Harmonic Trading - page 111

[shortwhat]

Daily chart of the Aussie

Think a short looks like a nice trade in the making.

[erwin1680]

profit target of Harmonic patterns

Hi all once again thanks for the wealth of information on this thread. If I may were can I find how to set profit targets for the harmonic patterns?

Thanks in advance.

[Arta2015]

hi mates

updated charts of 1 aug.as u can see we have a nice price action in the PRZs and good reaction.look likes these patterns want to make us pips.......

[Arta2015]

hi

updated charts of 1 aug.as u can see we have a nice price action in the PRZs and good reaction so far.look likes these patterns want to make us pips.......

[Arta2015]

erwin1680:
Hi all once again thanks for the wealth of information on this thread. If I may were can I find how to set profit targets for the harmonic patterns? Thanks in advance.

hi erwin

you are welcome.

about tragets,according to the rules there are two classic and defiend targets for these aptterns:

1st target would be:0.382 of AD

2nd target would be:0.618 of AD

but never forget the golden rule of trading:

"cut your losses short and let your profits run"

so up to the trader,one may make pips on the defined targets ,one may trail the profit.

[[Deleted]]

@kamyar

yes the gartley seems to be great. i am also long in usd-chf at 2309. so far a nice trade. as is see in your charts you draw often a yellow line called "WR1". What is this?

Thanks and good trading

Regards

[Arta2015]

matrixtrader:
@kamyar

yes the gartley seems to be great. i am also long in usd-chf at 2309. so far a nice trade. as is see in your charts you draw often a yellow line called "WR1". What is this?

Thanks and good trading

Regards

hi

yes i agree.the WR1 is Weekly pivot resistance 1

cheers

[[Deleted]]

kamyar:
hi

yes i agree.the WR1 is Weekly pivot resistance 1

cheers

do you have an idicator or do you calculate the pivot by hand?

thanks

[Arta2015]

matrixtrader:
do you have an idicator or do you calculate the pivot by hand? thanks

hi

here is the indicator.also camrilla lines are included in the indicator.

kamyar

[[Deleted]]

kamyar thanks for the indi. i don't know why but it seems as i have an other result with the indicator than you. i attached the indicator on my chart. i disabled camrillas and midpivots. and as you can see in my chart i have the wr1 at 2834 but you have the wr1 in the prz. am i doing something wrong?

thanks