Harmonic Analysis - page 13

[Aki Miu]

USDJPY M30 and H1. Possible cypher.

[Aki Miu]

forexpro4.5:
Ryu Shin Hola my friend

Do you have an updated template

Rsx indicator is parametered on 7 or 14

Hola amigo,

No I don't have any updated template. To tell you the truth I stopped using harmonic indicators, "harmonic-tsd1.5t" is the last temp of mine. After posting the temp, I tweaked it a bit. What I did was added ###ZUP_v113wsv59 and set fibo deviation 1.5, enabled SHS pattern on Korharmonics, also changed the value of iextMaxZZpointsUsed from 9 to 12, and replaced RSI with RSX whose period is same as RSI which is 7. That's it amigo.

[Aki Miu]

GBPJPY M5. Possible cypher.

[FOREXPRO4.5]

Thank you so so much my friend, you are the best...

[Aki Miu]

USDJPY M5. Potential bats.

[irad]

RyuShin:
Welcome irad. Let's say when it reaches 38.2 and and stays and hang around between 38.2 and 50, that time I may set BE at 38.2 or close position for profit. You know what? BE should be between D and 38.2. 38.2 should be for first target. When you see it touches 38.2, it bounces back and go different direction or just bounces to D and bounces back again?

Hi,

Sorry for the massive delay for my answer

first of all I was talking only about cypher pattern, not the other pattern.

triple threat trading/tradeempowered(jason stapleton) teaches the cypher pattern in their workshop which I attended once, he mention that it's 80% profitable, but 80% profitable could be also 1 pip and could be 100 pips it just because they play it very conservative.

anyway the way they play this pattern to be so much profitable:

B retrace --> 38.2 to 61.8(must touch 38.2 but cannot close beyond 61.8 otherwise invalid pattern)

C ---> extention of XA 127.2 to 141.4(must touch 127.2 cannot close beyond 141.4 otherwise invalid)

appearance of the pattern --> Sell @ 78.6(D point must exceed B point)

stops goes 10 pips beyond X point

1st target 38.2(of entire CD leg) ---> Breakeven --->

2nd target 61.8(of entire CD leg)

when I tested it I saw that you see alot of time the price go further from 78.6 and once you look for the 38.2 retrace it's pretty much near that level, so you close 50% of the position and breakeven to 78.6 where you entered and price goes against you and stop you out.

maybe it goes against you because price wanna test the previous ressistance, but once you breakeven your trade, you usually don't want to donate your money back to the market. and that's when you see alot of time the price goes to the 61.8 and even higher(or lower)

anyway that's how they tested this pattern and I played it for a while aswell I reached 60%-75% profitable trades, but not everyone will feel comfortable having a trade open from 78.6 to 10 pips beyond X point - it's too much, so I just tried to have more confirmation for reversal or just a sign for a pull back(divergence, ressistance levels... you name it..)

I have a good example of a trade that I took of the audusd daily three month ago of a bearish cypher pattern price touched 78.6 rolled to 38.2 I close 50% of the position and B/E, went up stopped me out and stalled again @ 88.6 and went 1400 pips down

[princessfx]

RyuShin:
Hola amigo, No I don't have any updated template. To tell you the truth I stopped using harmonic indicators, "harmonic-tsd1.5t" is the last temp of mine. After posting the temp, I tweaked it a bit. What I did was added ###ZUP_v113wsv59 and set fibo deviation 1.5, enabled SHS pattern on Korharmonics, also changed the value of iextMaxZZpointsUsed from 9 to 12, and replaced RSI with RSX whose period is same as RSI which is 7. That's it amigo.

yes, its best to draw them manually because the picture will be clearer and you can analyze it beter. Its really nice to find a pattern using your naked eye

RSI 7 is also a great complement.

[harrymonic]

this is one of my analysis on USDJPY

or

[Nike Williams]

harrymonic:
this is one of my analysis on USDJPY

or

so we can buy around 97.400 and

sell at 98.400 or 99.000?

[harrymonic]

nike wiliams:
so we can buy around 97.400 and sell at 98.400 or 99.000?

No, those are just my approximation.