Why You're Failing as a Harmonic Trader
There is an overwhelming amount of traders out there who are using harmonic patterns in the completely wrong way, I would like to address these issues individually to help all of the new traders out there who may not be aware of these mistakes.
1. Using the wrong ratios for each pattern.
The most common issue with...
Hey, gyus. Here's the research work on bats I did about two years ago. I classified bats according to the criteria mentioned on the chart and backtested every type. I used 5 min charts on 5 year period. This time I present you eurusd results. Every pattern was found and measured manually.
Hey, mates. Here's the third part of the research work I did about two years ago. I classified the bats according to the criteria presented on the chart. Then I backtested every type on 5M chart and 5-year period, calculated its accuracy to hit the 0.382AD before 1.113XA. These are the nimbers for GBPUSD pair. Feel free to check the previous parts. I attach them...
Step 1 Define the AB=200.8 pips
Step 2 (Most important)If confirmed that the price will go up for the C!
The height of BC must be(0.618-0.786)of height of AB
Step 3 If CD=AB=200.8 pips.The price will reach to 1.32524
Hey guys, this is an update to the EURJPY setup I posted last week.
We are right there at the bottom of the triangle.
What is interesting to me is the formation of an RSI bamm at Friday's closing price.
Pattern Identification
RSI Bamm at bottom of triangle.
RSI Bamm is the formation of a W/M structure at RSI oversold/overbought where this is considered a...
Hey, mates. Here's the resaeach work on bats that I have done about two years ago. I described the bats according the criteria mentioned on the chart. Then I did a backtesting of them on 5 year paeriod 5M timeframe. In this part of my research I post EUGBP pair results. Hope, you will find it useful. Hit the like button if you want me post similar stuff further.
Hey guys, first of all, thank you for the follow and all the praises you guys showered on my analysis.
Having a great start to 2017, growing confidence with trading harmonics year after year.
I am glad to share my knowledge here having learnt directly from Scott Carney.
It is Friday now and I am expecting further bearishness for USDJPY.
Pattern Identification...
Hey, mates. Here's the research work on bat patterns that I have done about two years ago. I described the bats according to the criteria mentioned on the chart. Then I did the backtesting of 5 year period on 5Min timeframe on different pairs. This one is AUDUSD results. The percentage shows the probabilty of price to hit 0.382AD before it hits 1.13XA. If no...
How to Trade the AB=CD Pattern
Hello traders, following up from my previous educational post I received several requests via private message for my take on the AB=CD pattern.
This structure represents the basic foundation for all harmonic patterns, it is one of the classic chart patterns which is repeated over and over again.
It was developed by Scott M....
Hi Traders,
Please find below three basic trading strategy's that can be implemented to any market on a daily basis.
I have only given out basic information on the ratio's and fibonacci's of the two strategy's, should you need anymore in depth information don't hesitate to contact me.
ABCD Rules Of Engagement:
1. Point C must retrace to a 0.618 of the A...
Hi Traders,
Please find below three basic trading strategy's that can be implemented to any market on a daily basis.
I have only given out basic information on the ratio's and Fibonacci's of the three strategy's, should you need anymore in depth information don't hesitate to contact me.
2618 Rules Of Engagement:
1. Double top
2. Break & close below...
Gartley Advanced formation
Tools:
*Fibonacci retracements (61.8% and 78.6%)
*Fibonacci extension (127.2%)
Timeframes:
*The Gartley Advanced formation was originally designed as a swing trading strategy. But it also works on lower timeframes.
Tactics:
*Seek to identify 4 market moves and 3 major Fibonacci zones. The combination of these moves forms the...
STAGE 1:
THE BULLISH IMPULSE LEG
A bullish impulse leg is a strong move in price action to the upside.
The impulse leg can be a mixture of bullish and bearish candles, but must have a bullish overall direction.
The start of the impulse leg should be marked as X and the top of the impulse leg should be marked as A.
STAGE 2:
B LEG RETRACEMENT
Now that...
STAGE 1:
THE BULLISH IMPULSE LEG
A bullish impulse leg is a strong move in price action to the upside.
The impulse leg can be a mixture of bullish and bearish candles, but must have a bullish overall direction.
The start of the impulse leg should be marked as X and the top of the impulse leg should be marked as A.
STAGE 2:
B LEG RETRACEMENT
Now that...
Friends, I haven't had time to post any of my trades in recent days. So i thought i would post some of the trades I took recently. I know this is after fact, but the aim is just to share the knowledge and experience. I made 4 trades, 3 winners and one loser. I will post them throughout the week as i am taking a small rest from markets during the election...
GBPUSD: A good lesson on harmonics pattern invalidation.
GBPUSD formed very good bullish BAT + bullish Butterfly pattern on 26 Sep 2016.
26 Sep daily candle closed above the critical price levels. A long should enter after that.
this pair did move up afterwards.
However, there was extreme price action on 3 Oct 2016. it was a gap down below the whole PRZ and...
