Harmonic Analysis - page 146
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
You do know, that I do not understand it...whatever it means OXABC vs. XABCD... Could you please explain what does it mean from practical standpoints other than marking convention?
It's not as complicated as you think lobo. When you draw a pattern, let's say gartley, you draw XA = swing high to swing low which means X is swing high and A is swing low. With shark pattern, it's opposite. X is swing low and A is swing high. B of shark is XA inversion (or simply extension). Last but not least, C is AB extension between 161.8-224 (personally I use 161.8-200). Shark completes when price reaches 161.8. It's not considered that it completes when price reach 88.6 retracement of OX nor OB. Take a look at another pic of example below.
You do know, that I do not understand it...whatever it means OXABC vs. XABCD... Could you please explain what does it mean from practical standpoints other than marking convention? All I know I could combine it with a bull 5-0 and then I would have to put up with extra work to rename mi swings... all that I know, but I do not place the 5-0 until the 50% retrace from D (C of shark).
And here's 5-0 pattern.
It's not as complicated as you think lobo. When you draw a pattern, let's say gartley, you draw XA = swing high to swing low which means X is swing high and A is swing low. With shark pattern, it's opposite. X is swing low and A is swing high. B of shark is XA inversion (or simply extension). Last but not least, C is AB extension between 161.8-224 (personally I use 161.8-200). Shark completes when price reaches 161.8. It's not considered that it completes when price reach 88.6 retracement of OX nor OB. Take a look at another pic of example below.
Thanks for the explanation, but then should it not be the same for a cypher? Cypher is the same unless it will stay within the limits of the first swing (in shark example "O").
I could not measure it, but the shark in your example followed by a 50% retracement from BC, thus likely you had a bull 5-0, shooting up from the "D" of the bull 5-0...
Maybe I am dumb
...
Just pls. explain then the cypher vs. shark to me, it might turn on the light for me.
Thanks for the explanation, but then should it not be the same for a cypher? Cypher is the same unless it will stay within the limits of the first swing (in shark example "O"). I could not measure it, but the shark in your example followed by a 50% retracement from BC, thus likely you had a bull 5-0, shooting up from the "D" of the bull 5-0... Maybe I am dumb
Come on you're not dumb lobo. I had hard time understand shark before. Just remember that cypher is cypher and shark is shark. Do not combine them. There will always be time when you draw a cypher, you find shark too. Keep it mind, the way of drawing shark is totally different from cypher. If you know how to draw a shark, you won't be confused anymore. 5-0 completes at 50 retracement of BC of shark.
There was also a bearish ABCD. Now we have a potential bullish cypher.
The cypher worked out.
The gartley didn't make it but the good thing is I didn't take it. We now have a potential bearish crab.
The crab worked out. Now we have a potential bullish bat.
I don't remember if I posted this as a potential pattern but anyways this bullish N200 on GBPJPY worked out nicely.
Weekend review - USDJPY. A bullish cypher and a bullish crab completed early on Tuesday. Price touched the PRZ and went north. My target was B of the crab. A bearish cypher pattern on 30m completed on Wednesday. My target was 38.2 retracement of CD of the cypher. There was one more cypher completed on Wednesday. Price touched PRZ and bounced. My target was 38.2 retracement of CD but before it reached 38.2, it's already got 35pips so I closed. In total 210pips.
Weekend review AUDUSD and NZDUSD. A bearish gartley 55pips. Two cypher patterns 60pips and a bearish butterfly 30pips. In total 145pips. I missed two gartley patterns on AUDUSD.
Weekend review - Bullish cypher 70pips on EURUSD, bearish gartley 20pips and bearish crab -21pips on EURCHF, bullish bat 40pips on EURAUD and bearish gartley 40pips on USDCHF. I missed a bullish cypher on EURAUD after the bat.