The similarity between harmonic and basic chart patterns is that, for each of them, the shape and structure are key factors to recognizing and validating a specific pattern. The next price movement can thus be projected with the goal of turning these patterns into profits. However, a key difference is that harmonic patterns are defined more precisely. They are 5-point reversal structures, containing combinations of well defined consecutive Fibonacci retracements and Fibonacci extensions, leaving less room for flexible interpretation.
Harmonic patterns continuously repeat themselves, especially in consolidating markets. There are basically 2 types of patterns: 5-point retracement structures like the Gartley and the Bat and 5-point extension patterns like the Butterfly and the Crab. Trading harmonic patterns requires patience because, due to the specificity of the ratios, patterns that appear harmonic may not be if they don't align with the proper measurements.
Is just my personal opinion; my publications do not offer any investment advice and nothing in them should be construed as investment advice. Please do your research before investing. I do not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of reading any of my publications. With the Viewing of the post you ...
Dear friends!
Here is what I think for the sterling ahead of meaningful vote on 11 DEC.
First let’s review the Monthly GBPUSD. Look at the wick of the NOV candle which was closed yesterday. Also remember that it never made a lower low since AUG. I can say there are a lot of SLs resting at 1.2662 (AUG Low) and I expect an sharp move lower once Bulls SLs hit. I do ...
Hi traders,
I have now coded my latest strategy into Tradingview. I have manually backtested the entries on the Heikin Ashi Strategy and checked them on Japanese Candlesticks for Bitcoin since 2018 January which has been the hardest time to predict and my strategy produced 81.2% gain with 1X leverage and no compounding. Just day to day normal price ...
BITFINEX:ETHUSD
Positioned at 67.97, the 127% fib extension from the previous bearish swing - from the top to the previous structure support forged last April the 1st - and at confluence with the internal extension at 161.8% fib.
https://www.tradingview.com/x/3jCcyKkw/
BITSTAMP:BTCUSD
Confluence between fibs at 2216 as eventual support area and the completion point for one major bullish bat pattern.
https://www.tradingview.com/x/h5uT5xFs/
Yen has been consolidating for over 9 months. Perhaps the most boring currency in 2018. See the monthly YEN weighted average below.
https://www.tradingview.com/x/JrxENdsp/
This made trading YEN crosses difficult throughout the year. But see how on the weekly TF, for the first time it bounced into the EMA 14 and 21 last week and nicely pulled back. ...
What this crypto is about to do over the next 6 months is impossible for me to explain in just this small text box...
This will be very laughable looking back at this post in the near future which is the only reason i am posting it..
New chapters to be explored..... 7 years cycle begins... big shift coming just wait on it...
Mark my words....
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
EURUSD, Forecast EU next week !
( Prior analysis
https://uk.tradingview.com/chart/EURUSD/slxaJ0ns-EURUSD-View-next-week-Multi-timeframe/
https://uk.tradingview.com/chart/EURUSD/1LSS6P4H-EURUSD-Sell/ )
Please support the setup with your likes, comments and by following on TradingView.
Thanks
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
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