I have just installed KorHarmonics and am playing around with it. My interested was piqued when reading the school of pipsology harmonic pattern pages.
Am i right in saying (after quite a bit of research)... that the skill, which comes from experience, is being able to identify point D, where the reversal happens?
My main question is about take profits... the internet is filled with people who say to use different fibo retracement levels (some fro B-D, some from C-D...). How do you guys set your TP levels?
OP - do you use 30 pips exactly every time? I am looking to trade a few different time frames, so 30 pips doesnt always seem right.
With regards to Stop losses - does anyone have any rules for this?
Basically, I am a noob. So, for now, getting started it would be nice to have some harder rules to play by. Then as my experience grows I can start to create my own...
Thanks a lot guys, good luck.