benefits of Harmonic Patterns trading

Nice list of Harmonic Trading Benefits / Advantages:

1. Method offers excellent Reward:Risk ratio.

2. Leading indicator, projects future price move direction in advance.

3. Used on any Forex pair or market

4. Used on any timeframe

5. News independent

6. Well defined price patterns structures

7. Help to see kind of order in the market

8. High probability setups

9. Clearly defined pattern invalidation level (important for SL placement).

10. point D is the market decision point. Price will move strongly from D, or in the direction indicated by the pattern, or opposite (pattern failure). Anyway, it's high probability to have a strong move.

11. HT method is easy to combine with other trading methods (Elliott Wave theory, Pivot points, MACD, Stochastic, RSI, divergences, volume, Supply/Demand, candlestick formations, cycles and timing methods, grid and various money management techniques).

12. Perfectly fits to the traders law: "Buy low, sell high".

13. Trend reversal forecasting capability.

14. Technical, mechanical method, can be programmed, automatized. Free and commercial indicators available.

15. Combines price patterns with Fibonacci ratios.

16. Harmonic patterns occur frequently.

17. Harmonic patterns usually create a very tight potential trade area.

if you care, more on this on the Forum -> Benefits & advantages of harmonic patterns trading

Anyway, many years trading the markets already and no better method found :-)



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