Harmonic Analysis - page 172
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Hi Ryu Shin, I am totally new to Harmonics but was told by a professional trader that I met at a wedding recently that this is the way to go, as such could you please tell me where is the best place for me to start as I can see this thread is more about the setups, I notice there is a Price Pattern thread on here so I take it I should work my way through that thread first?
Thanks
Hey Ryu I'm an avid and discreet fan of core harmonic patterns it's ratios and analysis taken from knowing how to read it but I am only a spectator from afar meaning I do follow this thread and use it's info I am just no where near compared to what is going on around here I tend to just look into the calls of this type of analysis to go along with what my market profile,tpo and vpoc indy's are telling me....So please keep up the great work here there are a whole lot more people that isn't saying anything that are truly benefiting from this method which you and all it's other participants are displaying.... See what I'm talking about!!?? Everyone wins!! WOW!!!.... The more you do and show while telling how you did it the more you learn and get better at it the craft that is(feedback plays not as big a part as one may think yeah it counts but it's really about as long as you yourself participate)..and all in the meanwhile while all this is happening the ones who see what you are showing are also learning and getting better at doing it eventually being able to go on showing and telling it....See look at this wonderful cycle and proof of motivation to do nothing else but only continue to go forward doing it....just do it that is!!!! Peace Ryu and happy trading next week I know you can't trade tomorrow don't sweat it I know folks who don't trade fridays or sundays anyway plus there some that claim liquidity doesn't start meaning the real market moves don't start until wednesday when the banks collect their swap rates for the week so either way the market isn't going anywhere and you can count on tearing it up again next week when you return...nothing wrong with a little rest from the markets whether willingly or unwillingly
I believe I'm getting better but no time for me to settle. I want this performance consistently. I don't want to be too excited because greed might come up and attack me. Don't me wrong, I thank you so much for your encouragement and kind words. It motivates me a lot. Thanks for the headsup I'll just keep analyzing market with harmonics, ratios and structure to trade.
Hi Ryu Shin, I am totally new to Harmonics but was told by a professional trader that I met at a wedding recently that this is the way to go, as such could you please tell me where is the best place for me to start as I can see this thread is more about the setups, I notice there is a Price Pattern thread on here so I take it I should work my way through that thread first? Thanks
Hello SuperSic, I think first of all you should know how you'd like to trade with harmonics. Would you like to be able to find and draw by yourself or would you like to use harmonic indicators? Either way I guess you should know what harmonic patterns are used in trading so check on the thread Price Pattern. There are about 37 harmonic patterns found today but I don't think you should know all of them. Learn classic (and basic) patterns (gartley, bat, butterfly, crab, ABCD, AB=CD etc..). You can also check trading book called "Harmonic Trading Vol 1&2" by Scott Carney.
Hello SuperSic, I think first of all you should know how you'd like to trade with harmonics. Would you like to be able to find and draw by yourself or would you like to use harmonic indicators? Either way I guess you should know what harmonic patterns are used in trading so check on the thread Price Pattern. There are about 37 harmonic patterns found today but I don't think you should know all of them. Learn classic (and basic) patterns (gartley, bat, butterfly, crab, ABCD, AB=CD etc..). You can also check trading book called "Harmonic Trading Vol 1&2" by Scott Carney.
Thanks for the fast reply. I think to start maybe it would be good to use an indicator until I get experience in spotting the patterns, but I notice many indicators, which is best for the basic patterns only?
I will start looking at the classic patterns only and I will look at the books you speak of as well.
Thanks for your help
EURUSD 30m - Potential bearish gartley (tradable because B didn't reach 61.8 but almost reached). Structure level around B is a first key to watch.
Another Good Bullish opportunity on GBPUSD... Any opinion?
Another option, bullish N200.
Thanks for the fast reply. I think to start maybe it would be good to use an indicator until I get experience in spotting the patterns, but I notice many indicators, which is best for the basic patterns only? I will start looking at the classic patterns only and I will look at the books you speak of as well. Thanks for your help
I recommend ZUP_113wsv61 for a starter. It's very accurate and very easy to use. You can turn on and off patterns you need. You can find the indi on the first page of https://www.mql5.com/en/forum/173588.
Thank you Ryu for the response,
As I understand the difference is only the name of the smaller pattern. I called it gartley, because the ABCD part is AB=CD. I suppose you called it bat because of B is at 50% of XA leg and the end of the ABCD is at 88% of XA but the levels are the same. Is it right or you have seen other differences?
Thank you Ryu for the response, As I understand the difference is only the name of the smaller pattern. I called it gartly, because the ABCD part is AB=CD. I suppose you called it bat because of B is at 50% of XA leg and the end of the ABCD is at 88% of XA but the levels are the same. Is it right or you have seen other differences?
I don't know if I understand you clearly but yes it's a bat pattern for me because B is 38.2-50. I would call it gartley if B of the pattern was 61.8. I would not call it garley because ABCD part is AB=CD. Ideal ABCD of gartley is ABCD pattern, i.e. B is 61.8 XA retracement, C is 61.8 AB retracement. If B is 61.8, we can draw a gartley but if not, we can't, because it's against rules. To me your pattern is a bullish 38.2 AB=CD which has completed, not gartley.
Thanks for the fast reply. I think to start maybe it would be good to use an indicator until I get experience in spotting the patterns, but I notice many indicators, which is best for the basic patterns only?
I will start looking at the classic patterns only and I will look at the books you speak of as well.
Thanks for your helpSuperSic, maybe you got it from RyuShin, but then it is just a reinforcement. Please consider indicators as a guidance only to easily and effectively find patterns, but always check on intenal fib ratios of a specific pattern, with internal fib confluences in the PRZ. Just what things might happen from my experience: most indicators are likely to bring up a pattern as a gartley because candles exceeded or closed above the 50% XA retracement at the B point. Resulting problem will be for you entering in a gartley PRZ which is around the 78% XA retracement instead of entering a bat at 88% XA retracement,... lots of extra risk in your account! This point will highlight an other one...do not trade any pattern you are not completely familiar with, even if indi has it on your screen. Be aware it is there, but use for no more, until you learn it, test your knowledge, and see it working for you most of the times! Also note indicators are also not selective between a small several candle pattern, and a real big one based on real structure of former support resistance, swing areas. You might guess the difference in probability and result between the two. It will be still your job to judge that, based on your knowledge and experience.
plz understand, I use and tested a gazillion of indicators, I do use ZUP and korharmonics and others for my analysis and spotting patterns. I just want to make you aware, that these are aids and you will most likely lose if you completely rely on those.