Hello all!
I am trying to get a better understanding of harmonic patters. I saw this one, and I was wondering if this is indeed a bullish gartley. I noticed that not every fibonacci retracement is exactly corresponding with the schoolbooks, but does that matter? Or should each fibonacci retracement be spot-on?
Thanks in advance!
Edit1: And something else: Does anyone maybe has a tip (tutorial videos or something?) in order to fasten up the learning process on harmonic patterns?
Does anyone maybe has a tip (tutorial videos or something?) in order to fasten up the learning process on harmonic patterns?
Yes, I have a tip. Forget about harmonic patterns and start spending time on finding your edge. There is no such thing as read a book and learn how to trade… there is only one way… go and do it on your own.
Most of such inventories are utter rubbish and exist only because there are people who believe that things like that might actually work plus they are/were ready to pay for “education”.
This is probably the worst advice you could give someone @ARTjoMS.
@Maarten91 - What the most common theme you’ll hear from any great trader is consistency and I do agree with you that harmonic patterns are a great way to gain consistency because they are so specific. There are free lessons on harmonic patterns you can read over as well as I printed out the harmonic pattern guide that is on the last page of the “harmonicmag”. I do not know the link but google it and you will find.
This will help you.
Harmonic series part 1 - YouTube
Complete the series and you should be good to go!
this kind of analysis is useless on a 1 minute chart.
The pattern shown here is not a Gartley. The Gartley is drawn from point “X” to “A” then to “B”, but “C” must not exceed point “A”. In this example it does, however, that said, this pattern worked, but in answer to the question, it is no. Below is an example of a bullish Gartley about to form. Incidentally, this pattern did form and worked beautifully. Those who shun Harmonics haven’t grasped it. For me, it is the closest to the holy grail.
