Harmonic & Time
im posting this M5 pattern in GBPUSD. if this will not gap, i think the price will reverse at least 113 to 141 extension. and will approximately reverse after 7-11 candles, (35 to 55 mins) ...
On what level will i place my "SELL" limit, when it is 113%, 127 or 141, it depends how the price will move near after 7 bars...
im not sure if a weekend gap will mess it...
since this is 5minute timeframe, expect a TP of 25 pips (61% retracement) or more..and a stop of only 8 pips from the level. reversal should happen on the blue zone
if price reaches more than 161% extension before 7 bars or less than 113extension before 11 bars, i wont trade for now due to low probability.. and the triangle ratios are not "OK"... there are a lot of patterns for the day...
anyone watching the EURJPY chart? a possible pattern is forming if breaks pivot point.
on EurJpy, 5M chart. possible Sell on 62 , 76 or to 88 retracement. it depends what level will be in the time zone. when it reaches the time zone. approx 20 to 50 minutes.
if price reaches less that 62% retracement in 50 mins, or shoots 100% or more retracement in the time zone.. i will not trade because the pattern will be invalid and i will be looking at a different pattern .. if order is trigerred, stops should only be placed on a higher fibbonachi level.
if it breaks pivot point on time zone. a bat pattern i a bigger timeframe is possible.
yes, your right, this pair ranged, would not trade it for now.. what pattern is forming? GBP usb by the way..
on EurJpy, 5M chart. possible Sell on 62 , 76 or to 88 retracement. it depends what level will be in the time zone. when it reaches the time zone. approx 20 to 50 minutes.
if price reaches less that 62% retracement in 50 mins, or shoots 100% or more retracement in the time zone.. i will not trade because the pattern will be invalid and i will be looking at a different pattern .. if order is trigerred, stops should only be placed on a higher fibbonachi level.
if it breaks pivot point on time zone. a bat pattern i a bigger timeframe is possible.
what is more important, time or price???
what is more important, time or price???
the "time" is used to filter high probability pattern formations. but price is still more important. i still base my order on the nearest fibbo level. I wait price to land on that specific time zone. and if it touches a level, i will enter. if it didn't touch that zone, then the pattern that i'm anticipating will not happen. i only trade on high probability patterns with tight stops. 2 trades a day can make me 10% if both have 1:3 risk reward ratio.
ok, i got it, can i upload some patterns and can you check if it will work??
ok, but this is my criteria if you will upload a chart.. and pls upload at least 15 minute chart. because i need to calculate... png or jpeg is ok.. this is what you should look for
pls upload if the chart is still on the point on the red Dot... i will determine where will point "D" land in respect to time..
cheers..
your Time zone WORKED!!!
on EurJpy, 5M chart. possible Sell on 62 , 76 or to 88 retracement. it depends what level will be in the time zone. when it reaches the time zone. approx 20 to 50 minutes.
if price reaches less that 62% retracement in 50 mins, or shoots 100% or more retracement in the time zone.. i will not trade because the pattern will be invalid and i will be looking at a different pattern .. if order is trigerred, stops should only be placed on a higher fibbonachi level.
if it breaks pivot point on time zone. a bat pattern i a bigger timeframe is possible.
INCREDIBLE!!!! THIS really worked sir! my order was on 78.6 and stop was on 88.6! im now up to 16 pips. my stop is only 5 pips(88.6) currentl risk rewar of 1:3!!!!! i'll be following this!
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i have been doing my research in harmonic patterns, i found out, that every "M" and "W" patterns like bat, crab, etc are all successful, it only depends on what fibbonachi extension it will fall. at to crack that, you need to know the "time" element of the pattern forming.
i noticed that these triangles have unique ratios, not only with respect to price, but with time. i calculated the ratios between the areas of these triangles, and i noticed a range of values that define the structure. I used an architectural software called autocad to calculate these values. i have to import the MT4 chart to it. I now can determine the time should the price reverse approximately. i know that some harmonic patterns "extend" and you cant anticipate that. in 1 minute timeframe, i can often see extreme extensions upto 461%. because of that, i was determined to solve it..... since we all know that price bounce in the RATIoS.. whic is the "Y" axis,, we now only need to have a clue what time, or X axis will it approximately cross
at this moment, is still not yet 100%. but my approximations are close to that. with that, i know where to place my limit order. i know when a bat of butterfly pattern will potentially fail and become a crab, etc. i'm now perfecting my reasearch,. im now testing this and so far, i get really good results, i will be posting some trades in realtime. but scalp trades are hard to post because we have to react fast..