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.
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.....
ReplyDeleteCould you clarify the guidelines or steps that you use when considering a trade?
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.....
ReplyDeleteCould you clarify the guidelines or steps that you use when considering a trade?
Fortissio