Hi sir, how you are calculating stoploss and targets.
edonline
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hi. here length BC not equal to 38% or 0.866. here BC=0.618 only.i think it doest satisfy rules.can u kindly explain if possible
c0dchef
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@edonline, It is okay if it is in between, 0.382-0.886. It should not exceed 1 and should not be less than 0.382 or around that number. I go by this rule and draw my charts. They work standard most of the times. You can go through my charts and let me know if you find any correlation in drawing charts out of the perfect standard retracement rules of Harmonic patterns and they fail to work. I mean I don't keep a track of the retracements as long as they don't break the rule I mentioned above. Thanks for pointing it out, I'll note this from now on. When I started learning Harmonics, I was trying to follow perfect retracements and couldn't find any patterns that matches the exact same numbers because it is highly unlikely from what i've seen to find perfect patterns all the time. Then, by time, I got to learn that they work until they don't exceed 1 and not too small for BC. Cheers.
edonline
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@c0dchef, many thanks for ur reply. i thought harmonic patterns will work only if it satisfies all its rules 100% correctly.for u if it is working (BC around no 1) means then i shall also analyse and take it account.once again thank u