Anyone trade the gartley, butterfly, crab, etc live? I heard they have around a 70% win rate.
Harmonics do have a pretty high win rate, but there is a key caveat to that statistic…not all harmonics are created equally.
Every day, on every time frame you can find hundreds of harmonic patterns-but, that doesn’t mean that each will hit some sort of profit target 70% of the time consistently.
I have a strategy for trading harmonics on intraday timeframes. I couple the underlying harmonic principles with price action, supply/demand analysis and a momentum indicator.
Hello ‘boxer15’…
Have you read this (huge) thread?
http://forums.babypips.com/forextown/21934-30-pips-day-keeps-your-money-bay.html
It is all about the very patterns of which you speak (Gartley, Butterfly, etc.)… Lots of chart analysis, and examples…
Go for it…
Cheers
They do have a high success rate but you need to be able to spot, manage and execute in the PRZ and adjust accordingly.