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).

Wednesday, May 2, 2012

trading harmonic patterns in proper chart locations

As we mentioned several times on the Forum the location of the pattern is very important in successful harmonic trading. 
This can be repeated like mantra over and over, but unfortunately we still meet on a daily basis questions or comments from new harmonic traders that try to take each single pattern (that meets only price relations, not even time) ignoring all the important REST.


My simplest way to assure that the pattern we want to trade has reasonable good location is to switch the chart from the timeframe we trade to the next one or two higher and see if the trade makes also sense from this new perspective.


Also, from our experience the best trades have lots of different confirmations (different techniques) pointing to the same entry point. 
Can again point you to the Gartley confirmation techniques on the Forum. It's not completed yet, but we update these sections as often as possible. Trade with an edge.







2 comments:

  1. Thank you for re-iterating this important fact! My problem additionally is knowing where in the PRZ to enter the pattern as the pattern "morphs" through the various viable ratios.....
    Could you clarify the guidelines or steps that you use when considering a trade?

    ReplyDelete
  2. Thank you for re-iterating this important fact! My problem additionally is knowing where in the PRZ to enter the pattern as the pattern "morphs" through the various viable ratios.....
    Could you clarify the guidelines or steps that you use when considering a trade?
    Fortissio

    ReplyDelete