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Thread: Interactive Trading Setups Disscussion

  1. #371
    axl
    axl is offline
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    hi Kor4x..just wanted to confirm are you using the Korharmonics+ v6.7.13 indicator?

  2. #372
    Wizard
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    i use Forex Harmonic Patterns | AMPMonitor and AMP indicator lite version. Sometimes, rare, korHarmonics 7.

  3. #373
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    @kor4x why did you close those trades before any of TP?

  4. #374
    Wizard
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    it's common decision point, if butterfly pattern works or fails. Note the trendline.

  5. #375
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    Quote Originally Posted by kor4x
    it's common decision point
    means what point exacly?
    Quote Originally Posted by kor4x
    if butterfly pattern works or fails
    is that was failed butterfly in your opinion?

  6. #376
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    yes, on the trendline break.

  7. #377
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    can you draw this trendline for better understanding?

  8. #378
    Wizard
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    sure, sorry, attached.
    Interactive Trading Setups Disscussion-bullish-butterfly-exit-reason-eurjpy-m30-2012-05-16_1915.png

  9. #379
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    Ok, but i still dont understand why you decided that this is a failed pattern. In earlier examples you have been waiting for TP2 and price also had breaking this trendline. I would understand closing after founding resistance at trendline without breaking it, you can see it clearly in PA, but you have closed trades exacly at touch of yours trendline and you couldnt know at that moment that price will found resistance, or am I wrong?

  10. #380
    Wizard
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    ahhh, I see your question point now. Of course i did not know that this pattern will fail. It would be strange to trade harmonics with such though in mind.
    We never know what the price will do. I am always prepared for a move up or down.
    It was just a good place to closing positions and locking the profit. Growing equity curves are built from closed winners :-)
    You have seen my equity curves (another thread), I take many trades on each pattern. Sometimes I exit in such moment like here and re-enter on another/next correction. However, in this case i did not do. There could be other resons for the exit, but i do not remember now. My trading is very flexible, no stict rules, psyche comfort is most important.

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