I have recently discovered Harmonic pattern trading and after browsing the “30 pips a day keeps your money at bay” thread by TMoneyBags I have become addicted to searching and analyzing these patterns.
Thought I’d start a thread to get some feedback on some of the patterns I find as well as some questions answered by more experienced traders as I go through the process of discovering the magic of harmonic patterns!!
Hopefully other inexperienced traders who are intrigued by technical analysis will benefit as well.
Here’s a three-drives pattern that I’ve been looking at … It’s on a low TF which made me a bit skeptical but since it is a demo account and the symmetry was perfect, I decided to give it a shot…
Went short @ .95422 and closed half of the position at the .382 fib level drawn from A-D… stayed short until the .618 retracement of A-D @ .95390 and then covered once i saw a “hammer-like” candle finishing up, immediately after it we saw a bullish candle form and a continuation of the uptrend… yes it is a tiny amount of pips but I was just testing out the strategy…
please let me know if i executed this correctly, what you would done differently, and any analysis that I may be missing…
i will continue posting my findings, any feedback is greatly appreciated! 
I took this demo trade on the USD swissie and it worked out fairly well, again it is a very low TF so it’s validity while forming is always kinda sketchy… let me know what you guys think of my levels and if I should have changed them and maybe drawn it differently…
its a Gartley in which CD retraces 78.6, that was my entry point and i took half of my position off at the 38.2 retracement of ABCD and let the rest run… as you can see it continued heading lower but I closed out at the 100% and Im flat now…
let me know what you guys think and if I should have scaled out differently? I believe that I will continue using these patterns but take profit after a specific amount of pips since there is too much uncertainty as to whether or not it will continue the move…
thanks to anyone who took the time to help out
I’ve been riding this back to back Gartley formation on the 30-minute USD/JPY since the completion of the CD leg on the first pattern. The Bearish Gartley retraced to the .618 level for a gain of 52 pips.
Waiting for a profit target at 79.566 (38.2% retracement of A-D on second Gartley) to close out the trade on the yellow Bullish Gartley.
(The first pattern [bear] is outlined by blue lines and the second in yellow triangles [bull])
Looking at 27 pips if closed out at the next exit level and 35 if it continues on to 50% retracement.
In all honesty, this D point was made by price falling through the floor. when that is happening you never mentioned where the stop would go? i ask cause if you saw where the trade went, i hope you had stops in place haha
