My Harmonic Journey
I have just started using Harmonic patterns. For the past month these patterns have been very profitable with confluence with Supply and demand pivot levels. Here is an example of a trade i took minutes ago. Any feedback would be greatly appreciated.
Last edited by bunda_king; 11-03-2011 at 07:47 AM.
Final Profit taken at supply plus bearish engulfing pattern and a slow down in liquidity.
nice one bunda king! an interesting idea to look at pivot lines, I used them long time ago and I've almost forgot about them :P
supply/demand levels are great, but I see you use indi for it? I used to use indi too, but last time I finally got a conclusion: the more indicators are on my chart, the less I see.
So now after looking on Sam Seidens videos I try to draw them manually, it really helps to "feel" the price action.
I will definitelly follow your thread
Hy budda, i have entered in the same point as you, but i moved the sl manually, until 1.3794, it seems to me that you have closed on the 100 fib ratio, is that right?
yes I do try to take some profit at Supply and demand levels, but a great way is take profit at fib levels. I best thing is to draw them manually, but I just use the indi as a reference.
Last edited by bunda_king; 11-04-2011 at 03:11 AM.
Late entry but here is a trade I took DEMAND + Harmonic pattern. By the way I am not cherry pic trades. I will also show my losses.
Doing a proper analysis of price action will allow you to be able to enter in late with minimal draw down.
Did not enter my full position on first entry so I scaled in more at 1 min demand + 38 fib level and trend line confluence. There was not a Harmonic pattern but took it anyway.
Last edited by bunda_king; 11-04-2011 at 03:39 AM.
Rule # 1 MAKE MONEY
Rule # 2 MAKE MONEY
Rule #3 DON'T GIVE BACK THE MONEY YOU MADE
Entry - Supply n Demand + pattern
Stop loss 6 pips on the other side of my supply zone. Looking for at least 3:1 lets see what happens.
Last edited by bunda_king; 11-04-2011 at 05:34 AM.
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