Most profitable harmonic pattern
Hi I'm new here.
Which harmonic pattern is generally considered the most profitable? Which is considered to have the highest win rate?
I understand good MM is essential, but say that MM is taken into consideration. Basically I want to start with just one pattern and learn that properly first.
there is no such thing like "most profitable" harmonic pattern. Pickup one that you understand and you like, and you will make it your most profitable pattern easily.
you may want to check this as well -> FOREX Harmonic Trading: how to master harmonic trading
About the win rate i commented several times on this forum. As you say MM is essential and depending on which MM you use you can have 99% win ratio or 10% win ratio, ... it has nothing to do with being profitable trader or not.
Originally Posted by kor4x
That makes sense. I was going to go with ABCD, but there seems to be a lot more posts and a lot more confidence around Gartley and Butterfly patterns. I took that to mean that they might be more profitable??
Last edited by Freeride; 12-18-2012 at 11:01 PM.
Check our content on the patterns. There is no other www site that presents the patterns so deeply, together with confirmation methods.
... then choose 1 pattern that you like/understand the most ... for the time being forget the concept of profitability.
Yes this is the best site I've found so far, definitely.
The more I read, the more I see that most of the patterns are variations on a theme, where the AB and CD intervals are the core feature.
Perhaps I could ask you if you would rank the patterns according to how frequently they appear. I imagine that 1-2-1 is very common and that a true Gartley is fairly uncommon, but I'd like to hear from someone experienced. Thanks.
Last edited by Freeride; 12-18-2012 at 11:54 PM.
there are a lot of them on the charts, ... doubt it's important if 121 is more common than Gartley :-)
btw: probably it is.
.. but the 121 I like to trade appears at the begining of the new trend (Wave1-Wave2), and as such is probably less common than Gartley.