the method you asked me about , I learned it from the best harmonic traders , no name for it but it talks about the target price after finishing the harmonic pattern .
Reply
KLang PRO hussain9
2 years ago
That's interesting - I've never seen reversal targets after reaching PRZ - in fact, I often see price simply make a small retrace and forge ahead again, which why I much prefer to play to the PRZ rather than the actual reversal itself. It seems to be more reliable. You obviously have more experience than I with these harmonics - but I do like them very much.
Reply
hussain9 PRO KLang
2 years ago
you have to hunt them again because after every completed pattern there is a correction and a change in the trend that you don't want to miss it . wishing for you the best luck .
Reply
KLang PRO hussain9
2 years ago
I don't find that to always be the case. Sometimes they just pull back a little or consolidate and then continue on. Which is why I find the reversal too difficult to play :)
Reply
hussain9 PRO KLang
2 years ago
you are playing the reversal now but in another way :) as your pattern is the bullish shark and your reversal pattern is a butterfly :) so you are playing it in another way LOL
Reply
hussain9 PRO
2 years ago
snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out