Harmonic Trading and my ABCDE pattern

[iwantu2brich]

Key point is to understand that in both this pictures was my formation ABCDE! First picture represent potential setup, and second, actual trade and my formation as a target point to close open position! I don't know what will happen next. I close position and don't look back! Don't know also, is market will do some HH from E point, in theory It should, but as we know, we have big formation on D1 time frame. So my formation ABCDE, was only indicator to close positions, nothing more, and I realized then, that:

MARKET MUST BE RESPECTED.

What I mean by that is, when I am on open position and some contradiction occur I close it, simple as that! Steve Nison talks about "Being Market Chameleon" So even with contradiction you still making money! You can still jump in, later! Of course in respect to HT knowledge!

 

[ikicker]

Just call it what it is, a triangle.

Have a look at post #8 http://www.trade2win.com/boards/for...rately-seeking-good-daily-trading-system.html
Might make more sense. But bear in mind that this was defined back in the 1930's. Everyone else is just trying to put their stamp on R N Elliott's discovery.

I'm sure there were people doing it even before him. Just because we dont name something that already exists doesnt mean it doesnt exist or someone else doesnt already use it.

 

[iwantu2brich]

Correct Silentdud!

All is about point of view, if you have many point of views then better for as all. All is valued, even when some person perceiving so different, that to others, it have no logic!

For example, in our country Poland, we have only one person who wrote book about Harmonic Trading. His approach to trading (and HT) is different! So much so, that people's who meeting with me after being on his seminar, is confused greatly in many years!

Look at this examples of his "Butterfly" example patterns:




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Not all of formations in this book is so "NON-harmonic" But confuse stays! And confuse is only for those who remain self victims! This book in my opinion is not only confusing concept but its incoherent! AND

THERE FUN BEGINS!

If you are so bold and so passion about HT and live itself (trading live), YOU'LL FIND A WAY And that's the beauty of this! So I want to admit that, this book was a GREATEST HT start for me!

Book is named Geometria Fibonacciego -Pawel Danielewicz

 

[iwantu2brich]

Its funny, because market do some HH from point E, but not as we expected, but still my formation works perfectly! As an example, I'll show you beautiful harmony in market movements. My strong opinion stays as I said, that my formation is still valued, until point E goes below point A!



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[iwantu2brich]

I don't mention in previous post that what you see on picture is of course an Gartley Pattern! Frankly speaking I was sleeping when it happened, but this kind of setup have strong value, compare of course with higher time frames. When 2 or more patterns confluence witch each other, plus higher TF confirm in geometry or candlestick patterns.

 

[iwantu2brich]

I don't mention in previous post that, what you see on picture is of course an Gartley Pattern! Frankly speaking I was sleeping when it happened, but this kind of setup have strong value, compare of course with higher time frames. When 2 or more patterns confluence witch each other, plus higher TF confirm in geometry or candlestick patterns.

And it was! Lucky I was involve in this move, when I walk up on good, but I don't utilize all this move, but who cares, Risk/Reward Ratio was 10:1, not so bad...

Someone can ask about contradiction, on daily chart as we've seen, we had bearish formation, so why this smaller was so important? Answer to this question lays deeply in understanding the paradox!
More in another coming days!

 

[targus+]

Hi Guys

Where did 'iwantu2brich' go?

 

[forexkunta]

The same place that everyone goes to when someone disagrees with their method.
Some where else!

 

[targus+]

Hi forexkunta,

I read the thread

Recently I have been looking at this harmonic trading or 'elliot spin off' if you will. For someone like myself and with other indy/signal confirmations it can help. Early days yet though, I have only been trying it for a week. Besides something like elliott is so lost on the likes of me, very difficult. Here are my recent charts with.

Shame everything went west with the thread, I do think it has some merit.

 

[forexkunta]

IF you are serious about Elliott Wave, then I would suggest you stick to EW and learn it as well as you can. I was exposed to it 18 months ago, and it took a while to get a handle on it. I would suggest going to elliottwave.com and learning from the pros there.
The first book on EW is probably the most important, and I read the first 2 chapters around 20 times to get it to sink in. When it comes, it will be a WOW day. The Moving Average course is also very excellant, and provides some good insights into trading the markets, as the EW people do. Be assured that there is no Black Magic to Elliott Wave.
Most people dont want to spend the time to get proficient with it. Once you do, then the sky is the limit.
Good luck,
Kent

Hi forexkunta,

I read the thread

Recently I have been looking at this harmonic trading or 'elliot spin off' if you will. For someone like myself and with other indy/signal confirmations it can help. Early days yet though, I have only been trying it for a week. Besides something like elliott is so lost on the likes of me, very difficult. Here are my recent charts with.

Shame everything went west with the thread, I do think it has some merit.

 

[targus+]

Hey, thanks Kent,

I will go take a look. It worries me it might be too much of challenge, but then so has trading for this past year, thank you for the recommendation, I hope you will forgive me if I come back and start pestering you on it though.

Kind regards.

 

[elitejets]

Recently I have been looking at this harmonic trading or 'elliot spin off' if you will.

HM Gartley's book describing Gartley patterns was published in 1935.
R.N.Elliott's original book The Wave Principle was published in 1938.

I would not call it an "elliott spin off", you might want to do some more research.
I use harmonics every day, I have no clue about elliott wave.

 

[targus+]

HM Gartley's book describing Gartley patterns was published in 1935.
R.N.Elliott's original book The Wave Principle was published in 1938.

I would not call it an "elliott spin off", you might want to do some more research.
I use harmonics every day, I have no clue about elliott wave.

Hey Hi, elitejets

Yes, I will do more research on it.

I quite like the ab=cd ie., ab leg, bc leg, cd leg. Average success rate 70/80% including all timeframes from the 1m to the weekly and based on that great man himself, the fibs.

I'm hoping, eventually, I will be able to recognise them, without the aids, if you will, albeit the patterns so light up the charts.

Having quickly experienced uncanny results, I just assumed there must be some 'elliot wave' background or 'spin off' in there.

Do you have any recommended avenues for research as well as Gartley.

 

[elitejets]

I have a couple of pattern searching indicators but that works best as an alert really, the best ones are the ones you identify and measure yourself.
I can send you a link for a free download if you are interested.
I like Larry Pasavento's book "Trade what you see" and I am reading Ross Beck's "The Gartley Trading Method"

If you are new then FXgroundworks have a deal where if you open a $2k account with a certain broker they give you free signals alerting you to patterns including SMS to your phone. They have over a 70% win rate.
I like www.harmonictrader.com and www.tradingarsenal.com

 

[targus+]

I have a couple of pattern searching indicators but that works best as an alert really, the best ones are the ones you identify and measure yourself.
I can send you a link for a free download if you are interested.
I like Larry Pasavento's book "Trade what you see" and I am reading Ross Beck's "The Gartley Trading Method"

If you are new then FXgroundworks have a deal where if you open a $2k account with a certain broker they give you free signals alerting you to patterns including SMS to your phone. They have over a 70% win rate.
I like www.harmonictrader.com and www.tradingarsenal.com

I will be reading up on elliot wave over the weekend as recommended by Kent, I suspect it will take some doing but very worthwhile.

I know of tradingarsenal, excellent work, really helpful guys, they are doing a fantastic job, all free, what more can I say, real comrades, they got the title right too. There are people who have taken their hard work and are selling it as their own on the internet, I understand 'elemental trader' was/is selling a zup version rip-off for £2000! Zup and some say the original, with various improved versions, all great works in progress, is just as impressive as tradingarsenal, I have downloaded both.

Fxgroundsworks, sounds interesting, I will check it out, thanks. I wonder if your own downloaded versions available at tradingarsenal or Zup, show up with similier patterns given to you on sms alerts?

Have you downloaded the sigmonitor from tradingarsenal?

 

[targus+]

By the way, how do you measure Gartley, any links?

 

[elitejets]

Have you downloaded the sigmonitor from tradingarsenal?

No I haven't, I don't use any signals but the guy is knowledgeable and helpful

 

[elitejets]

By the way, how do you measure Gartley, any links?

http://www.harmonictrader.com/price_patternsgartley.htm

 

[targus+]

elitejets

Are you using fxgroundworks? If you are, how often and what typical timeframe do they tend to alert you?

 

[targus+]

usd/chf

long with a nice hourly bullish butterfly, we will see how she goes.

my usd/cad turned very nice too.