Hello. A few days ago I got an idea to learn something about harmonic patterns.So I entered "harmonic trading" in google and clicked any link.On this site I found an explanation about patterns and heres my misunderstanding.
On the attached pictures you can see a gartley pattern.
And comments from site:
"CD: The last price move is opposite to BC and it should be 127.2% (extension) of BC move if BC is 38.2% of AB. If BC is 88.6% of AB, then CD should be 161.8% (extension) of BC.
AD: The overall price move between A and D should be 78.6% of XA"
BUT if we have BC:AB=38.2% -> CD:BC=127.2% or BC:AB=88.6% -> CD:BC=161.8% then we will never be able to get AD:XA as 78.6%
I tried to build a pattern in trading view and heres the results.
It seems like if we have BC:AB=38.2% then we looking for CD:BC=161.8%, and if BC:AB=88.6% -> CD:BC=127.8%Can anyone help with that question? What am I missing?
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2009.10.21 07:08
Sergey Golubev, 2012.09.24 14:33
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