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Thread: benefits and advantages of Harmonic patterns trading

  1. #1
    Join Date
    Oct 2011
    A, A

    benefits and advantages of Harmonic patterns trading

    We have started new mini project to discuss and conclude on:
    the benefits and the disadvantages of the harmonic patterns trading

    The list of Benefits:
    1. Method offers excellent Reward:Risk ratio.
    2. Leading indicator, projects future price move direction in advance.
    3. Used on any Forex pair or market
    4. Used on any timeframe
    5. News independent
    6. Well defined price patterns structures
    7. Help to see kind of order in the market
    8. High probability setups
    9. Clearly defined pattern invalidation level (important for SL placement)
    10. point D is the market decision point. Price will move strongly from D, or in the direction indicated by the pattern, or opposite (pattern failure). Anyway, it's high probability to have a strong move.
    11. HT method is easy to combine with other trading methods (Elliott Wave theory, Pivot points, MACD, Stochastic, RSI, divergences, volume, Supply/Demand, candlestick formations, cycles and timing methods, grid and various money management techniques)
    12. Perfectly fits to the traders law: "Buy low, sell high".
    13. Trend reversal forecasting capability
    14. Technical, mechanical method, can be programmed, automatized. Free and commercial indicators available.
    15. Combines price patterns with Fibonacci ratios.
    16. Harmonic patterns occur frequently.
    17. Harmonic patterns usually create a very tight potential trade area.
    Last edited by kor4x; 09-15-2013 at 08:11 PM.
    kidrock82 and jose_wijaya like this.

  2. #2
    Junior Member
    Join Date
    May 2015
    Balanced trade is working at any time frame – interday, day, week or monthly chart. The best opportunities appear at day charts for trade with rollbacks. This methods works well with long term charts.
    kor4x likes this.

  3. #3
    Join Date
    Oct 2011
    A, A
    the higher TF the better R:R, since the entry is very precise.
    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

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