Harmonic Trading - page 210
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Excellent work Kamyar, keep it up.
AUDUSD 15 minute
USD JPY 15 minute
GBPJPY 15 minute
EURUSD 5 minute
Harmonic numbers for currency pairs
Is there a way of programming an indicator to show what the harmonic numbers are for currency pairs?
EURUSD: Harmonic number?
Harmonic Numbers - II
Harmonic numbers are price swings that repeat with such consistency that they can be used to predict how far a price swing may go and where to place a stop when the trade is wrong. Harmonic numbers are best used for short term swing trading – from intraday to three or five day swings.
In order to find harmonic numbers you should examine 30-minute charts of the stock you are following. Find the one price swing that appears most often. This will be the harmonic number for that stock. However, don't stop there! Multiply that price swing by 1.27 and 1.618 and you will find the larger swings as well. It is necessary to gather a sample size of at least 100 to make it statistically accurate.
Completing the search for harmonic numbers will accomplish one very important principle of understanding why markets work the way they do. All price swings are related to each other by the four primary ratios: .618 - .786 – 1.27 – 1.618. Each swing will be harmonically related to each other by these ratios.
Knowing these numbers will alert you to impending dramatic price swings and volatility because once harmonic numbers begin to expand you will be prepared to see where the next expansive swing occurs.
thanks,I can download it !!!
...in strong trends harmonic pattern dont works well in short also in long timeframes.
So its not the holy grail and only illusion.
...in strong trends harmonic pattern dont works well in short also in long timeframes.
Harmonic patterns work on all time frame levels. Strong trends or not. There is no holy grail so stop looking. There is only your own discipline and the price. Your ability to look at all the time frames, and understand how they all fit together.
Harmonic patterns done correctly, takes many years of practice. But they are the most realiable way to predict the market. But are the hardest to master in my opinion. You have to understand the personality of each pair your trading. What the common retrace levels of that pair. What are the common extension levels of that pair.
Look for a,b=c,d formations and measure each in past data. This will give you an idea. Then measure the extension that follows.
They each have there own way of loosely following the rules. Euro$ follows closest.
Dave