I had an order to go long on EUR/USD @ .618 of XA. it triggered, and got +30. Set another order @ .618, it triggered again at +30. (XA being bottom of 1st JUN to peak of 17 JUN)
Dukascopy’s JForex! … I enjoy the tax ‘free’ that the swiss provide through business accounts
long term and short term Support and/or resistance point and around .786 of AB (hence the ‘loose’ prediction)
UPDATE: USD/CAD ‘222’ point ‘C’ has not formed, confirmed, nor broken the 1.027 level (which is also the .382 of XA)
GBP/USD UPDATE:
C:1.565
D: 1.54119 (.786 OF XA AND 100% expansion of CD leg)
—NZD JPY update:—
Reasoning:
C: long term resistance (hopefully… if this news candle slows down)
D: 1.272 CD expansion and .786 of XA (perfect ‘D’ according to Gartley)
I am assuming that you are trading for point D?
Do you trade what might happen after point D? And if so, what exactly do you do because I have been having a hard time getting a good “estimate” as to where the price would hit or float after point D.
D = the completion of the pattern, where a significant bounce (usually back up to the 50% of XA occurs). I never trade on hopes that ‘D’ will form. I wait until ‘D’ level is hit. For example, i got home to a trade triggered on the AUD/USD @ 100% of CD expansion:
Note: Due to the pattern being completed in a rather short period, it elevates the risk substantially… nonetheless, there’s a greater than not chance that it will retrace.
Update 1: Stopped out moments later. We must emphasis the ‘elevated the risk substantially’…
Udate 2: aha! it did, however, hit the typical .127 CD expansion which coincides with the .886 XA retrace and grab me a double position to TP @ 15 pips. (total move was 29 pips to the .786 retrace. Thankfully my risk:reward ratio was 1:2.5, so i ended up .5 ahead.
How are you calculating that it jumps back to or around 50% of XA?
those are part of the rules of the 222 pattern. It doesn’t necessarily mean that it must retrace to .50, but generally it will. Furthermore, once it hits .50 and consolidated, it will usually continue in that direction.
Hi Jo…
What TF chart are you posting please. Like to see 1 day I think if not what TF. Thanks
For harmonics, I havent seen or heard any players use a 1 day TF. You can be the first! In this thread, 30 min TF is emphasized but it seems that some use 10 min, 15 min, and 1 hour TF.
It seems like he is using either 30 min TF or 1 hour TF. Most likely 30 min TF.
harmonics appear more and more as you go into longer and longer time frames. Accordingly, harmonics are formed primarily by the psychological outlook of traders and their respective actions; therefore, as the time frame becomes larger, more traders are involved in the market moves and thus provide greater emphasis…
for example, on the GBP/USD currency chart, go to 30 min timeframe and try to find a CD leg that is a 100% or 127.2% expansion AND completes itself in the same amount of time as AB (true harmonic)… it happens sparingly. Comparatively, on the daily timeframe, it will happen regularly; for example:
PJ
Thoughts:
This seems messy but i’ll explain:
TF: 1 Day
Solid blue : Long term retrace
dotted blue: Long term expansion
Solid Black: short term retrace
Dotted Black: short term expansion
To be a ‘true’ 222, we need to see price move up to the 1.6 region. for the time being, i’ll be looking for some price action that tells us to go short around the 1.5 region due to all the resistance, psychological, and large bank orders generally triggered around that region.
There is, however, a very strong resistance that will appear at the 1.571-1.572 region. If price decides to consolidate here for a few days, i will be looking to go short at this level.
On a side note, for those of you who like different patterns, there is a flat-topped triangle forming (continuation signal on a down trend) that had its ‘top’ at our 1.571-1.572 region. This is another reason to short in the near future.
PJ
This is a serious long term trade right here. Jong man, your trading platform only last 14 days for a demo! I assume you already entered the market?
I tried a lot of systems and strategies, finally found harmonic trading. It fits into my temper and I like
it. I want to improve harmonic trading. Firstly, there are 3 main levels, which market reaches: 38.2, 61.8
and 127.2 Fibonacci. And I want some suggestions how to filter, if it is going to be counter trend or
trend reversal. If it will be counter trend, then my TP1 would be 38.2 and TP2-61.8. If trend reversal
TP1-61.8, TP2-127.2. Any opinions or ideas?
TMB went from a man with a plan posting on babypips to a serious professional forex trader making the kind of money we all dream of. Although he had group teaching the same can be done by anyone here. All it takes is determination. One thing I’m fairly sure about is he never used harmonic indicators for finding patterns. Those who try to take the easy way out usually fail.
Three main levels? There are more than three levels IMHO. If you want to see if it will counter trend/trend reversal, why dont you couple your trading techniques with some oscillators? There, you can confirm the liquidity of the market and for example determine whether buyers are going to jump in or not.
Entered the market meaning I’m in a trade (not yet, i have to wait for confirmation/patterns to complete) or entering meaning im live? (which I have been since May)
PJ
Hey guys, really enjoy this thread and I just started experimenting with harmonics and I took this demo trade on the USD swissie and it worked out fairly well… i have found that these fib levels on the CHF repeat quite often, 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 executed correctly or should I have scaled out differently? I believe that I will continue using these patterns but always take profit after a specified amount of pips since there is too much uncertainty as to whether or not it will continue the move…
any feeback is appreciated! thanks 
Im using MT4 and I really want to start getting familiar with Marketscope but I can’t find a download link… is it offered by a broker or is it a platform that you can download and start a papermoney account?? if someone has a link to it or instructions on how to get it please enlighten me I can’t wait to try it out… thank you!!
Long EUR/CAD Triggered