discussion in our Daily Setups discussion thread on the ABCD patterns -> Interactive Trading Setups Disscussion
ohhhhh i really hope i didn't modify anything. i downloaded the indicator 4 days ago so i think i have the last one (v6-7-13).
for me this graph is an enigma. Am I the only one to see an abcd pattern on aud h4 with C above A ???
The fibo tool tells me 1.054 (1.00) so maybe the korharmonicx takes all retracements till 1.00 ?
discussion in our Daily Setups discussion thread on the ABCD patterns -> Interactive Trading Setups Disscussion
I was trying abcd patterns, but it didn't work. Not sure if i did anything wrong. Does it matter which time frame to use? I trade on H1
works the same on any timeframe.
Harmonics Tube - daily trading setups based on harmonic patterns
Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
AMPmonitor - harmonic and price patterns recognition Scanner that I use
TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading
Hi,
I've some questions about the AB=CD pattern.
If we considere for example the perfect AB=CD pattern, C will retrace to 0.618% of AB, giving us a PRZ defined by AB=CD and D = 161.8% of BC.
Do we enter a trade as soon of both levels are crossed?
Are there some tips to predict some extension of the CD leg?
What is the profit target? Often 38.2% of A to D is too close to the entry?
Anybody interested to define a trading plan? For example, we could set the first profit target to 38.2% or 61.8% of A to D and define a stoploss to have a 2:1 risk/reward ratio.
Then there would be different strategies when we reach the first profit target:
1) Close all the lots winning 2 times the risk of the trade
2) Close one half of the trade and wait for the second part to go 2 times further. If the second target is reached, we will have a 3:1 risk/reward ratio; if not we close the trade with a 1:1 risk/reward ratio.
3) When the first profit target is reached, we don't close any part of the trade, but we set the stoploss to breakeven and we target point A for example. If the trade is successful it can give us a 4:1 risk/reward or much more.
With a 4:1 risk/reward ratio, we need to have only 2 winning trades in 10 trades to break even.
Any ideas are welcome
"Do we enter a trade as soon of both levels are crossed?
Are there some tips to predict some extension of the CD leg?"
my exprience tells me to at least combine it with:
- multi-timeframe geometry
- Supply Demand
- stay with consistent approach (the same rules/steps all the time)
Harmonics Tube - daily trading setups based on harmonic patterns
Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
AMPmonitor - harmonic and price patterns recognition Scanner that I use
TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading
Fairly New to ABCD Trading but loving my results so Fair here is a useful free indicator I use ABCD Retracement Metatrader (MT4/MT5) Indicator. I just trade with support and resistance levels as opposed to Fib levels, I know thats not a purist but it seems to work for me. 2014-05-03_1149 - njodogg's library
Have somebody tried ABCD patterns on Tickmill EUR/USD pair? Spreads is only 0.2 pip, what frequency of trades you would advice me to carry on with?