Harmonic Trading - page 521
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I have question about ABCD pattern ,how to get position with this pattern because at pic zup alert in three percent 127,161,261.8 and pattern was appear !!!!!!
Senator, I suggest you find and read R Carney`s -The Harmonic Trader book page 115 and beyond.
There is and AB=CD when the 2 legs are of the same length, and in this case the potential reversal zone (completion of the ABCD) will coincide with a 127 or a 161 fibonacci projection of the BC leg. There are also alternate ABCD˙s as well, when price runs through the first real AB=CD level. Check those situations out also based on what projection levels you get with the fibonacci projections of the BC leg. In the case when the CD completion comes to 1,27 fibex of AB, you should find there a 1,61 fib projection of BC, and when CD completes at 1,61 fibex of AB, you should get in the same completion zone a 2,61 fib projection of AB. (Carney uses the expression 1,61 OR 2,61, I dont know measure it out yourself statistically).
Also note AB=CD you find in gartley, the alternate ones in bat and butterfly and who knows in others too.
For the basic AB=CD you will find a lot of detailed droingd of this fib extension and projection, but it is hard to find for the alternate ones.
You might also want to check:
Harmonic Trader - Harmonic Price Patterns
The Alternative AB=CD Pattern and Examples
These are not very detailed LOL
Hey everyone,
Are there any methods/indicators you use aside from the harmonics indicators posted here to verify your trades?
I am currently using korHarmonicsv6.7.13, ZUP_v135 ALL NEXT, and ZUP_v113wsv63. When I get a signal on either of the three, I open a trade and set my stop loss and take profit values by the support/resistance levels. So far, though, every trade has been a failure.
I am thinking that, when I get a signal, I should wait for the price to cross below a Fib level (e.g. 38.2) and set my SL/TP values based on the surrounding Fib levels. Is this on the right path? I'm feeling somewhat discouraged seeing people making successful trades using these patterns while I am unable to replicate it.
Thanks!
Hello, all.
I just start to read, learn harmonic patterns and watch on chart. I felt most of patterns are reversal trend. Eg bearish one on eur-jpy daily chart. Bearish ones on e-usd, g-used on hourly chart.
Try small entry is the best for reversal bid. And need of fundamental drivers to support your bias. PCZ doesn't mean price is exhaustive. Price can go further 4.618, then, 7. Xx, then, 11.xx. .....etc.
My issue is that, even when waiting for a Fibonacci level to be hit (23.6, 38.2, 50.0, even 61.8), I have continued to lose every single trade I have entered. This is after confirming the trend (as well as the strength of the trend) to make sure I am only trading in the direction of trend (or either direction in the case of a ranging market).
In many cases, the Fib level is broken, the trade is opened, and the price begins ranging between TP and SL levels for several bars before swinging in the "wrong" direction and hitting SL.
I am beginning to feel very discouraged and as though this is one of those methods that looks promising when reviewing historical charts, where we already know the outcome and can see how everything turned out.
Hi,
I am new in Harmonic and have very simple question.
For example in crab pattern, AB leg length must be 0.382-0.618 XA.
Question is here:
It must be exactly 0.382 or 0.618?
Or it can be any value between 0.382 and 0.618?
My issue is that, even when waiting for a Fibonacci level to be hit (23.6, 38.2, 50.0, even 61.8), I have continued to lose every single trade I have entered. This is after confirming the trend (as well as the strength of the trend) to make sure I am only trading in the direction of trend (or either direction in the case of a ranging market).
In many cases, the Fib level is broken, the trade is opened, and the price begins ranging between TP and SL levels for several bars before swinging in the "wrong" direction and hitting SL.
I am beginning to feel very discouraged and as though this is one of those methods that looks promising when reviewing historical charts, where we already know the outcome and can see how everything turned out.Oh, panic!
You can put AMA line on chart. If bar close below the line or line move down, you hold your short trades, if not, exit. If line go flat or bar retrace to the line, you short on high end of bar with small stop loss, 20--30 pips.
Sell high with small risk, follow the line to go. God give you +pips. God love you -- working-hard men. No worry!
Hi,
I am new in Harmonic and have very simple question.
For example in crab pattern, AB leg length must be 0.382-0.618 XA.
Question is here:
It must be exactly 0.382 or 0.618?
Or it can be any value between 0.382 and 0.618?Exact value ..not the scope value between them
eg: 0.382 / 0.5 / 0.618 (someone use 0.447 also)
Hello, all.
I just start to read, learn harmonic patterns and watch on chart. I felt most of patterns are reversal trend. Eg bearish one on eur-jpy daily chart. Bearish ones on e-usd, g-used on hourly chart.
Try small entry is the best for reversal bid. And need of fundamental drivers to support your bias. PCZ doesn't mean price is exhaustive. Price can go further 4.618, then, 7. Xx, then, 11.xx. .....etc.If you look upside down reversal point are may become breakout entries !!
My issue is that, even when waiting for a Fibonacci level to be hit (23.6, 38.2, 50.0, even 61.8), I have continued to lose every single trade I have entered. This is after confirming the trend (as well as the strength of the trend) to make sure I am only trading in the direction of trend (or either direction in the case of a ranging market).
In many cases, the Fib level is broken, the trade is opened, and the price begins ranging between TP and SL levels for several bars before swinging in the "wrong" direction and hitting SL.
I am beginning to feel very discouraged and as though this is one of those methods that looks promising when reviewing historical charts, where we already know the outcome and can see how everything turned out.For your first trades why do you complicate with fibo levels :when a pattern showing up and you entry trade, put sl@-20 or -30 pips (eye on money management) and when price reaches a RT/ST that you feel get out
For your first trades why do you complicate with fibo levels :when a pattern showing up and you entry trade, put sl@-20 or -30 pips (eye on money management) and when price reaches a RT/ST that you feel get out
My initial method of trading harmonic patterns was: after getting an alert, wait for the price to retrace outside of the PRZ, then open an order using S/R levels as SL/TP values. This didn't work, so I changed my entry rule to Fibonacci levels on the logic that there are times when the price appears to retrace only to swing back and push further into the PRZ before making a final retracement.
Unfortunately, even when entering on the Fibonacci levels, I stop out. Inevitably, the price eventually retraces in the anticipated direction and completes the harmonic pattern.
Are there any fast-and-loose rules for entry? S/R lines and Fib levels do not seem to be doing it for me.