does anyone know of any good video tutorials for harmonic patterns??
Check out Akil Stokes on Youtube. Look on FF at Mr. Pip’s thread. He has great uploaded materials on Harmonics and a few videos. Once you understand that the patterns are similar, go through them and write down the different percentages and entry techniques. Harmonics are a part of how I trade, but only a part. The rest is Inner Circle Trader. And in fairness a few other things.
Btw, if you understand the difference between abcd versus ab=cd, and know Gartley’s Bat’s and Cyphers pretty well (maybe Butterflies too) and undrstand the concept of structure, you’re in a really good position
ok cool. i was looking at the graph just now and recognized that price action and realized i was looking at this same chart earlier today and made a trade on it. i actually got stopped out when the price made that drop towards the end of the graph. it looks like you got in perfectly. i wanna be able to recognize these patterns. i will look at those videos. thank you
Actually, I was searching for an example and rushed a little bit. The way I drew this is not very good. The chart I drew shows two possible bearish entries based on the 78.6 extension. A better way to draw this would be to have X at the high at .8628. That brings the D entry up to 8613. I’d move the SL up to > .8632.
For a Cypher the C extension (in my book) must reach 127%XA without the close exceeding 141%XA.
This is a good pattern, and knowing this one, Bats, Gartley’s I think is very helpful even if one is not a primarily Harmonic trader. Notice that if yo make the change I indicate, that the entry is right inside the very obvious Supply zone formed on 12/22
Sorry for the confusion.
Harmonics patterns are very good to trade on but they are indeed very complex to understand and differentiate from each other properly. If you start trading on one single patterns at a time then you can get some good grip on them.
Question, i know some points have exact fib ratios and some have a range. Will the fibs ever be over or under a range or exact point? Or does that seem the pattern invalid? I.e leg ab has a range of .382-.87, what if it the actual fib was .9 would the pattern still be valid? Is there wiggle room?