hey elephant my D point is confluent with the XA 50 FIB And the 1.272 of BA, how did you measure your D?
I am still very new to these patterns
Hey Paska,
I am assuming that this is a bat pattern that you are attempting to do? I donât have a point D but I do have a PRZ. This PRZ helps reassure me if the pattern can retrace again and determine if the pattern âactuallyâ completes (or make it valid) . If you want to say, my point D is the whole box.
Or if you want it in your terminology, my XA .382 FIB is confluent with the 1.618 AB=CD.
Hey Paska,
Do you enter on your trade at your point D? If you did, you would have made mad pips.
it never reached my D?
It was like a couple pips away from your point D. I replicated your work and it was fairly close. Did you have an entry?
I am testing my Gartlyâs and I donât know which one would be a better trade to take. I mean how do you recognize which Fibonacchi level to take when you make a trade?
1.6195 was the area i was looking for, although the 61.8 of XA fib may have been the better spot for the PRZ.
Try to look for confluences in fib zones
I noticed that you have you pattern on Bid remember that Bullish patterns are set to Ask and Bearish patterns on Bid to get better entry
eddie what do u think of the NZ pattern overall and taking a long at the 78.6 of XA
overall I think it has good symmetry but i am having a tight stop just incase price breaks down and hits the daily/weekly pivot
I ended up taking this trade, doesnât seem like it is working out.
I have no idea if TMB is still going by these times but in the beginning of the thread he gave some times to trade and fake out hours and this trade ended up completing in the fake out time(around 11:00-11:30pm est) so I am assuming there still accurate.
Times when most Dâs develop on any given pair (EST time):
6pm-8pm, 12am-3am, 5am-6am, 10am-11:30am
Times when Dâs tend to "Fake out"
9pm-11:00pm, 7am-9:30am, 2pm-4:30pm
(These times can be traded, simply note that it typically fail towards a more profound D).
Thereâs been a shift in the market which cause TMB to change the times I believe they are 9pm - 2am when Dâs are forming. Donât quote me exactly on those times but he definitely made a post stating that the times and the market have shifted! You might have to go thru the thread to find it though!
Hope that helps!
Did not know that thanks for the heads up.
Eddie would it be fair to say its best to take trades from london open to ny close?
Yes but apparently the hours I just posted are outdated so I guess its time to go through the thread and find out exactly which are the new hours but yeah london to ny would be the best sessions to trade.
I think it is best to take trades when you see pattern forming or completing. I donât think time frame really matters with harmonic. That is my opinion. I work around the market that is most convenient for me.
This is the NJ pair. I placed buy limits at my D (remember, DEMO account) and of course, stops at levels where it deem to be extreme. It seemed to fit a butterfly pattern quite nicely.
nice thread.
but can any of you recommend a book, with an in depth explenation on these patterns?
thanks!