121 pattern with pitchfork confirmation

Hi,

This is a setup I have come across, I will keep posting them as they appear.

Here’s one on the GBPCAD


Alcoa


Scalping opportunity on M1 AUD


Interesting, Harmonic based?

Cry

Yes, Harmonic based, it’s an ABCD but C retraces 50% more than AB, I think anyway. I use korharmonics to identify the 121 pattern. Here’s another example on USDHKD


Right. ABCD based but you actually trade after the 4th leg, not after the third leg as in abcd. that’s the main difference essentially?

That’s right, I trade after the 4th leg terminates at D with confluence of the median line of the pitchfork.

Usdnok


NZDUSD 5M


Apologies about the quality of the pictures, it’s the best I can do until my privileges allows me to link images directly.

A Break even trade.


Am I wrong or you spot entries with korharmonics indie? What verison do you sue of it? original settings?

Thx, Cry

Original settings should do the job, but in the settings make sure ‘One2One’ is set to ‘true’. Version I use is 6.7.13 or 6.7.11, bot work. If you want to make sure it’s working set ‘Show history patterns’ to ‘true’ and you should see some one2one’s.

Personally, I have a server setup that sends me emails when the setup appears on the 30m timeframe. You are more than welcome to join https://groups.google.com/group/harmonic-trading :slight_smile:

Right :wink: Thx for info, I’ll surely join :slight_smile:

Why do you trade only this pattern by the way?

Subscribed by the way, you are the only one posting there I see :wink:

Cry

I trade harmonic patterns as well, I suppose I could post some of them to the group, but I just wanted to dedicate this thread to 121’s because they are much more common. And there is already heaps out there on gartley patterns.

Yeah they are automated posts/emails sent from my server, I’ve only had it running for about a week, so I thought I might aswell set it up to send to a group rather than just myself. So you are the first member besides myself. :wink:

The only thing is the server will send out multiple emails for the one setup so it might get annoying.

Here’s a good one that I missed on 5m.

What do you use as TP and SL?

Cry

This is just a guide to the approach in regards to TP and SL

In saying that I closed out this position at the halfway mark to the tp, just due to it’s size and pa. You just have to look closely at PA when these lines are approached.

Right I guessed somethign similar. SO you always keep 1:2 RR… thats good =)

Very interesting,

Cry

And another GBPAUD, wasn’t as confident with this sideways movement, but it worked.