Harmonic Analysis - page 16
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Yes,wave59 reads csv files that you can export from mt4 in real time
Pretty cool. Though, do you mean export from WAVE59 to MT4 or from MT4 to WAVE59?
AUDUSD M5. Two potential cyphers and one butterfly.
This is why I like harmonics. They can give you ideas what the market will do down the road. Needless to say it's no holy grail but it works regardless of news (not all the time of course). Look at GBPUSD M5, a butterfly pattern was formed hours ago before the US data was released and then BOOM. I bet harmonic indicators would detect that too but if you know how to draw patterns, you could get ready for what to do and feel more relaxed I think. Now there's a potential gartley.
Pretty cool. Though, do you mean export from WAVE59 to MT4 or from MT4 to WAVE59?
you can export csv file FROM mt4 TO wave59 with an indicator called CURRENCYLOADER V2.3....you will find it on google....otherwise ask to me.
EURUSD ...I have no crystal ball...but I think that this 2 day cycle may be last about 52-54 bars chart 1h...it seems to be 17+17+17 bars and not 22+22 bars
orange is normal 2 day cycle about average of 42/45 bars
green is long 2 day cycle about average 52-54 barsand lime green is little cycle of 17 bars
as you can see lime green from yesterday did 2 little cycles...so still one...17+17+17...I think.
this is 30m chart on wich I controll 2 day cycle...orange and green
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
I think SL is 10pips above X is not that bad as long as 38.2 and 61.8 are targets. But risk and reward wise, it may not be good. Because if you lose 3 times and win one, it'll minus (in case you close at 38.2). Risk and reward should be like one win covers three losses. Anyways I'll see how much potential cypher has. I've had some cypher patterns so far today and ones that completed were all successful.
you can export csv file FROM mt4 TO wave59 with an indicator called CURRENCYLOADER V2.3....you will find it on google....otherwise ask to me. EURUSD ...I have no crystal ball...but I think that this 2 day cycle may be last about 52-54 bars chart 1h...it seems to be 17+17+17 bars and not 22+22 bars orange is normal 2 day cycle about average of 42/45 bars green is long 2 day cycle about average 52-54 barsand lime green is little cycle of 17 bars as you can see lime green from yesterday did 2 little cycles...so still one...17+17+17...I think. this is 30m chart on wich I controll 2 day cycle...orange and green
You're a master of your strategy I bet! EURUSD is totally under pressure. Although, in lower timeframes you can still see harmonics. There's a three drive pattern which worked so nicely. Some traders prefer higher timeframes because they think it's less risky but lower timeframes are not as risky as they think. There are actually a lot of opportunities in lower timeframes. I meant the pentagon and the circle-square indicators. Those are from WAVE59, correct? So I was wondering if those indicators are exportable to MT4. I assume it's impossible.
I am not able to scale chart in mt4 and I don't know how create those indicators in mt4.....
anyway.....I use 1 minute chart for timing...me too!
Sometimes I use 5 minute chart looking for divergences and 1 m for entry....harmonic patterns are not foundamental tool in my trading!
I am not able to scale chart in mt4 and I don't know how create those indicators in mt4..... anyway.....I use 1 minute chart for timing...me too! Sometimes I use 5 minute chart looking for divergences and 1 m for entry....harmonic patterns are not foundamental tool in my trading!
I know you don't use harmonic patterns but still your strategy is based on harmonics which is pretty cool! I know you prefer higher timeframes but I can't help but ask you, have you ever considered scalping? I know you have your own rules but I'm wondering why not to trade lower timeframes as well. You say you look at M5 for divergence and M1 for entry, so I assume you can use them for exit too. It might bring you more profits. What do you think?
EURUSD M5. Potential cypher.
hi Carbonmimetic, would you mind posting the indi? I did google but don't want to risk downloading a disguised spam. thanks.