Harmonic Trading - page 108
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5m e/$
Hi, great thread here, learnt really a lot so THANK YOU VERY MUCH, especially Kamyar.
Im trying to put together a trading plan with those patterns and here is one of them on 5m e/$.
hi P.S:the positions are not opened based on the pattern.
hi Kamyar.
are you use another trading system that you think it is better than patterns?
by the way in your charts i see Harmonic tool demo that writen
by you and Katz.would you please explain about it and tell me how i can get it.
regards
ahmad
hi Kamyar.
are you use another trading system that you think it is better than patterns?
by the way in your charts i see Harmonic tool demo that writen
by you and Katz.would you please explain about it and tell me how i can get it.
regards
ahmadhi ahmad
yes i am using another trading system besides my harmonic method.i dont say which system work better and i have not relinquished my harmonic approach,the new system that i'm using is making pips for me so it is good.(no matter which is better i use any system that makes pips and i'm not a fan of any thing,these two have been working well for me so far).i'll open a new topic about it soon.
about the indicator :
it is made by a cooperation between me and one my friends who is one of the best programmers that i have ever seen.u can find it no where as we have not published it yet.
cheers
kamyar
usd/jpy
What im trying to do is to find a potentional pattern on larger tf like 1H or 4H and then when price is in its PRZ i look for a pattern on 5m-15m time frame. Thats today`s combination on usd.jpy 4h-5m. This way I dont have to wait for a confirmation bars or confirmation by indicators - I just use price of smaller tf PRZ to enter.
What im trying to do is to find a potentional pattern on larger tf like 1H or 4H and then when price is in its PRZ i look for a pattern on 5m-15m time frame. Thats today`s combination on usd.jpy 4h-5m. This way I dont have to wait for a confirmation bars or confirmation by indicators - I just use price of smaller tf PRZ to enter.
hi
i see what r u talking abou.it would be nice trick.but it is suggested that for this kind of somehow aggresive entry we should look for entry sign in 1 or two time frames lower.
for example
if we get a pattern in H4, for enetry we can look for a reversal sign in M30 or H1 and so on.
of course if we have a good entry trick like yours that really works, tarding with these pattern would be great specially in terms of R/R and risk managment issues.
by the way,if u r getting good results with your entery method it is great.
keep the good work,and give us feedback.i hope this work as the entry technique in the system is one the most important and vital points.
cheers
yes, thats exactly my point, I always try to keep good risk/reward ratio which in this case is like 1:3-1:4 + im thinking about getting out of the market at TP from lowers tf with half of the position and let the rest get to TP from higher timeframe or go for a break even. SL I would use on those entries from lower timeframes should be about 15 pips so really no stress on those trades. The downside of this is you will miss some patterns simply because there will be nothing to enter on lower timeframe, the good thing is you have verys small SL and good risk/reward, also I think this trick allows to eliminate some failed patterns from higher timeframe or at least get a break even trade fast and wait for another setup.
Anyway, I have to do much more forward tests of this and will be glad to share results. Also to not get bored (waiting for 4h or 1h pattern
Im trying to figure out more of a scalping technic with 5m timeframe alone. The thing which concerns me right now is: if those are price patterns based on fibo ratios why the heck there is no time ratios in it? I have some ideas of how to incorporate fibo time ratios to it but still testing it. Just an idea, think about it.
cheers
price-time relation
I belive (mostly hope
) there is a strong time and price relation on those patterns. So trying to figure out if there is any this is one of the ideas which actually work... well at least on those I looked at recent couple hours. I could find anything interesting with fibonacci time proportions which seems odd to me but anyway... I pulled out heavy armor which is Gann - or better to say my understanding of Gann.
There is a problem with those patterns (not only those actually). Usually there are couple of potential entry zones, we have to use tricks to enter them and pick the good ones. Which ofcourse leeds to a bit of a lag - not a big problem anyway but... maybe there is a way to figure out which PRZ actually should work without using indicators or price action. Well, just maybe... but if anything is actually going to show which PRZ is best for entry point I belive it will be TIME. Again, I strongly insist that if the market moves in proportions on price (those patterns prove that) it should also move in proportions in time. So following Gann`s idea (not only his idea actually) then there is a moment in time and space (price) when they meet and produce sort of price/time resistance. If this happens price should change its direction i that very moment and place.
the recent one on eurusd, calculated the very same method...
usdchf
too bad its after the fact... still interesting thou
gbpusd PriceTimeZones
if pattern holds then these are potential price and time zones for it.