Thread: Harmonic Journal

A little higher than 127, i ve entered at 1.8432, placed sl at 18760, i know it's not a good r:r but the price was already at the second tma band, plus it was a 4h tf resistance from 8 feb. so i thought that price wouldnt go higher than that... in fact it didnt

Originally Posted by kor4x

btw: note the internal ab=cd inside the CD swing.
so even if you took SL on your first trade you could have a good reason to re-enter again.

I've noticed that internal AB=CD but it was not completed. I wanted to re-enter when butterfly completes but he never reached 1.27XA level which is i think makes butterfly, or am I wrong?

@drapichrust: according to my personal rules, the tradable butterfly does not have to reach 127% for XA retracement. There are beautiful butterflies with 113% retracement.
In this case we had several geometries, and ab=cd and 113% so it was the geometric opportunity for the Short trade.

also, it was 113 of xa and 192 of bc, and i've noticed that 192 it's a very good reversal point for butterflys

@kor4x Iam confused... what if you entered on 1.13XA with SL on 1.27XA, got stopped because price goes higher, would you reenter again?

p.s. sorry for double post

@darpi: one more comment after i had a look at your Harmonic Journal
i got an impression that you care too much about Fibo price relations and not enough on the time relations. For me harmonic pattern is a pattern that looks beautiful for the eyes.
Fibo price is not enough.

@korax, how exactly do you measuring time? only with eyes? or fibonacci time zone?

@kor4x I try to care bouth time and price relations, can you tell what kind of time relations you looking at?
@kidrock82 thx, for insight

I starting to realise that that all just a matter of experience from long observations than theoretical patterns as they say...