Harmonic Trading - page 166

[ziko123]

bullish future pattern on AUDUSD daily, trading the CD leg down

entry/stop/targets on chart

[c4n]

Could there be leg BC forming of a Bearish bat in USDCHF 4h?

[c4n]

Hmm, maybe not, XA > AB is 0.58 not 0.50...

[[Deleted]]

kamyar, what do you think of this critique of some of carney's harmonic ratios?

Q. So far whatever I have read about harmonic pattern (e.g pasavento, carney etc), the common XAD ratios are 786/886/1.27/1.68, depending on the pattern. I have never came across 854 ratio for XAD. Could you please tell me source of your info, from where you have arrived at this figure.

A. Very Good Question in fact.

The harmonic pattern is based on FIbonacci retracement, and Fibonacci retracement is fundamentally based on a single number,which is Golden Ratio 1.618 or 0.618. <---

(1/1.618 = 0.618 .just from different side of perspective)

This single magic mysterious number does all the trick and covers the entire Fibonacci numbers or Levels.

0.618x0.618 =0.382

0.382x0.618 =0.236

0.236x0.618= 0.146

So, here is the full sequence of Fib numbers(levels) from 0.1 to 1.0

0.146 1- 0.854

0.236 1- 0.764

0.382 1- 0.618

0.5 mid point

0.618 1- 0.382

0.764 1- 0.236

0.854 1- 0.146

(1.236 = 1+ 0.236 = 0.382+ 0.854 = 0.618x 2 = 2- 0.764)

(1.618 = 1+ 0.618 = 0.764+ 0.854 = 1/ 0.618 = 2- 0.382)

0.5 is not a fib number to be precise, but it is as important as fib.

At the same time, there is a Gap betwen 0.382 and 0.618, PLUS

(0.382 + 0.618)/2

(0.236 + 0.764)/2

(0.146 + 0.954)/2

= 1 /2

= 0.5

which means that the middle point of

0.382 and 0.618

0.236 and 0.764

0.146 and 0.854

is 0.5, and obviously it is also the middle point of 0 and 1.

These numbers cover fair range between 0 to 1.0.

It's as simple as that, just +or -. besed on 0,618=Golden Ratio

in some Harmonic Trading book, they mention 0.786 or 0.886 using Root calculation etc.

I think these are rather Artificial manipulation of Golden Ratio, and I have no idea why they insist such numbers instead of employing the simple Fibonacci sequense.

You see 0.786 is close to 0.764 and 0.886 is close to 0.854.

This difference doesn't mean much, so why don't you use simpler ones?

The real simplicity from the Goldenratio apperas on the seqence list I shown first.

So, I totally ignored these artificial numbers according to their book or site, and instead, employ simple Fib numbers.

[ziko123]

just to break the non hindsight trades I've been posting for the last 6 weeks,

here is a hind sight trade on GBPUSD H4 that triggered yesterday and reached its 1st profit target

[Chea Yan Wong]

same view ziko.nice.

[dirk]

still short on USDCAD , continuation triangle facing south

[sailor]

hey claim 61

fibonacci is a great tool some fib numbers have a close relation example retraces all the way down to 0,86 level next fib to watch is 1.18 and 1.27 but however to keep things simpel its to find abcd`s and find a potential convergence setup a tip is to find a currency converter and find a base curency then its posible to more precice to se what gbp is really doing against other currencys example is usdeur rate is right now 0,7832. Again if we have found a range i dont care if trading gartlys in any direction but a good example is gbpchf if traded every bullish gartley and limited out on 1.618 fib extension it would have been 1 of the years best strategys happy trading

sailor

[[Deleted]]

hi sailor, you ever hear of a comma or a period? jk

my question for kymar was basically what he thinks about the statements that .886 and others are "artificially manipuluated" fibonnaci numbers.

[sailor]

in this way i think ur right

sailor