These harmonic patterns aren’t reliable in the long run
UnknownUnicorn6129250
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@Tripathi07, thank you for your thoughts :) I do understand that harmonic patterns are not the end all-be all price structures. After or while any pattern is violated, or analysed incorrectly, it's important to look at the price action in the Potential Reversal Zones for signs, in the case of reversal patterns. Please share your thoughts / ideas too, it will be great to look at other ideas.
indani
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superb analysis
kskanth32
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Seems like ratios plotting is improper... Pls place them accurately on the candles OHLC .. Then any decision can be made
UnknownUnicorn6129250
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@kskanth32, thank you for your note :) I have plotted everything correctly as per H.M Gartley who has laid down the foundation of the Gartley Harmonic pattern in 1932. His statement was minor variation can be avoided and the price never follows the exact Fib ratio. I hope this assists...
kskanth32
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@evrsf, but isn't it obviously to be plotting on 4hrs and above TF???
Also minor variance can be avoided subject to exact plotting on candle close or high and not near to candle... As far as my under understanding it shd be plotted exactly on the candle and the ratio can have slight variation which is negligible...
UnknownUnicorn6129250
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@kskanth32, Thank you so much for your advice, i will see how this plays out and will keep your advice in mind when plotting again.