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Harmonic Patterns

#1 Day Trading Strategy (Updated)I have found extreme success with this strategy in day trading. I use it every day I trade and is most certainly the best strategy I use. Below are the details, feel free to comment if you have any questions. Name: Opening Range Breakout Target Stocks: This strategy is a momentum strategy so stocks with above average volume work very well. Look for stocks with over 20 million volume and above the 10 day average. Volatile stocks are great, we want to catch a big move. Buy Trigger: Any break up or down of the range of the first 5 minute bar(as shown above) Stop Loss: The opposite end of the first 5 minute bar is the stop loss. (This helps keep losses small in most cases) Trailing stop loss: You can use an EMA line. Some I use are: 12, 13 or 14. (Also note I like I like to be out of these trades by 12pm - 2pm EST) Extra Notes: Trading Views built in hot list stocks work very well with this strategy This strategy also works very well with the 15 minute time frame This strategy is strictly a day trading strategy, do not hold over night Key Points: Respect the rules of the strategy, that is what makes it work best. If you have additions to the rules that is fine but make sure when trading this you have a set of rules you follow every single time. I hope you guys enjoy this strategy and get as much use out of it as I do. Like always, I encourage you to do your own backtesting and try it out to see if this strategy works with your style. For more details check out Delta Trading youtube linked in Bio. (Full tutorial there) Hope you guys enjoy!!!
AMEX:SPYEducation
by MindOverMarket
13
BTC 1D Chart 1.12.2022 Death Cross Is Combinate with H&S !!ONLY EDUCATIONAL The "Death Cross" pattern is one of the most effective technical instruments in identifying a major trend reversal in any stock/index. Simply put, it explains how the negative convergence of moving averages impacts the upward trend and pushes prices into a bearish phase. Key : The Death Cross having more moving averages converging together shows a very strong indication of a sell-off. If the volume after the Death Cross shows a significant rise, then the downward trend is likely to gain strength. If the price trades above the moving averages, then the selling pressure may require strong volumes to suggest a major turnaround. Otherwise, the price may hold support around the same moving averages. If the price is below moving averages, then the impact and selling pressure is likely to be severe. In such a case, any positive corrective move will witness strong resistance at every higher level. The first sign of selling pressure gets deteriorated as these moving averages start turning upward. As the moving averages get closer indicating a possible Death Cross on the charts, the amount of rise in a stock price starts indicating selling pressure with higher levels showing strong resistance. This attribute helps short-sellers to gauge early indications of change in trend. One can also notice that during the formation of a Death Cross, all other technical patters start showing negative signs in their respective parameters. Death Cross versus Golden Cross While Death cross indicates the negative crossover of moving averages, the Golden Cross depicts a positive reversal. Herein, the moving averages converge in an upward direction suggesting a strong positive upside. This upward momentum exhibits firm positive sentiments with price scaling higher levels in the subsequent sessions. Death Cross and chart patterns Whenever the Death Cross is accompanied by chart patterns like Head and shoulder, double top, etc., the signal gives strong confirmation without any bias and the trend witnesses a steep correction in price. The price is very relevant in providing confirmation of a trend and, if supported by any other instrument like trend line breakdown, consolidation breakdown, gap down, bearish engulfing; then the weakness sees strong negative momentum with price eventually entering the bearish phase. Indications provided by a Death Cross pattern A major shift in sentiment from bullish to bearish phase. An ideal indication of shorting opportunities with short to medium-term perspective. If the index of a particular sector forms a Death Cross, then the price of all those stocks in the sector will not show any rise in price, no matter whether those stocks have formed the Death cross or not. The volumes accelerate if the counter closes in negative sessions for over three days. Finding a bottom is highly discarded in a Death Cross formation. Always trade Base on your Knowledge and Decision . Like If you fund this useful. Happy Deep Discount To Everyone
Education
by Rayman13XX
17
My #1 Day Trading Strategy Opening range breakout is something that I use daily for almost all of my plays. It's very simple. If the high or the low of the first five minute bar is broken. Take an entry in the way the stock broke. I have seen so much success with this strategy. There is much more that goes into it like stop losses and where to take profits. Those will all be explained in further tutorials. also this strategy is not at all a swing trade strategy, this is purely a day trade strategy that is only used in the morning as the market is opened. I challenge you guys to go through charts yourself and look for opening range breakouts. Also note this works best on the 5 minute chart or 15 minute. Hope you guys see as much success as I do with this very useful strategy!!!
AMEX:SPYEducation
by MindOverMarket
5
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CBOT:UB1!Education
by d-MR96nBa
13
BTC 1D Chart . BTC Head and shoulder Dear All This the only Educational theory and its is not financial advice . Like the post if you fund it useful H&S Pattern: The head and shoulders chart pattern has become a stalwart in the arsenal of many traders over the last few decades. The reason is not difficult to find: it has proven itself to be a remarkably reliable indicator of future price movements. As the name implies, the pattern looks very similar to a head with two shoulders on the side. The following graph shows a typical head and shoulders pattern. Typical Head And Shoulders Pattern Typical Head And Shoulders Pattern Reversal Pattern The head and shoulders pattern is what is referred to in the industry as a reversal pattern. This simply means that when a CFD trader encounters this pattern on a stock, FX or commodity chart, chances are very good that the underlying security is about to undergo a change in trend. The pattern has two different versions, one that appears in uptrends and one that appears in downtrends. The traditional pattern pictured above appears when the uptrend is about to be reversed and a downtrend becomes a very high likelihood. Before The Uptrend The second version, sometimes described as the inverse head and shoulders, usually appears in a downtrend and this signals that the trend is about to reverse and that a new uptrend has become a high probability. Note how the volume increases once the new trend gets properly underway. Typical Inverse Head And Shoulders Pattern Typical Inverse Head And Shoulders Pattern Similarities: Peaks And Troughs The construction of both types of head and shoulders patterns is quite similar. Studying the chart will show a head section in the middle, two shoulders on the sides and two necklines between the shoulders and the head. What the trader should wait for, here, is the second shoulder to form and the price to break up or down above or below the second shoulder. This is happened the point A in the Chart, The head and shoulders together form a set of peaks and troughs. On the other hand, the neckline provides a level of support (during and uptrend) or resistance (during a downtrend). Down's Theory Essentially the pattern is based on an analysis of peak-and-trough analysis in terms of Down’s Theory. An uptrend can be interpreted as a series of successive rising tops and rising bottoms. Whereas, a downtrend consists of a series of lower highs and lower lows. When the trend starts to weaken, these ‘peaks and troughs’ fail to make new highs (during an uptrend) or new lows (during a downtrend) -- hence the trademark troughs of the head and shoulders pattern. Note that the two troughs do not always fall on a horizontal line, the second one might be slightly higher or lower than the first one. Sometimes, immediately after breaking through the ‘neckline’, the price of a security will revert back to the neckline. Breaking Through The 'Neckline 'Breaking Through The 'Neckline' The 'Throwback' At the point marked ‘throwback’ the price had broken through the shoulder and then dropped back to the same level. This is no cause for alarm. All it signifies is that what previously used to be a resistance level has now changed to a support level. It actually underscores the strength of the signal. If the price, however, drops significantly below the shoulder in what is supposed to be the start of a new uptrend, it could mean the trend has been broken and that the previous downtrend would continue. Trad Base on Your Decision and Knowledge . Happy trading
Education
by Rayman13XX
TRIPLE TOPHello everyone Today I want to share with you a figure of technical analysis called the TRIPLE TOP. This figure occurs quite often and brings excellent profit. What does it look like? The figure looks like three maxima, approximately at the same level. These peaks are formed because the buyers' forces are drying up and with each new peak, the bears are getting stronger. Very often, the third peak will be higher than the previous two - this is the last gasp of buyers, before capitulation. How to trade? The main criterion is the formation of three peaks, after a strong uptrend. After that, the price makes the last spurt (the third peak) and breaks through the support. This breakout is the first possible entry point . Often you will observe how the price makes a retest of the level, after which it turns down. The second possible entry point will be this retest of the level. To calculate the potential profit point , you need to measure the height from the minimum to the maximum of the vertices. This value, plotted below the breakout, will be a potential profit point. The stop loss is set above the maximum of the vertices. Conclusion The figure is very profitable and often found. In addition, you can find a triple bottom on the chart, which trades in the same way as a triple top, only in the opposite direction. Very often, after a triple top, a strong downtrend begins and holding a part of the position can bring big profits. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
16
ready to jump Ascending Triangle: An ascending triangle is a breakout pattern that forms when the price breaches the upper horizontal trendline with rising volume. It is a bullish formation. The upper trendline must be horizontal, indicating nearly identical highs, which form a resistance level. The lower trendline is rising diagonally, indicating higher lows as buyers patiently step up their bids. Eventually, the buyers lose patience and rush into the security above the resistance price, which triggers more buying as the uptrend resumes. The upper trendline, which was formerly a resistance level, now becomes support.
Education
by autotraded
Day or Swing Trading Avoid impulse Buying To be successful in Market : Buy or Sell at price intervals {Buying all your available money at one price may cost you time and profit opportunity } Before trading identify two key point that is lowest price and highest price of the candle or series of candles Instead buying at highest point with all the allocated money Buy 20% quantity at the current price Set the next buy order when the price corrects to 5% from the previous buy (% may vary based on the price value of the stock) Repeat this cost averaging 5 to 10 times during the buy prices In this way more quantity ,reasonable averaged price entry is possible Set a target price ,Do not sell all the quantity at one price Follow the ladder selling approach to maximize your returns Mainly such standards helps avoids impulse buying ,Gives more Mind contro l ,Helps reducing emotional attack over a period of time. A Rhythm is set in your mind not to panic by seeing the fluctuated volatility of the market ,Market goes up or down you will be cool to get your fish at right price
NASDAQ:TSLAEducation
by MarxBabu
HEAD AND SHOUKDERS PATTERNWhile we get ready for the holidays we thought we would post some chart patterns for our newbies over the next few days. The head and shoulders pattern is a formation of 3 peaks with the head being the highest peak (Lowest on inverse). The entry should be below the neckline (Above on inverse). The measure of take profit can be taken by measuring the peak of the head from neckline and using this range, as an indicator of the take profit level. Please do give us a like, comment and follow to support us. GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
5
DESCENDING BROADENING WEDGEDescending broadening wedge happens during a downtrend. which in case of breaking the Resistance of the wedge it can bring in a good setup for a long on the asset. Price makes a low and rises. We then track price as it rises away from the low. We are looking for lower highs and lower lows in a tight range. The lower highs make a falling trendline, this forms the upper boundary to our pattern. The lower lows make a lower falling trendline, this forms the lower boundary to our pattern. With the Descending Broadening Wedge formation, we are looking for two touches to each trendline. Both the upper and lower trendlines should fall. The lower trend line should fall more steeply than the upper trendline thus forming the broadening wedge.
TVC:SPXEducation
by Zivul33
2
Fibonacci Waves / Weak Market Hypotheses On the above chart I investigated the relationship and continuation of 'waves' within the Fibonacci Circle. Due to its incredible success, I decided to look over it again. On this chart I show very comparable formations (formation 1) (formation 2) Formation 1 is contained within 0.786, while formation 2 extends through the 1 level Applying the same Logic with the continuation through 2.618, the bars pattern placed is price inverted from previous move through 2.618 The Weak (form) Market Hypothesis suggests " that today’s stock prices reflect all the data of past prices and that no form of technical analysis can be effectively utilized to aid investors in making trading decisions." I find this interestingly applicable to this scenario, with repeated formations, in repeating fib levels.
BITFINEX:ETHUSDEducation
by Bixley
8
Quasidomo - A simple yet effective set-up (Reversal)Greetings my fellow traders, today we'll be talking about a set-up which I find, is often underused. A simple yet effective set-up that gives you extra confluences on your trend reversal trades - Quasimodo. There are different kinds of Quasimodo entries that a trader can engage in, but today, we'll be talking about the trend reversal variation. Structure movement : Price is trending, making higher highs and higher lows, before breaking structure to the downside after Peak is formed. We then have a Quasimodo line, defined as the last higher high before the Peak, which signals a possible trend reversal. Entry : Set-up is commonly known to be entered directly at the QML line, placing stop losses right above the peak. But what I have found, in which I have back-tested and deem optimal, is to also look for possible entries in the whole DP(Decision Point) area as marked in the chart. There is a possibility price could present a stronger supply zone to enter from in the form of Drop base drops(DBD), or other formations like Wyckoff in lower timeframes, etc. The main point is to look for the ORIGIN of the move that supplied the downward move, causing the Break of Structure(BOS). Doing this makes yourself less vulnerable to liquidity grabs/stop-hunts, while greatly increasing your R:R. Points to note : Stop losses should always be set at the Peak or a few pips above maximum as set-up is invalidated once Peak is broken. : Set-up applies to ALL timeframes. : Set-up is also invalidated if price breaks below MAJOR STRUCTURE after BOS. That's all from me today, a little quick-guide to share. If you're interested in the other variations of Quasimodo set-ups, do let me know and show your support, I'll be happy to start a series of quick-guides for Quasimodo set-ups. Like to support, comment/dm me if you have any questions! As always, stay safe.
BITFINEX:BTCUSDEducation
by WicksAndPips
12