Harmonic Analysis - page 152
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CADJPY 4h - Potential bullish bat.
USDCHF daily - Potential bullish butterfly.
USDCAD daily - Potential bearish gartley.
Just wanted to share this great trade I took. My plan was to take the bearish cypher and get out at B of the cypher and open a long position at B. The reason why I entered long was because B could be support. My plan worked out very nicely.
Hi Ryushin,
Have you reentered it again short?
I would like to ask your advice again, concerning D/W/M fibsup-res levels as complementing HPs.
Recently I have entered a couple of trades and lost those. When I looke at those, I see that I have not paid attention to wait for the fib resistance level near-by the PRZ.
To correct this problem of mine seems simple, however I would like to learn from your experinece.
- Which fibo S/R you pay attention to, and is it depending on the HP TF, i.e. for an H1 HP would be most important the daily fib supres? for an H4 one the Daily and weekly? How is it in your system considered?
- Many times I do see e.g. daily Fib supres closely lining up with one of the weekly wnd or monthly fib supres levels.. do you consider it a stronger case?
- In your tpl you do also utilize the supres3 and the THV mtf indis... what is the role of that in your system, what consideration do you give to those?
Just a side question - do you know if these fib supres indis refresh in backtesting? Seems like not, but maybe you do know a workaround?
Thank you for your advice!
Hi Ryushin,
Have you reentered it again short?
I would like to ask your advice again, concerning D/W/M fibsup-res levels as complementing HPs.
Recently I have entered a couple of trades and lost those. When I looke at those, I see that I have not paid attention to wait for the fib resistance level near-by the PRZ.
To correct this problem of mine seems simple, however I would like to learn from your experinece.
- Which fibo S/R you pay attention to, and is it depending on the HP TF, i.e. for an H1 HP would be most important the daily fib supres? for an H4 one the Daily and weekly? How is it in your system considered?
- Many times I do see e.g. daily Fib supres closely lining up with one of the weekly wnd or monthly fib supres levels.. do you consider it a stronger case?
- In your tpl you do also utilize the supres3 and the THV mtf indis... what is the role of that in your system, what consideration do you give to those?
Just a side question - do you know if these fib supres indis refresh in backtesting? Seems like not, but maybe you do know a workaround?
Thank you for your advice!No I haven't.
Could you share those losing trades? We could study why those didn't work out.
- I pay attention to all pivots/s/r of D/W/M regardless of time frames because when I find a pattern and support/resistance, it's there. I tend not to trade if there's no s/r.
- Yes. I do consider it as a stronger case. Although, we know that it doesn't work 100%.
- I don't use supres3 anymore because it became bothering. I used it to facilitate drawing patterns and also identifying s/r. Also I don't use THV mtf indicator. I used THV pivot levels indicator which later I realized that it's just a fibonacci based daily pivot level indicator so I just replaced it with the D/W/M pivot indicators I use now.
- I do not know if those indis refresh in backtesting. Why would you backtest them?
Examples of harmonic patterns + D/W/M pivots, s/r.
- A bearish crab on AUDUSD. Price touched DR2 and WR2 alignment and went south.
- A bearish cypher on GBPUSD. Price touched WR1 (first weekly resistance) and bounced.
- A bearish bat on EURGBP. Price reached WR1 but the pattern didn't workout. Now it reached WR3 and completed a bearish butterfly. We'll see if it's gonna work out.
- A bullish white swan on CHFJPY. WR1 became support. Also Demark9 popped up.
- A bearish cypher on CHFJPY. My entry was WR2 but it didn't work out. Later it became a shark. 161.8 fibo extension of AB of the shark sits on DR1. Price almost touched DR1 and it went south.
Hope you get some idea
EURUSD weekly - Potential bearish cypher.
NZDUSD 4h - Potential bullish N200.
EURJPY 1h - Potential bullish gartley+ABCD. D of those patterns could be C of a bearish cypher. D of the ABCD nicely sits on weekly support level.
EURJPY 1h - Potential bullish gartley+ABCD. D of those patterns could be C of a bearish cypher. D of the ABCD nicely sits on weekly support level.
Bearish gartley and ABCD added.
CADJPY 4h - Potential bullish bat.
When it completed, price went up (about 50pips) and then went down. Currently the pattern is still yet barely alive. Price may go up or not.