Harmonic Trading and my ABCDE pattern

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iwantu2brich

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For better clarification, contemplate this:



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Isn't powerful to know? That is nothing to fear when this occur, we still have better chance to hold positions or take positions in point E, and better chance to make more money! There is no chance to Gartley (only when point D was in 61,8 retrace from X) and to Bat Pattern, only to Butterfly Pattern, but it is in our gold future, when in this model market make HH!
 

iwantu2brich

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In your example or in that what you give, there is 161,8-224 from 3 to 5 point. Maybe in Scott Carney methodology it works, but in mine research and from trading it doesn't. I give some example:



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And there is hundred and more examples that this ABCDE pattern can works. This was a good example, because I take positions from it. I show your reason behind this:

1.Triple bottom
2.Xabcd (Butterfly) 127,2AB=CD

So there was clear direction.



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kissaki

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Iwan2brich, thank's for sharing, i will try to see more. How much do you expect the deep of "e" point from CD ?

Actually, The most concern of my research is not on the pattern. I am trying to find the best "Entry" Strategy. I don't like "Order Limit", I want to find out the best way to play with PRZ. Will you share your experience on entry strategy ?
 

iwantu2brich

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Yes! I use Carolyn Boroden technique, and fibonacci cluster (Kane Jim) I give you an example of cluster and source. It looks like this:

http://www.kanetrading.com/books/excerpts/aftc_ex6.gif

And my example:



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Difference between me and this traders is that I don't use diagonal lines. And my methodology vs Carney's is that I use clusters like Kane Jim, and my formation.
 

iwantu2brich

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The best way in my opinion is cluster, because in this technique you have very tight PRZ. I love clusters, very powerful! This clusters is also very controversial, because there is not so many traders who will do research in this subject. So... We can talk about clusters and secret techniques and very few traders understand!
 

forexkunta

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kissaki

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Iwan, I can't not find the SeaHorse or Impulse Harmonic in internet. it is in Suri Dudella's book (for SeaHorse) and Scott's book vol 2 for (Impulse Harmonic).

I understand about the cluster, fist I learn it from Robert Miner's Book - Dynamic Trader. but what is next ? Some says ;
1. Candle formation - I am not really good on it. it seem easy, but not in forex.
2. the Oscillator (eg. Stochastic) - I only use it for finding the divergent, OB/OS when the pris is at cluster. but never use it for trigger entry.
3. Andrew Pirfork (APF). I use it sometimes, but, so many different strategies developed for APF. I only use it for possible turning point.

Right i am using 23.6 and 38.2 Fibo Expansion (FE) for entry and Fib Fan for entry. but i still feel that my trigger is too weak... any advice ?
 

iwantu2brich

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kissaki first, we must have respect for each other, so please use full nick names. I am not from Russia, so I am not Iwan!
 

kissaki

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I apologize for my mistake, Iwantu2brich.. shall we continue, please.. :)
 

iwantu2brich

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Iwan, I can't not find the SeaHorse or Impulse Harmonic in internet. it is in Suri Dudella's book (for SeaHorse) and Scott's book vol 2 for (Impulse Harmonic).

I understand about the cluster, fist I learn it from Robert Miner's Book - Dynamic Trader. but what is next ? Some says ;
1. Candle formation - I am not really good on it. it seem easy, but not in forex.
2. the Oscillator (eg. Stochastic) - I only use it for finding the divergent, OB/OS when the pris is at cluster. but never use it for trigger entry.
3. Andrew Pirfork (APF). I use it sometimes, but, so many different strategies developed for APF. I only use it for possible turning point.

Right i am using 23.6 and 38.2 Fibo Expansion (FE) for entry and Fib Fan for entry. but i still feel that my trigger is too weak... any advice ?
Your understand cluster, it is good for you. I use extended clusters from Carolyn Boroden and Kane Jim, he have for example 56,4 ratio and 88,6 and others (percent). But when you fell god with your clusters, and its working for you, thats fine, take tools what comfortable fit in your hands!

1.Candle formation, only useful source for me (he is the source, first bring candles from Japan) is Steve Nison, only!

2. The oscillator is not so useful to take positions I rarely use and only divergence.

3. Andrew Pitchfork. I done my research in this subject and method (finding frequency) have read some books, but this not working for me. I know it works very fine for some people, good source is www.marketgeometry.com, another useful information only form full of noise internet!

And fibo fan the same, not working for me, but simply know that works for some people!
So for entry point, the good information have Nison -great reversal patterns in context. Carolyn Boroden -great information about triggers and setups!
 

iwantu2brich

Member
73 0
iwantu2brich, do you think GBPJPY H1 has potential for your ABCDE pattern ? if it's so, can draw it please. Thank you.
I does not think in this category, one formation is only the beginning, you have to have context on higher TF. When you ask this question did you consider trend or you expect that i guess by myself, what kinda of formation (bullish, bearish)? Do some charts when you ask that questions. I do not give recommendation, don't like this kinda of responsibility I simple trade what I feel and what I know to be, from experience and research, good potential trade. It is clear, for me, what trading is.

Losses vs Winners

How to cut losses?

1.Thigh stop
2.Pair with nice spread
3.Good broker (and good internet provider)
4.Education (should be first)!

How to allow winning positions to grow?

1.Education (simply my formation in this case) that your trade will run and run for better profits...
2.Patience to hold and to learn
3.Psychology (better know yourself, should be first)

So if you know better yourself and market, you will be independent, from anyone, and then, don't need my opinion and any recommendations. You and market will be the best teachers, and you will enriching and uplift others!
Manny traders even after years, loose because don't want to educate themselves, to know to understand, themselves and market. Manny people want simple HOWTO, and that is not enough to see bigger picture in time. You want to know, not only how to make money, but why you are doing it or loosing.
It has to be grater that simply make money, even a lot of them. It has to be passion and passion bring joy, knowledge and experience, better knowing.
Why do I telling this? And for what purpose is all about? Answer for yourself, or not!
 
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