Harmonic Patterns use the identification of quantified chart price action structures that have specific and consecutive Fibonacci ratio alignments that form the visual structures. Harmonic patterns calculate the Fibonacci levels of the price patterns to identify high probability reversal points on the charts. This method believes that harmonic patterns or cycles...
It is the second most important trading pattern in Harmonic Pattern series , called Gartley Pattern which is also frequently observed in markets. This post a second post of educational series related to Harmonic Patterns ,
In this post, I cover the following things regarding the pattern
1. Pattern Traits
2. Step by Step formation of the Pattern
3. Bullish...
Hi,
Above, some harmonic patterns that i often look for (bullish ones)
These patterns, when identified, have a good risk/reward ratio. They allow traders to enter into the market with minimal risk. Obviously, you need some other confirmations before taking the trade on the pattern completion.
If the point D occurs with some divergence on classic oscillators (RSI...
