Harmonic Trading - page 481

gbdcad 4hr bearish elliot 5 wave. Does anyone here trade this pattern? If so is it reliable?

also eurusd daily bearish elliot 5 wave

Hi,

RyuShin, are you here?

Can you teach me some harmonic patterns?

I want to learn when is enter, when is exit?

Which timeframe to look?

Is there any change to indicator setups to change time frame?

darrenmkn:
also eurusd daily bearish elliot 5 wave

i don't really trade the Elliot wave it self ,but i trade the next step of it , if it is a valid one then it will be followed by an ABCD movement , and the a good trade would be to short it at point B as the it's a good sign for the trend shifting to the other direction , refer to Google to understand more about the ABCD flollowed by Elliot waves . but if the this signal suits your rules and money management then why not !

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If you wanna learn harmonic patterns, take a look at the harmonic patterns pic below. You should know the ratios of each pattern. If you don't wanna remember, have the pic handy. I don't want to tell you when to enter and exit. Because you're the who deal with your trades. I'm not responsible for your trades. However, I can tell you what I do to enter or exit, which I have told a few times in the thread. Anyways, let's say there's a bearish gartley pattern on M30. When there's a pattern, I look around if there's previous support and/or resistance, CCI and/or RSI divergence and I draw fibonacci between AB to see what current fibonacci ratio of BD is. Since it's a gartley pattern, BD should be 127.2 or 161.8. If the price it touching 161.8, open a position. Then I draw fibonacci between XA and set a first target on 38.2, second target on 61.8 and third target on 78.6. If the price hits the first target, you get out. Or wait and see if it's gonna reach the second target (The pattern on the pictures below is a overlaid pattern of bearish A butterfly and TOTAL). I look at all time frames. Let's say there's a bullish pattern on M15, you enter long, the price goes up, then you see a bearish pattern on M5 and close your position. Or enter short for scalping. You should have your own rules to trade. If you don't have any rule, you ought to establish one. Tweaking maxdepth is a setup to change time frame.

A bullish pattern on M15. A bearish pattern on M5. This may be good time to close long and/or enter short.

Thank you RyuShin,

I'm work this patterns and fibo levels

Something interesting. Forecasting indicator + harmonic pattern. Let me see how these are gonna go.

hi man i used a indicator similar to this and it's not that good. by the way could you post an updated template if it is not to much to ask? thank you and many pips to you sir