Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Hello,

 

I am looking for others that may trade harmonic patterns or fibonacci for the forex market. I would like to work and collaborate in the use of these tools for the benefit of those that contribute.

 

Please let me know your thoughts.

 

Cheers,

Carl

Share this post


Link to post
Share on other sites
Thanks OAC,

 

Yes all pretty common price action strategies.

 

They may be very common price action strategies for you and me, but very foreign to 99% of the members here, sad to say.

Share this post


Link to post
Share on other sites

OAC,

 

Yes very true. I am trying to find a few or a small group of traders that want to work together and trade. I mean those that have the understanding that is needed and along the way the newer traders learn from it. It makes the time much more beneficial and enjoyable if you can find that.

 

Cheers

Share this post


Link to post
Share on other sites

For those interested, here is a word doc, fib price patterns, that shows several of the harmonic patterns and the fib values with a description. The doc harmonic patterns values is the same but without words so pics are easy to few and in the order of growing fib values for each successive pattern. The 5-0 doc is written by Scott Carney http://www.harmonictrader.com. It explains another setup.

 

Hope this helps a little. More later.

 

Carl

Fib Price Patterns.doc

Harmonic Patterns values.doc

The5-0Pattern.pdf

Share this post


Link to post
Share on other sites

Setup to watch, USDCHF daily inside bar in a harmonic pattern. I haven't done any projections yet but will be watching the lower TF's for entry confirmation.

 

EURCAD is in a harmonic pattern, watch the lower TF's.

5aa70e854f2d6_9.10daily.thumb.gif.69b697ee1caa6e4cf25f9259323d3a7a.gif

5aa70e855894b_9.10eurcaddaily.thumb.gif.0a065a6fecad0ccd97d81302a4c19851.gif

Edited by traden4x

Share this post


Link to post
Share on other sites

This pic is a potential 5-0 pattern. The fib levels don't match completely with what is in the pdf but one of my goals is to log and evaluate fib levels for each currency pair and validate the actual fib levels and and hopefully timing as well for these patterns. Lets see if this long signal works out.

 

Trade update, 11 mins later +28 on the trade. Out @ 50% level.

5aa70e855e6f2_eyposs5.0pattern.thumb.gif.575d20efe4ea7946fffe25d67221ac7f.gif

5aa70e8566560_ey5.0patterntrade9_10.thumb.gif.5f4b70be847e3da85ed164dc8f40741a.gif

Edited by traden4x
Update

Share this post


Link to post
Share on other sites

Setup for a 1min trade. looking to grab the D leg of a potential gartley, bat, crab or butterfly pattern. I will look to close this in < 60 mins due to timing completion.

 

Out of the trade 22 mins in. +11

5aa70e856e143_ey1mingartdleg9_10.thumb.gif.eab70cb2cf1f94a481ffd50e44071655.gif

Edited by traden4x
Close trade

Share this post


Link to post
Share on other sites

Ready for another week?

 

Many great harmonic patterns last week but didn't have much time to post them. I will try to show some as examples later.

 

A call I did make on Thurs was EURUSD to go long. This is the basic setup.

 

I added the monthly on EU and as you can see, much support @ the 50% retracement, ABCD 100 level from the prior corrective swing and the high from the previous impulsive move.

5aa70e877e61c_euweeklychannel9_12.thumb.gif.7be57e849bea4d14e77b74ddbc8e25c8.gif

5aa70e8786ee8_eudaily.thumb.gif.d165fc34606b23c0d99b64119c0be890.gif

5aa70e87959b6_eumonthlyres9_2008.thumb.gif.713298f94c7c1cde0c66ca4598b522f3.gif

Edited by traden4x

Share this post


Link to post
Share on other sites

GU had a fabulous move short. In the weekly we have the bearish gartley and I also showed it in the daily. These patterns are very nice to find and trade when they are found in the corrective wave before the C wave or other impulse wave begins.

 

From the weekly and daily you can review the fib levels that were met.

 

Hopefully you find this interesting and would like to add your comments or observations.

 

Carl

5aa70e879cac9_guweekly9_14.thumb.gif.e0f7052da43bdeb284fee899001322d9.gif

5aa70e87a6401_gudaily9_14.thumb.gif.73d1d9a0267bcf8e31989ee7635bd338.gif

Share this post


Link to post
Share on other sites

In this pic is a closer look at the reversal point from the 30min butterfly pattern. From this pattern and taking the CD leg, price extended to the 223.6 level.

 

I have been testing where patterns succeed and fail and often I find this off of the CD leg fib values.

 

The next pic will show the 15min and where a bearish harmonic pattern fails in the long position trade. This is at a fib level off of the CD leg. At that time of failure, I begin looking for 3 Drive patterns for price to extend to.

 

Carl

5aa70e87c0826_gu30min9.13reversal.thumb.gif.9bf39a6fa72d1e43e2b82cbe45f60238.gif

Share this post


Link to post
Share on other sites

The 15min chart shows a red ABC with the fib expansion (fe) applied to it. Here is a case where price retraces to 78.6 of red AB to C. We can look to trade short here with initial targets being the leg C of any of the harmonic patterns.

 

Upon breaking the low of red B, I look for the fib extensions and expansion levels. You can see that after the red C in the yellow XA leg was a nice 12345 or 3 Drive pattern. Within this pattern blue d is at the 161.8 extension of the red AB leg and never closed below the fe-redABC 138.2. Final completion of 5th leg of yellow XA came at red fe-ABC 161.8.

 

The yellow A is also where the 30 min bullish butterfly pattern is now in effect.

 

Next post will comment on the turn and the following long.

5aa70e87cc27f_gu15min9.13reversal.thumb.gif.c7b6e45ec3b439146553ebe6295b0f16.gif

Share this post


Link to post
Share on other sites

I don't know how many people would agree with me here, your charts are hard to read, you need to get rid of some of the cluttered lines. May be you should use something other than Pevasento Patterns from Ensign ?

Share this post


Link to post
Share on other sites

Here are the fibs after the 30 min signaled a reversal butterfly. I will often look to the lower TF's of the 5 or 1min and look for the TL break and enter in. Going against a major trend ai will look for smaller targets.

 

Price first reversed to the 61.8 of yellow XA. 2nd move was point yellow C where the 88.6 of yellow AB was hit. Now as you know harmonic patterns and that we are in a lrger bullish butterfly, we now have a lower TF harmonic setting up for leg D of a bearhish pattern. We look to trade the higher TF pattern with the lower TF patterns price targets.

 

In the 1st pic you see price went to 123.6 of yellow XA, 200.0 of yellow AB, 211.4 of yellow BC. This for D completion and a bearish harmonic signaling.

 

In the 2nd pic you see price retracing to 38.2 of yellow CD. This is where the bears fail and price moves long. I now bagin to look for larger targets both from the 30min pattern legs and from this TF where 3 Drives or extension patterns come into play. Still even the reversal signal was a winner if you played the fibs correctly.

 

In the 3rd pic we have a fe_CDE to 114.6. This level is past the fe-CDE 100.0 aka, ABCD and yellow CD 161.8 extension confluence. The final price level was from the 30min TF CD leg with 223.6 extension. Remember to watch the higher TF's for targets as that is where the larger signal is from.

 

Carl

5aa70e87d4a6a_gu15min9.13bearbutterfly.thumb.gif.6eae0396106a5e7fe51b1afbbbe7e9cd.gif

5aa70e87e0ff0_gu15min9.13bearbutterflyfailure.thumb.gif.3e86df9569210557a762e37df34cebb9.gif

5aa70e87e667d_gu15min9.13completion.thumb.gif.f87a9bc7e05f16faf4fe59f257129f1b.gif

Share this post


Link to post
Share on other sites
I don't know how many people would agree with me here, your charts are hard to read, you need to get rid of some of the cluttered lines. May be you should use something other than Pevasento Patterns from Ensign ?

 

Sorry if they are a little hard at times. Limitations with the platform to delete only single lines.

 

I hope the message that it is conveying is worth more than the strain on the eyes. :)

 

This isn't from ensign.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

  • Topics

  • Posts

    • Originally Answered: How can I compete with people who are better than me in every way?   So you want to outcompete people who are smarter, better looking and more experienced than you?   No problem!   All you have to do is outwork them.   Will Smith said, "if we both get on a treadmill either you're going to get off first or I'm going to die trying."     Most people just aren't willing to work that hard. Sure, they'll show up for the job interview and maybe practice in front of the mirror for a few minutes, but they won't do hours and hours of research and prepare for weeks. They won't wake up early and stay up late working on their dreams.   So while all those smart, good-looking, experienced people are waiting around for the next opportunity to come their way, you can outwork them and create your own opportunities.   In a few years, you'll be that "smart" person everyone looks up to. But you'll be different. You'll know it was your hard work, your inner strength and your commitment to living a great life that made you successful and brilliant - not luck or good genes.” – Tom Corson-Knowles, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • @sxiqxx, Well done on making your first post a promising strategy. @everyone, post up if you want this coded into an EA. Although I switched to TradeStation, I still have an active MT5 demo with MetaEditor. I can code it without referencing object oriented programming which should be retroactively compatible with MT4. Let me know...
    • Please allow me to retort (in jest): RESPONSE 1 : Get a job supervising others where you're in control of performance reports and ride those others 100%. This makes your performance 100% with little to no effort.   RESPONSE 2: Feel free to piss off your boss but stay nonviolent. When the side effects of his viagra and testosterone boosters cause him to physically assault you, you have the legal upper hand. This can result in a boatload of trading capital.   RESPONSE 3: Feel free to have intimate relations with your boss if she finds you attractive. Rest assured that mum's the word because once again, you have the legal upper hand. This can also result in a boatload of trading capital.   RESPONSE 4: Don't be fake friends with any enemies... unless you need information from them. Being fake friends with everyone will cause you to become an empty shell of a person with no direction in life.   REPONSE 5: Get your boss to become reliant on your performance (really, just the performance of your subordinates), and then plan an "overheard" conversation wherein you fake an interview with another potential employer. You'll probably get a pay increase or a promotion.   RESPONSE 6: If you can give your 75% percent to a project, give 50% and rely on your legal upper hand(s). Learn to write trading algo's during your other 50%.   RESPONSE 7: Take all of the office boys out to nightclub where you merely sip soft drinks on a weeknight. Upon your return to the office in the morning, inform the security guards that all of the office boys are intoxicated. Your boss will love you for it.   RESPONSE 8: Never try to prove your client wrong or find faults in their processes, but do secretly collect their information in case you jump ship or "someone you know" decides to start his own company.   RESPONSE 9: Never stay in a firm for too long. Instead, use your ill-gotten capital to exit the rat-race and start trading.   RESPONSE 10: Trading pays more than your career. Interpersonal skills are now irrelevant. Use your technical skills for trading. Never stop learning and keep updating your technical skills.😁
    • There are a lot of trading strategies like elliot waves, wyckoff etc so we need to apply those who best suited to our need and are understandable too.
    • Scalping can be good during the high volatile markets however the new traders should be careful while entering and exiting the markets too quickly since they can make losses as well. If the broker support news trading we can make most out of the scalping in my opinion.  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.