Thank you for visiting and Welcome to excellent way to learn about Harmonic Trading. This site will be updated regularly and will focus on presenting harmonic trading and harmonic patterns together with practical tips / tricks / hints to trade patterns like Gartley, Bat, Butterfly, Crab and 121 successfully. Lots of methods ilustrated with detailed exmaples. Your valuable comments will be added here or taken for further discussions on the TradingArsenal Forum . Note that from the TradingArsenal site you may download a test version of our korHarmonics - harmonic and price patterns recognition indicator (MT4 only). Examples are taken mainly from www.AMPmonitor.com - powerful web based platform that scans and alerts you on the price patterns and harmonic trading opportunities (check for more info on AMP indicator and AMPmonitor).

Monday, April 9, 2012

harmonic pattern point D and pivot point

Pay attention when the point D from harmonic pattern comes close to pivot point. Price may (and often happens) does not respect the harmonic / market geometry, and reaches the pivot level. Knowing the location of nearest pivot points (daily, weekly, monthly) may help you in defining possible price behavior at point D. You may want in such cases skip the trade or extend the StopLoss.

See example from USDJPY where 121 bearish pattern failed, but price respected nicely the monthly pivot point.

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