EeZeeTrader replies to: Harmonic trading-harmonic patterns

Sajidhelp is right in his recommendation.
I would add, start your practicing with the simplest equal moves and/or AB=CD patterns.
Concerning Harmonic pattern Indicators, there are many out in the wilde..
You might want to check a rather old, but still not obsolete review here:…e_WWWilde_2015

Metaquotes Market has the latest ZUP v152 new Harmonic indicator, Fibonacci, Elliott wave, Pesavento, Andrew’s Pitchfork and what not now!…#!tab=comments

New additions to the indi include (among many other changes)
– Ability to mark Elliott waves on different levels
– GUI for changing the settings for the indi, as well as check and even modify/create patterns of your choice
– ZigZags are included in the indicator, those are not required as additional files.

Really many changes and improvements.
MZZ channels, merril patterns.. there is no end to the list one can use, and the GUI made the settings easier, friendlier.

Concerning the ever evolving patterns hitting the stop loss:

Try to think of the price candles not repainting ! Sounds funny for me, so anything, even your hand drawn supply and demand or trend lines probably had to be redrawn and you have to be careful what you pick as a likely successful entry, and what you do not even try.
Try to think of a five point harmonic pattern, or even and AB=CD and the versions of these.
As an example, take a Gartley harmonic pattern. What happens, when the gartley fails?
You probably start looking for crab into the same direction, but now instead of the D= 78.6fib of XA, you start checking the D = 161.8 XA of the same gartley triangle, and all the internal fib relations for a valid crab.
An other option I could think of, but sounds very impractical and will generate more loss than profit, one could theoretically draw a PRZ (potential reversal zone) from the gratley 78.6 all the way to the last level for a valid crab into the same direction. That is definitely a way to fail, however no repaint is required in that case, simply take a gartley and a crab pattern, as one pattern.. and possibly fail due to enormous losses.

For anybody interested in the ZUP harmonic indicator, the version 152 of ZUP, and having problem with understanding the parameter description in Russian, here is a list of ZUP parameters in English.

Leave a Reply

Your email address will not be published. Required fields are marked *