Harmonic Trading - page 78
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another AB=CD. NZDUSD 1 HR.
This can also be a butterfly pattern wid the last swing being XA leg. The pair has bounced two times from the PRZ, so the probability of reversal is high.
my gods a very small for that pair right know but yes u could be right with ur pattern. I am watching this pair also :-) same with eurcad and it looks like we have same style with abcd marking :-) sailor
i learned this style from the previous posts on this thread. Maybe it was ur posts from where i learned...
I like to have the big timeframes in front of me, dollar yen broke the support area early this morning 113,42 and that level need to hold, so i think dollar yen down to 111,19 before agresive buying is seen but lol this is fx maybe we get suprised what u think
sailor
I like to have the big timeframes in front of me, dollar yen broke the support area early this morning 113,42 and that level need to hold, so i think dollar yen down to 111,19 before agresive buying is seen but lol this is fx maybe we get suprised what u think sailor
i agree... if the dollar continues to devalue like the last week, then maybe we'll see 111.19 soon.
yes i see Ziko. also daily candles start to show posible reversals and i just realized that lazy asians have vecation next week if my info is right. and ziko i was once the trader there tryed to buy tops and bottoms with the use of zig zags with the follow of loss on loss, so what i want to se is a big fat consolidation before i take action. The hardcore reality is that many people fails in trading and those who fails is newbies. Also its newbies there always are in the run for fancy indicators. I really think that kamyars meaning to start this thread was for the educational use and learn other trade gartleys manually u can se on his chart how serius he is and thats super in my opinion and i hope they join again. Ziko i have nothing against u as person and i dont want to discus that dumb zig zag indicator anymore but why dont u try and do the gartleys manually and post them then they might come back. thats the ultimate chessgame to plot it manually :-)
sailor
yes i see Ziko. also daily candles start to show posible reversals and i just realized that lazy asians have vecation next week if my info is right. and ziko i was once the trader there tryed to buy tops and bottoms with the use of zig zags with the follow of loss on loss, so what i want to se is a big fat consolidation before i take action. The hardcore reality is that many people fails in trading and those who fails is newbies. Also its newbies there always are in the run for fancy indicators. I really think that kamyars meaning to start this thread was for the educational use and learn other trade gartleys manually u can se on his chart how serius he is and thats super in my opinion and i hope they join again. Ziko i have nothing against u as person and i dont want to discus that dumb zig zag indicator anymore but why dont u try and do the gartleys manually and post them then they might come back. thats the ultimate chessgame to plot it manually :-) sailor
u can call it zigzag, call it swings, called it HI-LO, it doesn't matter,
the main point is u
1-identify highs and lows (which is subjective) to form the XABCD
2- calculate the ratios of the XA,BC,XD,.... ,
3- see which pattern these ratios fullfill if any
u can do this manully or programatically
c this post https://www.mql5.com/en/forum
Ziko is correct in saying the Zig Zag finds the patterns. Almost every major trading system is based on the Zig Zag in on way or another. Elliott Wave and Andrews Pitchfork just to get started with.
The pitchfork uses an action/reaction line, (which is what) the top and bottom of a zig zag, or wave. Elliotte uses waves (which is what) the tops and bottoms of price on a chart, a zig zag, and lables them 1,2,3,4,5,with little waves in between a,b,c.
so how could you say he is wrong in using a method that has been used for years, but simply called something else?
Ziko is correct in saying the Zig Zag finds the patterns. Almost every major trading system is based on the Zig Zag in on way or another. Elliott Wave and Andrews Pitchfork just to get started with.
The pitchfork uses an action/reaction line, (which is what) the top and bottom of a zig zag, or wave. Elliotte uses waves (which is what) the tops and bottoms of price on a chart, a zig zag, and lables them 1,2,3,4,5,with little waves in between a,b,c.
so how could you say he is wrong in using a method that has been used for years, but simply called something else?yes, connecting low and highs by lines can be called different names, it can be called zigzag or swing or wave, the name doesn't matter
for all the people who criticize zigzag without knowing what it realy is read the following link
http://www.stockcharts.com/education/IndicatorAnalysis/indic_Zigzag.html
stop that discusion about the indicator ok ! i think u misunderstand me
sailor
A possible Gartley (greenish) and a possible Butterfly (Blueish) on Daily USDJPY.
This pattern is not perfectly harmonic... but the important point is to recognize a good PRZ and confirm the reversal. What do guyz say...
regards...