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Powerful Use of Potential Continuation Zone with Harmonic Patterns

Potential Continuation Zone was introduced first in the book: Guide to Precision Harmonic Pattern Trading: Mastering Turning Point Strategy for Financial Trading by Young Ho Seo. Here we will show you how to improve your Harmonic trading marginally using this powerful PCZ concept.

As it was shown in the book, good harmonic patterns for your trading have a well balanced Potential Continuation Zone and Potential Reversal Zone. Typically harmonic patterns with good spread of PCZ levels will help your trading immensely. In this technique, you will be looking at those harmonic patterns in higher timeframe first. Then lock the pattern in your chart. Now change your timeframe to lower like M30 or H1 or H4, etc.

You will wait for the formation of Harmonic pattern near the PCZ level of higher timeframe. Once you have found the harmonic pattern near PCZ level, then there is potential entry for you. You will be triggered when the price crosses the PCZ level and you will trade in the direction of Harmonic pattern in lower timeframe.

This is one of the technique you can trade with Potential Continuation zone. If the formation of harmonic pattern in lower timeframe coincide with Potential Reversal Zone of higher timeframe, you can still make the same trading decision as I have described before.

With this technique, your accuracy of harmonic trading will increase marginally. This technique works well because you have good grab of market insight in both higher and lower timeframe.

Here is further tip when you are using Harmonic Pattern Scenario Planner. In this case, you will follow step 1, 2 and 3 in the screenshot. With Harmonic Pattern Scenario Planner, you can predict potential harmonic pattern formation in advance in lower timeframe. So you could anticipate at which level you will be trading before other trader. Prediction future harmonic pattern is real good stuff from Harmonic Pattern Scenario Planner.

As it was mentioned in the book: Guide to Precision Harmonic Pattern Trading, your best harmonic pattern trading opportunity will appear when you blend the three concepts well in your trading including Potential Reversal Zone (Scott Carney), Potential Continuation Zone (Young Ho Seo) and Pattern Completion Interval (Young Ho Seo).

We hope you to become truly incredible trader with our cutting edge trading technology.

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Automatic Resizing your Stop Loss and Take Profit Level with Harmonic Pattern Plus (Harmonic Pattern Scenario Planner)

Having understood all the concept behind the Pattern Completion Interval, you might observe that sometime price can react outside the pattern completion interval. Sure, there is nothing perfect in the world. As long as you understand the pros and cons of using large stop loss size, it is still fine to control your own stop loss size.

However, we still prefer to express stop loss size in terms of pattern completion interval range for convenience. For example, if the original stop loss size was equal to 1 x pattern completion interval, you can certainly use 1.5 x pattern completion interval or 2 x pattern completion interval.

Another consideration before you are using pattern completion interval, if you can enter the market at the competitive price, then you can feel less guilty when you increase your stop loss size because you are still remaining good rewards/Risk ratio. On the other hands, if you have entered market at not so competitive price, then you might be cautious when you increase your stop loss size.

Hope this less is helpful for junior traders.

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http://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

Introduction to Harmonic Pattern Scenario Planner

The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind.

Main Features

Predicting future patterns for scenario analysis
11 Harmonic Pattern Detection
Automatic stop loss and take profit recognition for superb risk management
Pattern Completion Interval for precision trading
Potential Continuation Zone Detection for future price prediction
Potential Reversal Zone Detection for Point D identification
Automatic Channel Detection to go with Harmonic Pattern (Optional)
Multiple timeframe Pattern Analysis
Multiple timeframe Pattern Detection
Guided Trading Instruction for professional traders
Pattern Locking and Unlocking feature in your chart
Even more, please find it out.


Scenario Simulation for Future Harmonic Pattern

There are powerful simulation techniques known to generate possible future price patterns like Monte Carlos Simulation, Brownian motion simulation, etc. To do so, we need to understand the price behavior including distribution and its randomness. Then we repeat the simulation as many times as possible to identify various future price path. Some future price path may be very important for your trading whereas some other price path may be insignificant. Harmonic Pattern Scenario Planner collects those significant price paths only for your advance trading decision.

How to Use

You can run Harmonic Pattern Scenario Planner like Harmonic Pattern Plus to pick up the turning point. At the same time, you can predict the future patterns for the advanced scenario analysis. The predicted pattern can be used for the earlier decision making for your trading.

Reduce commission and slippage using pending orders in advance
Worst case scenario planning before taking position
Early identification of important support and resistance lines automatically in advance
More accurate prediction of entry and exit timing
How to Trade

Each Harmonic Pattern provides you the potential entry for the turning point. You might apply few other filters to improve your trading. Some of the basic filters you can apply include RSI, CCI, MACD, Bollinger Bands, and Moving Average. More advanced filter can include Price Breakout Pattern Scanner, Mean Reversion Supply Demand, Elliott Wave Trend, and Harmonic Volatility Indicator. Please note that the trading performance can vary for your trading experience and trading skills.

Indicator Input

Here we list part of input setting. For full input setting, visit this webpage:

https://algotrading-investment.com/2018/10/25/short-guideline-for-harmonic-pattern-plus-and-harmonic-pattern-scenario-planner/



Harmonic Pattern Parameters 1 ( User Option ) ===========================

These parameters below concerns operations of Harmonic patterns. You can change button size, timeframe to detect patterns and alerts using these parameters. You can change timeframe of pattern detection. However, you cannot use smaller timeframe pattern detection for higher timeframe. For example, you cannot set Timeframe to detect patterns = H1 timeframe while you are using D1 chart.

Timeframe to detect Patterns
Max number of patterns to display
Pattern Index from which to display
Enable sound alert
Send email if pattern is found
Send notification if pattern is found
Display Fibo retracement (DC Future Price Projection)
Fibo Retracement Length
Fibo Retracement Color for pattern
Fibo Retracment Wdith for pattern
Use white background for chart
Amount of bars to scan for pattern search (1500 = default)
Detect Pattern at Every Tick: true or false only
Pattern Update Frequency (Period)
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EURUSD Market Outlook-22 March 2019

EURUSD is falling for another day. As we have mentioned, EURUSD hit the critical resistance level at mid term. Even more, overall market is bearish too.

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GBPUSD Market Outlook-22 March 2019

So we were watching GBPUSD with care since it seems that it is the center of market volatility. Today, GBPUSD hit the right bottom of the demand zone we have counted in our previous post and it went back quickly for the correction. The move was big and fast nearly 200 pips. 

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EURUSD Market Outlook-21 March 2019

EURUSD is ended with a bearish fall about 50 pips. Here is what happened on EURUSD. The presence of wedge and triangle forms a strong resistance for EURUSD. In fact, EURUSD tested the resistance today but it was rejected.

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USDJPY Market Outlook-21 March 2019

As we have mentioned in our previous USDJPY post, USDJPY maintained the bearish position last few days. Hope you got some quick profit here. 

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GBPUSD Market Outlook - 21 March 2019

Yesterday and Today GBUSD was falling nearly 100 pips. As we have mentioned, GBPUSD are pretty bearish this week. For long market view, probably this is good description of what GBPUSD is at the moment. 

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Most advanced Elliott Wave Software for your Trading

Elliott Wave Trend is the most advanced Elliott Wave Trading software, whith capability to scan Wave .12345 pattern and Wave .ABC and Wave .ABCDE. Elliott Wave Trend was built on the concept of Precision Trading with Elliott Wave Structure Score. Our Elliott Wave Trend is professional tool for professional trader. Yet, the price of it is affordable.

With Elliott Wave Trend, you can also share your analysis with your Friend and clients through Elliott Wave Reader.

Our Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 version.

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EURUSD Market Outlook - 20 March 2019

EURUSD generated 100 pips for bullish trader. 

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GBPUSD Market Outlook-20 March 2019

This week GBPUSD seems the driver of the market. GBP (British Pound) is moving with its own agenda generating the most of volatility. Bearish sentiment is stronger with GBPUSD and other GBP symbols. I have marked some important supply demand zone in chart for your trading.

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EURUSD Market Outlook-20 March 2019

Market is slight more favored towards bull. CAD seems to be most bullish symbol at the moment. EURUSD is moderate bullish still. It is very slow and approaching to the supply zone as close as 5 pips now.

Analysis was generated from Harmonic pattern plus.

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Free tools for your trading and investment.

Do not forget that we have lots of free tools for your trading and investment. Free is really free, so enjoy them.

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Also you can access to our free articles and manuals in this link below:

http://algotrading-investment.com/price-action-and-pattern-trading-articles/

GBPUSD Market Outlook - 19 March 2019

Here is the some important levels for GBPUSD for your trading generated from Advanced Price Pattern Scanner + Harmonic Pattern Plus. This is the continuation of the triangle patterns we have shown in our previous post. 

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EURUSD Market Outlook-19 March 2019

Overall market is bullish. EURUSD is taking the moderate journey towards the supply zone. It is now just 10 pips away from the zone.

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Elliott Wave Trend is the most advanced Elliott Wave Trading software, whith capability to scan Wave .12345 pattern and Wave .ABC and Wave .ABCDE. Elliott Wave Trend was built on the concept of Precision Trading with Elliott Wave Structure Score. Our Elliott Wave Trend is professional tool for professional trader. Yet, the price of it is affordable.

With Elliott Wave Trend, you can also share your analysis with your Friend and clients through Elliott Wave Reader.

Our Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 version.

https://algotrading-investment.com/2018/10/25/how-elliott-wave-can-improve-your-trading-performance/

Link to Elliott Wave Trend.

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USDJPY Market Outlook-18 March 2019

USDJPY was pretty bearish since the formation of BAT pattern. Few hours ago, USDJPY tested the Potential Continuation Zone but without success. 

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GBPUSD Market Outlook-18 March 2019

Market ended generally bull but Pound (GBP) was pretty week against other currency pairs. Last few hours, GBPUSD was in fact taking some bullish correction with formation of AB=CD pattern. Now we might wandering why the bullish moment was not kept. It is because we have triangle pattern and PCZ confluence. 

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EURUSD Market Outlook-18 March 2019

Bullish sentiment is little stronger than bearish sentiment in the market. As we have mentioned, EURUSD is approaching to test the supply zone. For your information, I have locked this supply zone in my chart. To do so, just follow the two step process in Mean Reversion Supply Demand. 

1) Press Lock button

2) Click around the edge of the supply or demand zone you want to lock. 

That is it. This will turn your demand or supply zone to green locked zone for your future reference.

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EURUSD Market Outlook-17 March 2019

EURUSD had a nice bullish move last week. In fact, it was still moderate move comparing to other symbols correlated to EURUSD. We are still having 3 drive patterns in position. We recommend to watch out the supply zone in term of long term sense. It is only 40 pips away from current price of EURUSD.

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