Thread: Interactive Trading Setups Disscussion

Originally Posted by swestendorf

so where do you set your entry?

Will Wait and enter when the divergence is created... I lost a lot before because I entered too early and I just didn't want to miss the trade... But now my opinion is that I prefer missing a trade than entering too early... For this trade hope that I can enter ~ 1.563...

Regards

Originally Posted by swestendorf

i wish there was more confirmation

It might work due to a good resitance coming up, but in my oppinion
1. the gartley has already completed and performed to at least TP1 from the XA-78.6fib+ABCD level
2. that gartley/this gartley has an AB retracement to C > 90% would say a double bottom, or close / at least exceeds the harmonic pattern rules (wick could be an argument, but a wick on a daily is a candle on a lower TF)
Well, at least to be caucious, the S/R level at X is not bad at all for sure.

Also an ABCD to complete in the 157.4 area a bit above the next resistance level.

Originally Posted by abdelaziz46

Will Wait and enter when the divergence is created... I lost a lot before because I entered too early and I just didn't want to miss the trade... But now my opinion is that I prefer missing a trade than entering too early... For this trade hope that I can enter ~ 1.563...

Regards

Abdelaziz, I might recommend 2-3 readings regarding entry styles and trade management, which might help in this respect:
1. S. Carney - The harmonic trader (from p. 247 onwords)
2. S Duddella - Trade chart patterns like the pros (pp. 69-90, just somewhat different approach , not long and not heavy)
3. S Carney - Harmonic trading vol1 - Profiting from the natural order of financial markets...(2010, from p 170 on)
At least these are the ones I found useful for myself in the early entry respect, and also started me thinking of why some perfect harmonics fail and others perform superb... there are of course more good books to help, but it should be a good resource to start with in my opinion.

Originally Posted by lobogabor

Abdelaziz, I might recommend 2-3 readings regarding entry styles and trade management, which might help in this respect:
1. S. Carney - The harmonic trader (from p. 242 onwords)
2. S Duddella - Trade chart patterns like the pros (pp. 69-90, just somewhat different approach , not long and not heavy)
3. S Carney - Harmonic trading vol1 - Profiting from the natural order of financial markets...(2010, from p 170 on)
At least these are the ones I found useful for myself in the early entry respect, and also started me thinking of why some perfect harmonics fail and others perform superb... there are of course more good books to help, but it should be a good resource to start with in my opinion.

Thanks a lot for your help... I only red Hamonic Pattern by Scott Carney and didn't know the other books... I will have a look... Thanks again

Regards

Regarding books on harmonics patterns trading you may want to check also this list here: Books on the Gartley pattern

sell ?

usdindex :
evening star daily

pls can someone illustrate how i am to use the fibonacci channel.seem like i need to add some levels and i also want to know the best way to place it on the chat.i only have levels 0.618, 1, 1.618 and 2.618