Bat bullish on forex USDJPY M5.
Showing posts with label ampmonitor harmonics. Show all posts
Showing posts with label ampmonitor harmonics. Show all posts
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.
Read more...
See example from USDJPY where 121 bearish pattern failed, but price respected nicely the monthly pivot point.
Read more...
Monday, April 2, 2012
AMPmonitor forex harmonic patterns recognition
AMP indicator has functionality to present pattern in advance (so called emerging pattern). Emerging pattern is very useful. Allows trader to prepare for the trade, apply his/her own confirmation techniques and decide if it's worth to trade the pattern.
From Emerging pattern changes to Completed. This means all swings within the pattern meet the pattern criteria. This is the moment to execute the trade.
Completed pattern can move into Running or Invalidated status. Running means that pattern is on the way to reach the Take Profit level (TP1 and/or TP2 are 2 default TP levels defined in AMPindicator / AMPmonitor). Invalidated status means that price hit the Stop Loss level.
Emerging 121 pattern:
Completed 121 pattern:
Running 121 pattern:
AMPmonitor functionality ( harmonic patterns recognition tool )
AMPmonitor - Most powerful pattern recognition indicator for MT4 platform which boasts of an advanced search engine, fully configurable patterns and built in confirmation methods provided by professional harmonic traders.
It has not been released to the public, but you can “use it” via AMPmonitor website.
To read about AMPmonitor check --> http://tradingarsenal.com/ampmonitor/
It has not been released to the public, but you can “use it” via AMPmonitor website.
To read about AMPmonitor check --> http://tradingarsenal.com/ampmonitor/
AMPMonitor has a unique layout that splits the patterns according to their maturity:
a.Emerging Patterns will identify and inform you about potentially forming patterns early enough before it actually forms. This is a huge advantage, giving you time to review the prospective trade, applying your own confirmation technics and qualify the opportunity.
b.Completed Patterns present patterns that have already met all defined price, time and other conditions.
c.Live Patterns show you how the market evolved since the completed pattern. Both successful and failed/invalidated patterns are displayed here.
Read more...
a.Emerging Patterns will identify and inform you about potentially forming patterns early enough before it actually forms. This is a huge advantage, giving you time to review the prospective trade, applying your own confirmation technics and qualify the opportunity.
b.Completed Patterns present patterns that have already met all defined price, time and other conditions.
c.Live Patterns show you how the market evolved since the completed pattern. Both successful and failed/invalidated patterns are displayed here.
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