Hi fellows, hope you are doing great with your trading. I wish you all the best for the coming week.
In my previous post I shared my observations with the expectations that the index will achieve higher levels in the coming days. Unfortunately, I had to take trades in the reverse direction, later in the week, in order to mitigate my losses. It is all part of...
NSE:HEROMOTOCO Weekly Chart: Hero just tested the 'D' level of AB=CD pattern (= 4100 zone) & facing resistance. Stock likely to test 0.618 of Fibo = 3236 level (Marked with white arrow). Bias remains bearish, But not safe to short as Risk Reward Ratio is not good here.
This pattern is different. As we observed in the previously discussed patterns, the C point never extended beyond point A. But this pattern is formed when C point extends beyond A.
Rules:
1. X-A: A strong leg which ends at an important Support/Resistance level.
2. A-B: Point B should be between 38.2 to 61.8% of X-A leg
3. B-C: The leg which makes this pattern...
Notes on the chart.
I ll try to put some examples..depends on response.
Do hit Like and comment.
Trade Safe, Be healthy.
Enjoy the weekend.
Regards
Bravetotrade
For a brief overview about harmonic pattern fundamentals, first go to the Post 1 of this series (link will be soon in the update section).
THE BUTTERFLY PATTERN
The pattern is recognized by the exclusive 78.6% of XA retracement at point B; and the 1.27 XA projection at point D.
X-A: A strong leg which ends at an important Support/Resistance level.
A-B:...
I thought these cypher, Gartley patterns are tough until I learnt it is based on fibonacci ratios. Draw fibonacci levels from X to A. Point B should not close above 0.618 fib level. The point C should form between A and B. Point D should not close above 0.786. Now lets see how to trade this Gartley pattern. Sell at 0.786 with the stoploss of few points above it....
Hi,
I am back with one more harmonic Pattern -- The CRAB
For a brief overview about harmonic pattern fundamentals, first go to the Post One of this series (link will be soon in the update section).
CRAB PATTERN
In the BAT and the Gartley the price action in the last leg did not stretch beyond the Point X but In this pattern last leg stretches beyond X. In...
Hi,
I am back with one more harmonic Pattern -- The Gartley
For a brief overview about harmonic pattern fundamentals, first go to the link in the update section.
GARTLEY PATTERN
X-A: A strong leg which ends at an important Support/Resistance level.
A-B: The most important leg to recognize this pattern. Should retrace exactly 61.8% of X-A.
B-C: Should...
Whenever Raman, one of my best friend, sits in front of Television and hears a Technical analyst he could not stop himself saying," ho sakta hai wahan tak chala jaye..neeche bhee aa sakta hai..oopar bhee ja sakta hai..bc..inko kush bhee pata nahi aur hame bevakoof bana rahe hain".
The psychological setup of people like him is so rigid that we can never convince...
BPCL: Harmonic BEARISH 5-0, Study Paper.
This pattern mainly used in FOREX. Though also useful for Stocks much depends on Forex movement.
Hence I choose BPCL.
Some Facts:
1. On the chart, we notice that the price originally directed upward from the point 0 to point X ( where the point 0, shall be located below the point A )
2. Further, the price makes a...
Sensex hits a historical high -32000 mark.
Do you remember bullish deep crab - No. Then definitely you remember 9643- No, Aha, then surely you must have used Killroy Pattern (Inverse Head & Shoulder) to your advantage - isn't that. Cheers to the Bulls.
What is Killroy
Killroy or Inverse Head & Shoulder Pattern as termed by "Edwards & Magee in Bible book-...
It is been observed on Daily chart that the price action is forming a harmonic ratio pattern called Bullish Shark Pattern. Now, I have shown two scenarios of the same chart where we can see retracement as per the chart measurments and pattern.
Retracement 1 (88.6%) - can been seen near 640 levels and Retracement 2 (1.13%) can be seen at 615 levels.
It is for...
Hi All,
Continue with Patterns :
Bat Pattern : XABCD are the point to be considered with following ratios
AB (fall) = 0.38 or 0.5 times XA (rise)
BC (rise) = 0.382 or 0.886 times AB (fall)
CD (fall) = 1.618 or 2.618 times BC (rise)
Interest point would be point D after completion of pattern as potential reversal zone (PRZ) , looking for buying...
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...
The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns. The bat pattern might look similar to a Gartley 222 Butterfly pattern but differs only minutely in terms of the Fibonacci ratios between the...
