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).

Saturday, February 9, 2013

Best two locations for the butterfly pattern


It was clearly explained here -> Butterfly pattern and Elliot Wave theory about the 2 best locations for the harmonic butterfly pattern.
To remind.
First, is at the end of impulse swing.


Second, is at the end of corrective move, example from EURUSD below.

Check the examples on the Forum.

Consider ignoring all the other butterflies. Note that harmonic pattern recognition indicators rarely analyse the location of the pattern on the chart, they often present butterfly pattern (meeting the Fibonacci price relations) in the wrong location. Now you should not be surprised anymore why so many of them fail. :-)

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