01-27-2013, 04:44 PM #1191
01-27-2013, 05:27 PM #1192
Yes, AMP should spot it and I see that my working version spots it more or less OK, ... but I am actually in doubt that AMPmonitor picked it up properly, as the current production version of AMP indicator is not too good with the extreem cases.
01-27-2013, 05:34 PM #1193
Hi Kor, thank you kindly for your reply, please can you post a screenshot of your chart if possible please? As I cannot see this is AMP monitor and I would like to learn. I will start this week looking for these patterns and your chart would really help if possible to share please? Thank you very much, PS great website is this your website? thank you
Originally Posted by kor4x
01-27-2013, 05:42 PM #1194
Kor, I got Scott Carneys book today, 'The Harmonic Trader' I really like it as it is easy to understand, well written and the charts and diagrams are very nice to read and understand for a beginner. I wonder if you like this book also and also if you have any favourite book for trading harmonics? I know that you have a lot of experience and thanks if you can share any ideas for book study
01-27-2013, 05:59 PM #1195
attached the EURUSD extreem butterfly pattern that AMP shows me at this moment
Originally Posted by Connected
01-27-2013, 06:02 PM #1196
excellent thank you for sharing your chart
01-27-2013, 06:07 PM #1197
Yes, there are couple of books about harmonic trading and Scott's books are OK ones. I actually disagree with number of diagrams inside as i would not classify them as harmonic according to my approach and analysis, but with his Fibonacci centric method, these should be proper. Yes book is well written and for sure good to start. When you read it please share your opinion, what you find good what you are missing there.
Originally Posted by Connected
Here are some other harmonic trading books listed -> Books on the Gartley pattern
Jim Kane and Pesavento are good writers as well.
Anyway, with harmonics there is no shortcuts. To master the method and to find what fits your psyche and what you will call harmonic and what not, this will take time. Also, harmonic trading or lets say Geometry trading works best (at least for me) when combined with other confirmation techniques. Check out these and examples, and pick up just some, these that make sense and work for you -> Gartley pattern - table of content (here are just for the Gartley pattern, but you can check the other sections for more).
01-27-2013, 06:24 PM #1198
great list of resources there thank you, I hope to watch the patterns this week and plan to eventually combine the harmonics trading with everything else that I have learnt so far, I think fully studying harmonics long term would be an excellent 'extra tool' to have in our trading arsenal! combined with pivots, candles, fibs, divergence, confluence zones and cycles I think that this could be an excellent addition in knowledge, the learning curve for patterns looks quite deep so I think I will begin with Gartley patterns and begin there. This is a great website thanks for sharing the excellent resources, I also am checking out your blogs very nice indeed thanks!
01-27-2013, 07:04 PM #1199
this is my current 4H chart, I am using ZUPv92 but think about try KorHarmonics this week, also this week I will study Gartley Bull and Bear patterns and Butterfly bull and bear patterns and learn to spot them on the charts, and possibly trade the pattern if confluence of other factors make it a high probability trade.
Last edited by Connected; 01-27-2013 at 07:07 PM.
01-27-2013, 07:28 PM #1200
was looking at the EU 4H bearish butterfly pattern and I would say at first glance that it is a little outside of the idea fib ratios for a bearish butterfly, can I ask in your experience Kor what do you think? AB should possibly be a .786 retracement of XA, BC should be a .38 or 0.88 of AB, and CD should be 1.27 or 1.618 extension of XA....Hmmm lets see how this one plays out! : )