Harmonic Analysis - page 336

[Piotr]

Hi Ryu Shin,

I went through all Harmonic Trading thread and remember, you were using ZUP and Korharmonics:-) I'm still using ZUP's, but in my opinion most usefull confirmation is RSI BAMM.

It's not very complicated, read Scott Carney's book, vol. II.

Anyway, I see, you're using some kind of suport/resistance indicator, what is it exactly?

[Aki Miu]

Piot:
Hi Ryu Shin,

I went through all Harmonic Trading thread and remember, you were using ZUP and Korharmonics:-) I'm still using ZUP's, but in my opinion most usefull confirmation is RSI BAMM.

It's not very complicated, read Scott Carney's book, vol. II.

Anyway, I see, you're using some kind of suport/resistance indicator, what is it exactly?

Haha I'm kinda astonished to see someone that remembers me back then

As I said before, I do not use any indicator anymore. What you see on pictures I share is what I drew by myself. I look at charts and draw a line/lines and a rectangle box/boxes to pay attention to some prices.

[Aki Miu]

Piot:
Hi Ryu Shin,

I went through all Harmonic Trading thread and remember, you were using ZUP and Korharmonics:-) I'm still using ZUP's, but in my opinion most usefull confirmation is RSI BAMM.

It's not very complicated, read Scott Carney's book, vol. II.

Anyway, I see, you're using some kind of suport/resistance indicator, what is it exactly?

Take a look at the pic below. That's a good example of how I trade. I drew everything by myself.

CADJPY Daily chart:

A reciprocal ABCD completed at the previous structure level. Risk would be 100pips and Reward would be 400pips. Very very great trade. Did the price rally back up because of the reciprocal ABCD or because of the previous structure level? The answer is I don't know. But I do know that price turns the other direction at a good structure level.

AUDJPY Daily chart:

There was a bearish bat on Weekly chart. The bat worked out well and on the weekly chart, I'd think that price would bounce at the previous structure level (the level between A and C) and create a DT. But looking at the daily chart made me think there's less chance for it to happen because price had already reacted in the level. A is the level, price broke it, and price came back and bounced (look at B and C). Because of that, there would be less chance. In other words, the level would be weak. After the bat completed (D), price went down to the level but it did not bounce within the level. Instead of that, it bounced at another previous structure level (the pink box).

I hope it gives you some idea of my strategy

[Piotr]

RyuShin:
Take a look at the pic below. That's a good example of how I trade. I drew everything by myself.

CADJPY Daily chart:

A reciprocal ABCD completed at the previous structure level. Risk would be 100pips and Reward would be 400pips. Very very great trade. Did the price rally back up because of the reciprocal ABCD or because of the previous structure level? The answer is I don't know. But I do know that price turns the other direction at a good structure level.

AUDJPY Daily chart:

There was a bearish bat on Weekly chart. The bat worked out well and on the weekly chart, I'd think that price would bounce at the previous structure level (the level between A and C) and create a DT. But looking at the daily chart made me think there's less chance for it to happen because price had already reacted in the level. A is the level, price broke it, and price came back and bounced (look at B and C). Because of that, there would be less chance. In other words, the level would be weak. After the bat completed (D), price went down to the level but it did not bounce within the level. Instead of that, it bounced at another previous structure level (the pink box).

I hope it gives you some idea of my strategy

Ryu Shin,

Thanks for the explanation. Looks taff to me, cause I'm not so fluent in pattern theory. I understand your poin of view regarding suport/resistance levels, but the way you specify patterns is a riddle to me:-)

Are you checking existing pattern by hand?... Calculating each time right ratios, even for emerging patterns?...

Thanks.

[Aki Miu]

Piot:
Ryu Shin,

Thanks for the explanation. Looks taff to me, cause I'm not so fluent in pattern theory. I understand your poin of view regarding suport/resistance levels, but the way you specify patterns is a riddle to me:-)

Are you checking existing pattern by hand?... Calculating each time right ratios, even for emerging patterns?...

Thanks.

I draw fib levels and draw harmonic patterns by hand. Since I trade high time frame (4h, daily, weekly, monthly), I don't have to rush into drawing fibo and patterns. Trading short time frames is not a cup of tea.

[dan50]

We monitor this pattern being formed.

Happy New Year to all the participants in the forum

[Aki Miu]

EUDAUD - Potential bearish bat.

[Aki Miu]

RyuShin:
EUDAUD - Potential bearish bat.

Happy new year 2015 guys.

The bat on EURAUD worked out very well.

[Aki Miu]

GBPAUD - Potential bullish reciprocal ABCD and bullish cypher.

[JAMOS]

RyuShin:
GBPAUD - Potential bullish reciprocal ABCD and bullish cypher.

Also reciprocal AB=CD or 5-0 pattern on EUR/AUD.