So guys, there a tons of way to trade harmonic patterns.... in the end most of them fail so how do people trade them successfully...
I myself decided to look into different approaches to trading harmonics. I have looked at tons of charts on different timeframes and i found an approach I was not able to find online anywhere for some reason... (wonder why)
I have never seen a trading strategy that could provide you with this amount of RRR. The risk per trade is absolutely minimum, while the return is maximum.
The process is quite simple, and im sure this is what most of the real traders out there are doing, and probably charging thousands and thousands of dollars for teaching this to people. But its all good!
First you must find a harmonic pattern. This should be easy with all the software out there. (some guy said you take the ''art'' out of trading by doing this, please don't be that guy)
For this approach, price will have to see a retracement greater then 50% of CD in the harmonic pattern.
if price retraces down to the 61.8% this will follow with a pullback to 23.6%. Afterwards price will come down at touch the 23.6%, (sometimes a few pips above or below) to trigger all the pending orders. Price will fight its way up to touch the 127.2% extension, while finding support at fibonacci retracements greater then the initial 23.6% ( it will not go under this level! )
If price retraces down to the 78.6%, it is considered strong and the move is expected to turn at 161.8%
In some cases the move will go much higher, extending up to 4.618% (!!?)
Same approach for bearish situation.
Now the price does not always retrace to those exact levels, but when it does you can be 100% sure that it will happen.
With this approach you will have signals, confirmations and entry points based on pure data!
If you happen to find this approach useful, give the post a like and comment below with your ideas.
God bless
I myself decided to look into different approaches to trading harmonics. I have looked at tons of charts on different timeframes and i found an approach I was not able to find online anywhere for some reason... (wonder why)
I have never seen a trading strategy that could provide you with this amount of RRR. The risk per trade is absolutely minimum, while the return is maximum.
The process is quite simple, and im sure this is what most of the real traders out there are doing, and probably charging thousands and thousands of dollars for teaching this to people. But its all good!
First you must find a harmonic pattern. This should be easy with all the software out there. (some guy said you take the ''art'' out of trading by doing this, please don't be that guy)
For this approach, price will have to see a retracement greater then 50% of CD in the harmonic pattern.
if price retraces down to the 61.8% this will follow with a pullback to 23.6%. Afterwards price will come down at touch the 23.6%, (sometimes a few pips above or below) to trigger all the pending orders. Price will fight its way up to touch the 127.2% extension, while finding support at fibonacci retracements greater then the initial 23.6% ( it will not go under this level! )
If price retraces down to the 78.6%, it is considered strong and the move is expected to turn at 161.8%
In some cases the move will go much higher, extending up to 4.618% (!!?)
Same approach for bearish situation.
Now the price does not always retrace to those exact levels, but when it does you can be 100% sure that it will happen.
With this approach you will have signals, confirmations and entry points based on pure data!
If you happen to find this approach useful, give the post a like and comment below with your ideas.
God bless
