Harmonic Trading - page 529

[kam]

matfx:
Place those files in your indicators folders.

zup_v135 can search 27 patterns, zup_v135 ALL HL 113 can search 34 patterns including butterfly 113.

Example Butterfly 113 ret :

Both ZUP and Korharmonics are good. Choose which one you like.

Thanks Mat, Can you please also share some of the confirmation techniques for harmonic patterns, as most of the time price actions seems to invalidate the pattern , Right now I am only relying on technique described by scott carney as immediate price reversal within Potential reverse zone , but it does not seems to be enough , What sort of confirmation methods or indictaors you and seniors such as Poruchik use ?

[Aki Miu]

poruchik:

nen say about ZUP137 I use ZUP Snorm csv reader

I'm so interested to see how new ZUP is going to be. Hope it's gonna be a lot different.

[poruchik]

It is old

see dashboard Harmonic and Classic Patterns - Page 52 @ Forex Factory

[kam]

kamranasif2004:
Thanks Mat, Can you please also share some of the confirmation techniques for harmonic patterns, as most of the time price actions seems to invalidate the pattern , Right now I am only relying on technique described by scott carney as immediate price reversal within Potential reverse zone , but it does not seems to be enough , What sort of confirmation methods or indictaors you and seniors such as Poruchik use ?

Any sugessions Mat or Poruchik ?

[matfx]

kamranasif2004:
Any sugessions Mat or Poruchik ?

Secondary filter indicator is RSI. But it doesn't work all the time. The most important is price action around the PRZ zone, support resistance around it. Somehow I did use SHI Channel which gave some success trade.

Here is some example chart which i extracted from my blog:

Most of the time i am focus on price action :

Many traders use various tools/technics to validate Harmonics Pattern entry zone, for example Andrew Pitchfork, time cycle analysis and even fibonacci time. It depends on which one suit you most.

[bmurat]

Hi Guys,

which is the last ZUP Version ? can you sharing it ?

[kam]

matfx:
Secondary filter indicator is RSI. But it doesn't work all the time. The most important is price action around the PRZ zone, support resistance around it. Somehow I did use SHI Channel which gave some success trade.

Here is some example chart which i extracted from my blog:

Most of the time i am focus on price action :

Many traders use various tools/technics to validate Harmonics Pattern entry zone, for example Andrew Pitchfork, time cycle analysis and even fibonacci time. It depends on which one suit you most.

Thanks Mat, I appreciate you taking time to reply and help, I also use price action as my primary tool of confirmation but I have had occasions where price did bounce nicely out of PRZ and then retraced back down resulting in failed pattern (see attached picture), Let say if we are looking at 5 minutes chart, how many candles would you wait for to confirm the pattern and place short scalping trade ? Am I jumping into trade to soon or maybe using 5 minutes chart is not advisable for recognition of harmonic pattern ?

[Walter Abrahams]

HarmonicsTrader version 3.1 is just released

It uses ###ZUP_v113wsv63

[matfx]

kamranasif2004:
Thanks Mat, I appreciate you taking time to reply and help, I also use price action as my primary tool of confirmation but I have had occasions where price did bounce nicely out of PRZ and then retraced back down resulting in failed pattern (see attached picture), Let say if we are looking at 5 minutes chart, how many candles would you wait for to confirm the pattern and place short scalping trade ? Am I jumping into trade to soon or maybe using 5 minutes chart is not advisable for recognition of harmonic pattern ?

I don't trade on 5min chart because it is too noisy.

[kam]

matfx:
I don't trade on 5min chart because it is too noisy.

Thanks Mat, I can see in the pictures you posted previously that you used 30 minutes chart. Do you mind sharing in your experience, What time frame is most suitable to harmonic trading. Scott carney has emphasized a lot on price reaction on completion of harmonic pattern, How many candles in favourable direction should we wait to confirm the reversal, Or should we refer to shorter timeframes for price reversal for immediate identification, as waiting too long can end up as lost opportunity ?