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Harmonic Patterns

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Education
by UnknownUnicorn11526044
1
Harmonic Patterns With Advanced Explanations Check It OutHarmonic price patterns are those that take geometric price patterns to the next level by utilizing Fibonacci numbers to define precise turning points. Unlike other more common trading methods, harmonic trading attempts to predict future movements. Let's look at some examples of how harmonic price patterns are used to trade currencies in the forex market. ----------- KEY TAKEAWAYS Harmonic trading refers to the idea that trends are harmonic phenomena, meaning they can subdivided into smaller or larger waves that may predict price direction. Harmonic trading relies on Fibonacci numbers, which are used to create technical indicators. The Fibonacci sequence of numbers, starting with zero and one, is created by adding the previous two numbers: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc. This sequence can then be broken down into ratios which some believe provide clues as to where a given financial market will move to. The Gartley, bat, and crab are among the most popular harmonic patterns available to technical traders. ---------- Geometry and Fibonacci Numbers Harmonic trading combines patterns and math into a trading method that is precise and based on the premise that patterns repeat themselves. At the root of the methodology is the primary ratio, or some derivative of it (0.618 or 1.618). Complementing ratios include: 0.382, 0.50, 1.41, 2.0, 2.24, 2.618, 3.14 and 3.618. The primary ratio is found in almost all natural and environmental structures and events; it is also found in man-made structures. Since the pattern repeats throughout nature and within society, the ratio is also seen in the financial markets By finding patterns of varying lengths and magnitudes, the trader can then apply Fibonacci ratios to the patterns and try to predict future movements. The trading method is largely attributed to Scott Carney although others have contributed or found patterns and levels that enhance performance. Issues with Harmonics Harmonic price patterns are precise, requiring the pattern to show movements of a particular magnitude in order for the unfolding of the pattern to provide an accurate reversal point. A trader may often see a pattern that looks like a harmonic pattern, but the Fibonacci levels will not align in the pattern, thus rendering the pattern unreliable in terms of the harmonic approach. This can be an advantage, as it requires the trader to be patient and wait for ideal set-ups. Harmonic patterns can gauge how long current moves will last, but they can also be used to isolate reversal points. The danger occurs when a trader takes a position in the reversal area and the pattern fails. When this happens, the trader can be caught in a trade where the trend rapidly extends against him. Therefore, as with all trading strategies, risk must be controlled. It is important to note that patterns may exist within other patterns, and it is also possible that non-harmonic patterns may (and likely will) exist within the context of harmonic patterns. These can be used to aid in the effectiveness of the harmonic pattern and enhance entry and exit performance. Several price waves may also exist within a single harmonic wave (for instance, a CD wave or AB wave). Prices are constantly gyrating; therefore, it is important to focus on the bigger picture of the time frame being traded. The fractal nature of the markets allows the theory to be applied from the smallest to largest time frames. To use the method, a trader will benefit from a chart platform that allows him to plot multiple Fibonacci retracements to measure each wave. Types of Harmonic Patterns There is quite an assortment of harmonic patterns, although there are four that seem most popular. These are the Gartley, butterfly, bat, and crab patterns.
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BITSTAMP:BTCUSDEducation
by GoldenEngine
122
An up and down channelWelcome Back. Please support this idea with LIKE if you find it useful. *** What Is an Ascending Channel? An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs. *** An ascending channel is used in technical analysis to show an uptrend in a security’s price. It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively. Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals. *** A bearish channel is a continuation chart pattern (of a trend). A bearish channel is formed by two parallel bearish lines. The price progresses between these two parallel lines; the upper line is called the "resistance line"; the lower line is called the "support line". Each of these lines must have been touched at least twice to validate the pattern. NB: a line is said to be "valid" if the price line touches the support or resistance at least 3 times. This implies that the bearish channel pattern is considered valid if the price touches the support line at least 3 times and the resistance line twice (or the support line at least twice and the resistance line 3 times).
Education
by Saeed966
2
Pattern: how to use for make moneyCan you see the green light turn on? Cross the road. Can you see it raining outside? Take an umbrella. Do you see that there is a formed pattern on the currency chart? Analyze the market, specify which pattern it is, predict the price behavior, spend your profit. A pattern is a graphical figure on a chart created by repeating price combinations and displaying the pattern of price movement. Classification: Trend continuation patterns (after a pattern is formed, the price continues to move in the same trend in which it opened it). 1. Classic triangle It is formed by two lines, one of which is located on the chart at right angles to the coordinates (level). To form a pattern, at least 4 price touches are required. And you can start trading only after the pattern is completely formed - in this case, the price breaks through the level, “fixes on it by means of a rollback and continues to grow. 2. Pennant Here, the upper line of the figure is not the level, but that line. Both lines must not be parallel (otherwise it will be "Flag"). If a straight line is drawn from the vertex of the intersection of the lines, it should divide the line of the figure base in half. The mechanics of the pattern: 4 touches, complete formation of the pattern, rebound from the line, opening a trade. 3. Flag. To form this figure, only three points are needed and its slope on the chart can be absolutely any. There is no need to wait for the price to form a pattern and leave the pattern. The deal is opened after the price rebounds from the third point. Reversal patterns (change the direction of the trend after the completion of the formation) 1. Head and shoulders Depending on the trend, it can form at local lows (in a downtrend) or highs (in an upward) price. “Neck” is a straight line at the base of the figure. After the complete formation of the pattern, we can expect the price movement equal to the size of the pattern's height: from the middle of the “neck” to the top of the “head”. 2. Double / Triple Top-Bottom The pattern is very similar to the Head and Shoulders, with the difference that the extremes (tops of the pattern) are located approximately on the same line. The “Double Top” pattern type implies the presence of two extremums and is a “bearish” pattern - that is, after its formation, the price changes its trend from upward to downward. “Double Bottom” is on the contrary a “bullish” pattern that changes a downtrend to an uptrend. 3 Wedge Almost like a triangle, but incomplete. Feature: slope down (downward) or up (upward). The lines of the figure intersect, but not in the foreseeable space, but if they are mentally lengthened. In a reversal pattern, prior to the formation of a pattern, there should be no momentum that determines the direction of the trend. Do you use patterns in trading? ------------------------ Share your opinion in the comments and support the idea with likes. Thank you for your support!
Education
by DeGRAM
6
How to Objectively place Fibonacci RetracementsI've seen people place retracements in interesting ways and just want to show an objective way to place your retracements. You need a top, a bottom, and a corrective wave or reversal that you are analyzing. Now, fibs are everywhere and you can place them however works best for you and there is no ONE way, but this is for people who want to approach learning fib in the most objective way possible. I believe it is smart to have strict rules in your trading system and rules that align with what most pros are used to following. Good luck, HOOP
OANDA:XAUUSDEducation
by HOOPFOOD
1
Book reviews | Even at SNB Capital do this ...Reading this book ("the Messenger" by Klaus Joel), you may think: "why am I doing this? No practical use." The author wrote a fictional story about an angel who teaches to "send love" to events or people, thereby harmonizing them and charging them for a positive outcome. Everything would be fine if we did not use such practices ourselves and did not have excellent results in doing business (all 4 funds managed by us are in a good plus, and most of the recommendations that we wrote about in the network brought excellent income to those who used them). In General, many hours of classes on the REIKI system make themselves felt (the essence of the system is very similar to the one described in the book). Well, the TOP idea of this book: if you believe in "IT" , then it works for you! PS: by the Way, I don't think that world-famous traders from SNB Capital are engaged in "nonsense", spending every day meditating on the successful outcome of the day, visualizing the outcome of a successful transaction and charging it with positive emotions. If you haven't watched the movie "Wars with wall Street" (season 2), we highly recommend it (if you have an archive in the library, you can write us in your personal messages and we will send you a quick download link).
NASDAQ:LOVEEducation
by ivan_gold_star_
Book reviews | what is useful for a trader novel about India Many people believe that in order to successfully trade on the stock exchange, you need to study only specialized literature. I believe that a person should develop comprehensively, and business and life outside of business are an inseparable whole. And if a person has big problems in the family or difficulties in everyday life, it will sooner or later affect their work! But let's go to the review. To begin with, I read this book on the advice of a friend who said that almost everyone who read it carefully and to the end has since visited India. I am no exception, and I lived in India not passing through, and wintered from 2018 to 2019, and still stayed for the rainy season. I left this country in August 2019. As a rule, any book or event I have is analyzed to identify the TOP ideas or tips that I can apply in my life to improve it or make it better. In this book, the main idea for me is that if you really want something , then you should act without looking back, as if there is no road back and bridges have already been burned. This is what happened to the author of the book, who escaped from the strictest and most secure prison in Australia. I also realized that the power of visualization, charged with emotions, is incredibly strong and quickly brings you closer to your goal! I remember reading it and imagining slums, Indian cafes, smells and dishes. And then when I business traveled and studied Indian championship in football, and visiting different places (Guwhati, Mumbai, Bangalore, Delhi) I just remembered that this is exactly how I imagined it all! A lot of course in the book is invented and a lot of fictional stories, but the power of visualization really helps. For those who do not want to read this book or listen to the audio version, we have it in the library in various formats and we will share it with you without any problems. Well, for those who finally decide that the money you earn on the stock exchange is needed to spend it somewhere, I advise you to take a closer look at traveling to India, because this will really change your life! TOP 3 IDEAS how useful the book "Shantaram" will be for you" 1) Helps you learn how to visualize with emotions, which speeds up your goal achievement 2) Helps you understand that achieving a goal depends on determination, and bridges behind your back 3) Expands your horizons and makes the world much richer PS: photos are not added here, links are not inserted, so write in private messages.
NSE:COLPALEducation
by ivan_gold_star_
Reviews| A book that gives great advice in life NOT to give UP I will start my review with the fact that this is really a very interesting and useful book! Reading it and simultaneously looking at the places and buildings that appeared thanks to this person on the Internet, I was somehow transported to the past. Many interesting stories from the life of this great man really inspired me and inspire me to this day. How negotiations were conducted, how millions of investments were made, how new solutions had to be found, and most importantly, how it turned out to "not give up". Many will agree with me that the President of the most powerful country in the world can only be a man to match it - this is Donald trump! As you know, I work as a Manager in the financial markets, in particular trading on the betting exchange. I often share my deals online. And so it turned out that one of our deals was related to the victory of trump in the US elections in 2020. You can read more about this here: (link on request in private messages) So at the beginning, the deal was profitable, and we were so confident in its passage that we did not insure the position (hedge the risks with a reverse bid). It was also interesting that during the counting of votes, trump led on his coefficient fell from 3.0 to 1.45 and the probability of winning was 80%. But then something went wrong and trump began to lose. Our position also started to lose! The most interesting thing I saw was the reaction of people. Those who previously did not pay attention to our activities began to ridicule the allegedly lost deal, and the coefficient for trump's victory rose as much as 32! You can not imagine what kind of accusations I did not have to hear and the most amazing thing is that no one said a single word about the previous deals that we shared, and which brought a total income of more than +300% flat, none of them lost! We will specifically publish them here again: 1) 23.10.2020 (1) Khabib-Geiji result +35% (link on request in private messages) 2) 18.10.2020 (0) Rublev-Chorich result +29% (link on request in private messages) 3) 11.10.2020 (0) Djokovic – Nadal score +75% (reference upon request in private messages) 4) 30.09.2020 (0) PAOK FC Krasnodar result +60% (reference upon request in private messages) 5) 26.09.2020 (0) Adansonia – Costa result +60% (reference upon request in private messages) The most interesting thing is that if Biden is already President now, why don't you bet $ 1 million on his victory and earn +10% "guaranteed" (liquidity makes it possible, the turnover for this event is almost a billion dollars) or it's scary that trump "won't give up" and will become President? And we have already added a bit to the position by the coefficient of 21-32 and will wait for the outcome of the event. And even if we lose, we will definitely win back with the next deals. PS: If someone is interested, you can look at interesting stories on our page, we saved a couple of screenshots with stories for a change. And our next book to read will be: Nassim Taleb's "black Swan" and I think you know why.
NYSE:PFEEducation
by ivan_gold_star_
And the wind blew, the earth split and it appeared ...The birth of BTC pumpkin. One dark dark evening, in a terrible 2017, when huge incomes of investors drove them to euphoric blood-strokes, it was born... Vegetable electronic evil , the king of margin calls, garden crypto ganster - BTC pumpkin. With the right hand, it weakens the growing trend , and with the left hand it attracts with overbought stochastics, bear patterns and low volumes of bold sellers in the position ...and vice versa... And no one knows peace from it for 3 years! BTC Pumpkin's worst weapon is its mood. The bipolar disorder of this vitamin monster changes the mood every six months . Will we see a new wave of BTC Pumpkin bad mood? What is more terrifying, grater, blender or saw? Today is the day when the crypto pumpkin knocks on the deposit house of every investor and says "treat or margin call?" We hope you love sweets! Can the BTC market free itself from the Pumpkin shackles? It remains to wait only six months... P.S. Drug use is bad for your health and hampers your trading.
BITFINEX:BTCUSDEducation
by P_S_trade
7
Fibonacci Retrace EducationI've had a few of you guys asking me about how I determine my corrective/reversal points per fib, and since I had a great trader teach me the ropes on how fib moves, I thought I would do the same. Follow each colored arrow to its respective fib. These are typical fib patterns to see on retraces. The same happens in bear markets. Also, you will need to apply these rules to the respective range. None of this is guaranteed to happen also. Studying fib will quickly teach you that there's fibs within fibs, so that's why you really have to measure each level and measure all ranges. This becomes easier through time and as you apply it to your trading. Best practice is to just study retraces. Fib IMO works best with an oscillator of choice, and an advanced level of understanding volume within price action. Lastly, understand -- not even fib is perfect and I did not list every typical scenario that fib retraces show. These are most of them though. If you understand the power of the 618 and the 382 (618 inverse), then you're well on your way. *not an indication to buy or sell* *use at your own risk* Educational Purposes Only. Goodluck.
OANDA:XAUUSDEducation
by HOOPFOOD
The only continiously working trade strategy/setup in the worldI'm sure you have spent couple life times reading trading analysis and tutorials on investing/trading/gambling/throwing digital numbers into black void.. whatever you wanna call this digital illusion where funny chart lines are in control of your life's happiness, making you a total willing or unwilling slave.... and NONE of the analyst's predictions work while all analysts are constantly wrong. Analysts and gurus always slimy weaseling out why their projected trade analysis didn't work out. The truth is that they and have no idea what they are doing, their charts are just pretty drawings to make themselves look cool and give themselves pseudo meaning of life. No one has a clue what they are doing, not even the robots, the robots just follow rules with no forward vision of future what so ever. Some analysts/traders look for affirmation from others in their charts, so they can say they got it right. Even if the analysts get it right 1/20th of the time it justifies 19 charts wasting your time, 19 wrong, but on the 20th they got right they will blow their load or gasm in some form or other, then print the chart out and poster on the wall, forever bragging how they can predict the markets. Do not worry, F the analysts, because I have knowledge of the only continuously working trade setup in the world. I developed this strategy just as I began trading while being advised by my ex bf. This is the only strategy that ever worked for me in my 20 years of experience in trading Crypto. Countless hours/days/weeks/years of reading guru and analyst charts, I have not grown smarter and all other strategies have created inconsistent returns and/or losses. This strategy does not care what the price is. You will never have to worry about missing out on a bubble. You will never have to research, look at fundamentals, or be invested or loyal to a stock/crypto/whatever magic poop you trading. Simply sort charts by volume/daily volatility and jump right in. This somewhat mimics the bots and you have to have the energy to do 1000's of exciting sweaty armpit trades while being glued to the monitor! It's what you wanted anyway- exciting emotions similar to gambling at casino, except with actual possibility to win. Couple notes of accumulated experience before doing any moves with strategy explained below: Never ever use leverage. I have over 500+ full account liquidations and I have smashed monitors and screamed and blown a lot of nerves. With this setup no leverage is needed. Never ever let a trade go wrong more than 10%. Never fomo into a pump, unless it's a real big pump. Always go all-in, never hesitate. Hesitation shows weakness. How can you tell yourself you are sure what you are doing if you only bring 50% of the stash at the exchange you are at? How can people believe and follow a weak-minded person that does not know where she is going? At most you can lose everything, and that is inevitable anyway with a grave or furnace waiting for you somewhere sometime. Do not trade when sleepy. Do not go for 2.99USD omelet breakfast while 3x on a $500k trade during extreme volatility on an alt-coin with no stop-loss. Do not long when price above 7MA in time frame. Do not be greedy. Close in time. Do not trade angry or revenge trade. 1-5% profit per day consistently is the goal, not big leverage. Use Limit order as often as possible. Find resistance points. Shorts can max profit of 100% by price going to zero. Longs have infinite upside. Short max 10%. Long only. Shorting does not work psychologically with this strategy. Here is the strategy, which is also have written up on the chart. I am using current BTC market at 15min for this strategy explanation because as mentioned above it does simply not matter what the price is, where it is going long term, or fundamentals or other useless indicators claiming to predict the future. #0 Watch in disbelief how the market continues to rise with no pull backs below moving averages. #1 Find some historic support that kind of looks like what other traders might be thinking is support simply because they have no idea what they doing while thinking they doing god's work by dreaming of being charting technician analysts at Goldman Sachs impressing the llittlle blad vampifien himself. #2 Wait for price to dump, never ever buy above moving averages in whatever impatient time frame you are in. Set some price movement alarms and get behind comp when phone rings and it starts to dump. Be greedy when others fearful. You'll know it' a dump when you just step back and chill until it comes. When it looks EXTRA fukt and you real glad you are out of the water, that is when it's time to step into the liquid. #3 Open aggr.trade on 1 second view & turn on sound. Get ready to fomo all-in. Adjust limit buy order price by the seconds so it's always slightly above current price. Hover your mouse on the buy-button ready to fomo all-in. When aggr.trade changes tone major way and volume spikes, hold your breath 20 seconds, then fomo-all-in slamming buy button. PRAY! You have no control! Put STOP LIMIT always 0.5% to 1% after FOMOing into trade. If you wrong, then you wrong. BREAKING THIS RULE IS YOUR SINGLE GREATEST MISTAKE. #4 Sell ALWAYS ALWAYS on the the 5th candle since opening trade. Pray you can sell it at the top of the candle, but sell while candle open regardless. In above chart/example, the absolute best you could done by HODLing trade from $12937 to $13154 is 1.677%, but with this FREE™ trading setup of 6x winning trades and 1x losing trade you are at 3.27%. Obviously trading fees eat a lot of profits and this may not be viable in this calm of a market, but during higher volatility or higher time frames this method works great. For me it has worked the best during the craziest volatility, when market is bouncing intra-hour up and down 2-3-4-5-10%. During the craziest times this method works the best. Trade 1: 13054/12937 = 1.00904 Trade 2: 12988/12937 = 1.00394 Trade 3: 13022/12937 = 1.00657 Trade 4: 13027/12964 = 1.00485 Trade 5: 13044/12955 = 1.00686 Trade 6: 13091/13009 = 1.00630 Trade 7: 12991/13059 = 0.99479 ---------------- 1.0327% The best things in life are free. Thank me later.
COINBASE:BTCUSDEducation
by cashonly
10
Where would you enter?A channel is one of the most basic price action patterns The channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades, as well as controlling risk. The first step is to learn how to identify channels. The next steps include determining where and when to enter a trade, where to place stop-loss orders, and where to take profits. $$$$$$$ Trading channels can be drawn on charts to help see uptrends and downtrends in a stock, commodity, ETF , or forex pair. Traders also use channels to identify potential buy and sell points, as well as set price targets and stop-loss points. Ascending channels angle up during uptrends and descending channels slope downward in downtrends. Other technical indicators, such as volume , can enhance the signals generated from trading channels. How long the channel has lasted will help determine the trend's underlying strength.
OANDA:XAUUSDEducation
by Saeed966
12