Harmonic pattern forex signal

Harmonic Patterns®. Harmonic Patterns® are based on a reversal point derived from Fibonacci levels that shows Potential Reversal Zones, known as PRZ. Failure.
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• FOREX HIGH ACCURATE % NO REPAINT HARMONIC PATTERNS INDICATOR MT4 ✅ BEST✅✅ | eBay
• Harmonic Pattern various indicators MQ4
• harmonic-signals
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• A Guide to Harmonic Trading Patterns in the Currency Market

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Close Log In. I have just come across you and I love your fire sir. I have recently learned three of the most consistent traders that I have met in my short time in this world all use your trading method. I have signed up at your website and look forward to learning more! Hello Friends, Thanks for this post, The post seems biased already, But overall i learnt somethings as well, it is true that harmonic doesnt work in a trending market, but again a trend strategy will fail miserably in range bound or consolidation markets, it all comes down to your understanding of the markets.

I wont go into details of my conditions my harmonic should display before trading but once conditions are met, here is what i do, i take each trade with 20 to 50 pips target depending on how exhausted the market is in a trending conditoin or how genrally it is. My 20 to 40 pips target are hit several times, and we reversal traders dont target the trend, we target reversals, but they give so many small wins than losses, in general several wins with few losseskeep my blood pumped up and keeps my trading alive and not emotional, each day you can make several wins, out of 10 trades, you can win 10 or 9 trades targeting 20 pips, all the trades you gave above that failed, assuming you were trading the 4hr or daily, all would have hit Tp, That is my experince, i am not an experienced trader, i am just a few months old in the markets, oh and Scott Carney, i would like to learn from you sometimes.

I equip my harmonic indicator with two more indicators, trend indicator and an oscilator indicator. Sucess rate is unbelievable. So i will stick with harmonic patterns and trade or utmost loss to win ratio. That helps to sieve out most of the misleading patterns. Or Is there any javascript library to build the harmonic patterns. I am using polygon to draw a shape in line charts. With extensive back testing on both 15m and 1hr charts which is my 2 time frames.

I have produced a great return on investment. Its obvious that we all want winning strategies and for them to perform well. Also over time we see changes in the markets and these need to be taken into account. When testing the harmonic patterns did your testing results include all target price levels Again remember without missing a trade. Also some people might like to see more winning trades this would mean taking a profit at the It may produce less winning results at the Time frame of entry on the backtesting lets say you trade between am and pm then anything else in your backtest wouldnt matter because you wont get involved in those trades.

And especially if most winning trades are out of your trading time when you are sleeping, so just an example while you sleep there are 3 winning trades with price hitting the Anyway in my testing results in some cases we could see 14 losing trades in a row over 5 pairs, for some people this is not good because psychologically they cant handle it, but we need to ensure over time we know it works if traded consistently. And also shows us where our best stop loss should be kept to produce less loss over a period of time. Lets just say its not ATR based stop but create your rules for each pair based on backtest and forward test.

It may be a predetermined FIB Ext percentage. Also I see you are having trouble identifying what would be classed as an impulse leg.

Harmonic Pattern various indicators MQ4

We call them sore thumbs, anything that really stands out, understanding a price chart is important. Major and minor structure levels also helps to identify. When i look at your chart at the very top A and E would be X to A with minor structure between. C also would be an important structure level where previous support was retested.

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Not one strategy is the same and people see different things in the market. Building your reticular activating system to identify the signals is what we get in our back testing. As soon as wee see it it just jumps out at us. Maybe you could also adopt some other trading strategies for trend continuation and counter trend trading.

This would help you when no patterns are forming and we miss opportunities. Again it still needs a plan and rules of engagement for each strategy, test test test and try to make it fail — try to find all the signals and test the crap out of it.

I hope I wasnt too bold in what I wrote. In my test results as mentioned I look at monthly performance and not day by day or week by week, 9 months produce returns and I expect at least 3 months with draw down.

This still remains after 5 years on this strategy of trading these 2 harmonic patterns. Two thoughts. I do a lot of channeling trend moves. I find many times a harmonic say a bearish in a downtrend will catch the end of a countertrend move corrective like a w2 or w4. These are like gold! I use these as warnings should the rally reach there. Otherwise, as outlined above.

Just my 2 cnts. Harmonics make you a bad trader. Focus on your execution guys, you only need a lean technical analysis. Harmonics takes a lot of studying and practice to learn it properly. For me it took 2 and a half months including 1 month full live trade to get a fine grip on Harmonics. Harmonic patterns makes your life easier. There are certain things you need to check before entering the trade.

You should check if there are any warning signals like abnormally large price candle, candle exceeding and closing past potential reversal zone, or prices gaps. You should enter a trade only after confirming a trend reversal. I am a beginner in trading and I was able to understand harmonics very quickly by watching the youtube tutorial I mentioned above and I started making profits after a lot of studing and practicing.

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I think it wont be difficult for an experienced guy like you to learn it if a beginner like me can easily understand it. I suggest you should check the youtube channel I mentioned above for easily understanding harmonics. I think that is the best channel for learning harmonics. I think you can optimize the patterns.

Then I studied each aspect in detail about Harmonic Trading from the books by Scott Carney, Only to find out that there is lot more to it than just identifying a pattern. There are clear methods of when to go against the trend and when to go with the trend. If you draw correctly than you would have get decent profit which your chart shows as well.

Whereas in the same chart you have Cypher pattern in simply sideways market, I mean how you can draw harmonics in sideways market? At the supposed completion of a pattern, let the market break out of the PRZ, drop back in, and then when it goes out the second time THAT is your trade, not blindly taking it on pattern completion. FOMO is costing you. Be patient and let the trade come to you. Please log in again. The login page will open in a new tab.

After logging in you can close it and return to this page. Have you ever heard of trading patterns called Gartley, Butterfly, Bat or even Crab? Are you ready? This is entirely up to the trader to decide. So what can you do? Consolidation before breakout So with a simple pattern like consolidation before a breakout, there is logic and order behind it.

So, what can you do about it? Losing 2 trades out of 2 Since harmonic trading performs poorly in trending markets, a logical solution would be to avoid trading harmonic patterns in a trending market. After all, you want to buy low sell high, right? Typical stop hunt Because when you have enough traders placing stops in close proximity, it becomes an incentive for dealers to hunt them for quick profits. Leave a comment below and let me know your thoughts.

Share 0. Tweet 0. Hope that helps! Hi Gav, I believe there are better Harmonic traders out there than me. Hi Anrich, Thank you for sharing. I believe there are more than 1 ways to trade the market. Hey Fibo, Thanks for sharing. Yes but how do you identify this leg, as Rayner said, there are endless impulse legs to choose.