This new thread is to explore from the beginning the power of harmonic numbers and patterns in Forex (and also Stock) market. Here I’m going to place my trades, my ideas and all the knowledge I acquire during this musical journey. Very thanks to TMoneyBag, Modo, StuPIP and all the traders on the “30 Pips A day Keeps the your money at bay” thread, that introduced me to this wonderful trading method.
I recommend you to read at least the first 10 pages of that thread and the last 10 pages also to see examples of trades and patterns, and to find references of books and other documents.
The basic theory on Harmonic Patterns is that the market repeats itself because it is traded by humans, and we all are wired almost exactly in the deep of our brains. We, as individuals react in a unique way to the external (and internal) stimulus, but as a crowd, we can be predicted with well known rules. This form the patterns in a repeatable, predictable way, you only need to look at the right place and the right time.
This one is the hardest thing. Many thanks to H.M.Gartley, Scott Carney and Leonardo di Pisa that are the fathers of this knowledge. They made discoveries that gives to us a way, based on well defined rules to find this right place and right time.
The harmonic patterns are effective to at least 70%, making it very good way to trade and win. You can use them on Forex, but also on Stocks, Futures and maybe on the birth rate of rabbits and other events in nature.
I consider myself an almost newbie trader, both on stocks and forex, and I’m open to learn from you all, and also to teach what I know.
The rules of this thread are simply:
[li]harmonic trading is the principal topic, you can post something about other methods that help improve the trades with harmonic.[/li][li]blames are not permitted, they will be reported ASAP[/li][li]please put your charts when you are explaining a trade or a pattern, because a picture says more than 1000 words.[/li][/ul]Thanks, and welcome!