In this article, we are going to present a very powerful tool for harmonic traders that turns trading into candy! The indicator of harmonic patterns of Forex and stock exchange that we have mentioned in this article is sold on similar sites with staggering prices of $ 249, which we have reduced to a great extent that all traders, even traders of Tehran Stock Exchange, can benefit from it. To become. So first let us briefly describe the harmonic patterns.
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What is a harmonic pattern?
Harmonic trading is a method that identifies points where the market is likely to return using special harmonic patterns of price and Fibonacci ratios. Of course, these patterns are not 100%, but if the harmonic patterns are identified correctly, they can provide very good opportunities for traders with the least possible risk.
The most important thing to realize is that specific price waves or movements are related to each other. At the same time, Fibonacci ratios and price patterns determine this relationship and provide a tool to identify price turning points.
A variety of harmonic patterns
Harmonic patterns are generally classified into the following six types:
1- Bat bat pattern
2. Gartley pattern
3- Crab pattern
4- Butterfly butterfly pattern
5- Cypher Cypher pattern
6- Shark shark pattern
Each of these patterns is fully explained in Scott Carney’s book Harmonic Trading.
Trading method with harmonic pattern indicator
Once the harmonic pattern is identified by the indicator, actions must be taken that may or may not lead to a trading position. Note that harmonic patterns alone do not have trading validity and can be continued to a large extent. Your job as a trader is to assess the validity of the patterns and guess the probable points of return of the market with the help of harmonic patterns. So you have to do it in the following order:
1- View harmonic pattern indicator warnings and find a pattern
2- Find the possible rotation levels of PRZ market with the help of Fibonacci tool
3- Waiting until the market reacts to the PRZ market rotation levels
4- Taking a trading position with a suitable loss behind the market turning point or PRZ
5- Transaction management
A few examples of trading with harmonic pattern indicators
Indicator of Forex and Stock Harmonic Patterns
Indicator of Forex and Stock Harmonic Patterns
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