Harmonic Trading

Pipsaholic

Well-known member
266 3
Hi,

Is harmonics all hype that it produces 60-80% accurate signals when using this or is anyone successfully using the gartley, bat patterns. I am very skeptical.

Thx.
 

natureboy

Established member
770 2
How do you measure the accuracy? What is the exact entry method?

...It depends - short answer.

Longer answer - Butterfly pattern if you put on charts and go count which ones lead to a reversal swing, i've found about 70% accuracy yes. Gartley lower.

However - how are the patterns defined?? If you use methods that require exact ratios or near exact ratios to define the pattern you will have a different population than if you define the patterns just by relative pivot position.

Even with the accuracy, how do you enter? Depending on entry method, you could have more than one stop out on a pattern even if the pattern ends up working! If you wait for reaction from pattern before entering, odds are higher.
 
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