Results 1 to 6 of 6
Like Tree2Likes
  • 1 Post By Samtastico
  • 1 Post By kor4x

Thread: Potential PRZ Failure Signs

  1. #1
    Senior Member
    Join Date
    Mar 2012
    Posts
    182

    Potential PRZ Failure Signs

    In trading we focus so much on trade confirmation that I feel we neglect this very important topic ... " What are the sign that a PRZ might fail?" after all we are in the game of managing risk.

    I Have noticed a few signs that a PRZ might fail which I have mentioned in the below video but I would like to also know any that you have come across.

    Marek Krajecki likes this.

  2. #2
    Member
    Join Date
    Apr 2013
    Location
    A, A
    Posts
    50
    Blog Entries
    1
    Thanks for the video , very useful.
    I will watch currency indexes to see what strenght certain currency have.

  3. #3
    Wizard
    Join Date
    Oct 2011
    Location
    A, A
    Posts
    2,576
    first try to list all the ways to define/confirm the PRZ and start from there
    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

  4. #4
    Wizard
    Join Date
    Oct 2011
    Location
    A, A
    Posts
    2,576
    Let’s assume that PRZ is calculated properly for a given pattern (coming from a given timeframe) ... IMHO the most of PRZ failures in such case are are due to dominance of another timeframe.
    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

  5. #5
    Senior Member
    Join Date
    Mar 2012
    Posts
    182
    Okay for example. I use the following confirmation techniques.
    1. Pattern location
    2. The speed moves out of point X
    3 Supply and Demand zones at point D
    4 Fibonacci convergence of course.
    5. Time of Entry - eg UK. US open/close
    6. Price action as it passes into the PRZ but I have usually entered by then so its something that confirms the move for me.
    7. News - I always like to know what news is around at the time I am looking to enter.

    I think an example of what Kor was saying is that if you look to enter into the a trade around say NY open and its still hasnt shown any significant price action lets say by the end of the
    London session this is one of your confirmation techniques that has been violated .

    Is that what you are hinting at Kor or have a missed the mark a little there?

  6. #6
    Wizard
    Join Date
    Oct 2011
    Location
    A, A
    Posts
    2,576
    Quote Originally Posted by Samtastico View Post
    Okay for example. I use the following confirmation techniques.
    1. Pattern location
    2. The speed moves out of point X
    3 Supply and Demand zones at point D
    4 Fibonacci convergence of course.
    5. Time of Entry - eg UK. US open/close
    6. Price action as it passes into the PRZ but I have usually entered by then so its something that confirms the move for me.
    7. News - I always like to know what news is around at the time I am looking to enter.

    I think an example of what Kor was saying is that if you look to enter into the a trade around say NY open and its still hasnt shown any significant price action lets say by the end of the
    London session this is one of your confirmation techniques that has been violated .

    Is that what you are hinting at Kor or have a missed the mark a little there?
    ad1. this is key, harmonic pattern location is much more important than it's ratios confluence
    ad2. yes
    ad3. yes
    ad4. yes, of course
    ad5. time of entry, I do not use this one, I do not actually care if we are in the UK, US session
    ad6. this means how fast price enters the PRZ zone
    ad7. yes, no entries for me when News around
    Samtastico likes this.
    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

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41