Harmonic Trading - page 385
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what is best pattern here?
Ab=cd ______________________
Ab=cd ______________________
you are right...but don't forget the powerfull of 1.618 external retracement....when market breaks previous low the 1.618 of that swing is a very big level for support....in all time frames.
you are right...but don't forget the powerfull of 1.618 external retracement....when market breaks previous low the 1.618 of that swing is a very big level for support....in all time frames.
I concur with you. To me, 1.272 and 1.382 levels are also significant for both resistance and support.
My inbox is empty. Could you please resend it again?
Done, but even my forum posts are getting deleted? Please let me know if you receive it!
I concur with you. To me, 1.272 and 1.382 levels are also significant for both resistance and support.
YES....BUT.....(for me...) 1.618 is a stand alone level..... 1.272 and 1.382 I use them together with other levels coming from 2-3 different swings.
If you see some images I posted...you understand what I mean.
Bullish Crab on NzdUsd H4 & D1
Bullish Crab on NzdUsd H4 & D1
I like your crab, and also my version NZD index confirms this, but I'm a little afraid for the weekly, the correction could continue?.
You seem quite exposed, possibly as protect the position?
I like your crab, and also my version NZD index confirms this, but I'm a little afraid for the weekly, the correction could continue?.
You seem quite exposed, possibly as protect the position?
both of these signals you got I wouldn't trade , simply because they both are against a very STRONG trend , you can't trade every harmonic signal you see , unless it's on a small time frame and you wanna grab a few pips and walk away , harmonic patterns are not MAGIC you must always remember that , I personally MOSTLY only take signals that are supported by trend directions , the most profitable patterns are those created after a correction .
meaning that if there is an up trend and then it goes down and you get a BULLISH signal then that's a good signal to take ,
however sometimes you can go against the trend IF AND ONLY IF the trend on the bigger time frame is in the direction of the pattern . and again it all falls to your trading strategy and money management
Today's recap. USDJPY M5 one long 45 pips and one short 40 pips. AUDUSD M5 one long 35 pips and one short 50 pips. GBPUSD M15 two shorts, 25 pips and 80 pips. Btw I missed out on them lol...