Confluence
Confluence of Support or ResistanceA confluence of support or resistance is simply an intersection of two or more important levels. Market participants prefer to trade around a zone that involves two or more factors rather than a zone with just one. The probability of winning is higher around confluence zones.
Educational 11: Elliott Waves + Butterfly Pattern Confluence In the above chart, I have showcased a confluence or relationship between Elliott Waves and Harmonic Patterns. Where I have mentioned and pointed out time where they confluence and provide us a successful trading opportunities. Such confluence is simple to understand and provide a great reward over risk by initiating in them.
I have attested below edcuational chart of Butterfly Pattern and also a confluence between Elliott Waves and Head n Shoulder pattern for further reference.
I would appreciate your comments, charts and opinion on the same.
Regards,
Neetesh Jain
