Harmonic Analysis - page 175

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RyuShin:
First of all, look at the pic below. Before the UK data released, Demark 9 had been there telling us that the pair might go up and boom it went up. Well if you feel uncomfortable, then don't that's the best option. Price went up and touched DR2 where some structure support/resistance sit and then price bounced a bit and kinda tested the level of B of the bearish bat. Now it may go up again and complete the bat. Again, if you feel uncomfortable, don't take this and stay out of it. There are patterns on different pairs. This pair is not the only one

Thanks Ryu for your answer... Now we have the pullback that I wanted .... So for you this pattern is still not completed and is absolutly tradable isn't it? When we have a pullback the minimum extension that the price will test is the 113... So do you take that in account to enter at a higher price or do you not care of that at all??? The 113 extension of the last leg is arround 1.6017...

Thanks for your help

regards

 
Serijbok:
Hi traders, I have found an emerging bull cypher on AUDUSD H4 chart. The level of D point is at 0.907 (three internal fibo confluence XC 78% ext BC 141% and 127% projected fib ext of the smaller imp leg on the DX leg of cypher). This cypher could give a good reason to step into aggressive C trade of forming D1 bear bat. The D point of the bat is at the weakly downtrend line (red line on the top).

Hi Seri,

I got the same Cypher on my chart This is beatiful... I think the price could still go up from now to complete your big bat, if it doesn't the Cypher entry will be great... We have to keep an eye on it, the monthly Support is arround 0.9030 and I think it could be tested before the reversal.... I will check it and will be happy to discuss more about this cypher in a couple of days before the completion

Regards

 
Serijbok:
Hi traders, I have found an emerging bull cypher on AUDUSD H4 chart. The level of D point is at 0.907 (three internal fibo confluence XC 78% ext BC 141% and 127% projected fib ext of the smaller imp leg on the DX leg of cypher). This cypher could give a good reason to step into aggressive C trade of forming D1 bear bat. The D point of the bat is at the weakly downtrend line (red line on the top).

Very good set up. Here's my cypher. I use 78.6 XA because it's right on MS3 and I see structure level around there (78.6 XC is great too). I'll see and maybe change the entry point later.

Files:
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abdelaziz46:
Thanks Ryu for your answer... Now we have the pullback that I wanted .... So for you this pattern is still not completed and is absolutly tradable isn't it? When we have a pullback the minimum extension that the price will test is the 113... So do you take that in account to enter at a higher price or do you not care of that at all??? The 113 extension of the last leg is arround 1.6017... Thanks for your help regards

I trade when a pattern completes. I normally don't wait for pullbacks. Though I don't trade if I see a candle shoots like speed of light. I don't know if I understand you correctly on 113 extension. Could you post a pic and expand on it? Thank you.

 
RyuShin:
I trade when a pattern completes. I normally don't wait for pullbacks. Though I don't trade if I see a candle shoots like speed of light. I don't know if I understand you correctly on 113 extension. Could you post a pic and expand on it? Thank you.

Thanks for your answer...

Here a picture with what I mean with the 113extension of the lase leg... Hope that it is a little bit clearer....

I just mean entering on the 113 extention and not on the 88.6 pattern completion...

Thanks

Regards

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abdelaziz46:
Thanks for your answer... Here a picture with what I mean with the 113extension of the lase leg... Hope that it is a little bit clearer.... I just mean entering on the 113 extention and not on the 88.6 pattern completion... Thanks Regards

Oh I see. You meant 113 CD. I thought you meant 113 XA. Well you can enter at 113 CD for sure but why would you do that?

 
RyuShin:
Oh I see. You meant 113 CD. I thought you meant 113 XA. Well you can enter at 113 CD for sure but why would you do that?

Yes I ment of the last Leg.... Sorry for the misunderstood.... Im just seeing thant the minimum retracement that the price uses is 113 so my idea is to enter on this retracement... My fovorite it's when you have a pullback on the CD leg and you 127extension is in the exact area when you wanted to enter... This is a strong signal I think....

Thanks Ryu for everything

Regards

 
lobogabor:
SuperSic,

1. I personally have a combination of having a radar screen showing up selected patterns on all pairs I am interested in on all timeframes(TF), as well as I use indicators and go to my pairs and switching TFs.

Also there are services sending and showing you HPs.. (e.g. AMP monitor, which is closely the same as korharmonics indi other than commercialized - pay service). Also you can visit blogs to see who identified what and why.

Concerning this point though if you are a beginner, I stongly suggest:

- Learn one pattern at a time and practice it on one time frame on one pair. You can do it on Strategy tester of MT4, or just stepping the graph. When you are comfortable on the backtest, start that on a demo test..it will be different, so you have to get used to real life speed. Meanwhile you can backtest other pair, other timeframe, or other pattern in the tester.

2. Would anybody knew other rules as for pattern definition I think we would already know that and changed that in our practice. As for pattern definitions the rules are the same, my guess some people (including myself) sometimes might overlook some ratios or candle wicks.

Your indicators e.g have a tolerance built in 2-5% i.e. if the fibo ratio is in that tolerance for B=0.618 XA for a gartley, the indi will show you a gartley even if B is less than 61,8% the same happens with people .

Personal rules play role rather in what confirmation techniques one is using, what is the entry strategy (stop or limit order) etc..., size of entry and trade management etc..etc... many things we are doing differently, so you have to find your own way that works for you.

I did not check if Ryu had in his recommended readings, there is a book I might also recommend beside Gartley, Pesavento and Carney... it is Ross Beck - The gartley trading method.

Good luck with your jurney.

A big thanks lobogabor for recommending Ross Beck - The Gartley Trading Method. For anyone just starting out like me (or even experienced Gartley traders) this book is a must read!! I have read Carney and Pesavento but neither of these compare to this book regarding the Gartley in my opinion.

Thanks again.

 
abdelaziz46:
Yes I ment of the last Leg.... Sorry for the misunderstood.... Im just seeing thant the minimum retracement that the price uses is 113 so my idea is to enter on this retracement... My fovorite it's when you have a pullback on the CD leg and you 127extension is in the exact area when you wanted to enter... This is a strong signal I think.... Thanks Ryu for everything Regards

As long as it's your rule and it works for you, that's the way you go Different traders, different thoughts, different rules I respect all the difference cuz I could learn from it.

 

Hi All,

What do you think of analysing the Gartley USDJPY of lobogabor Like this Bat... The B point didn't touch the 61.8% XA, the WW that I draw seems to me correct... This down movement could be a correction and then continuation of the Uptrend to arround 100.4 on the monthly resistance before the crash Any idea or comments on that???

Thanks

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