1) Tp1 = Fib 38.2 2) Tp2 = Fib 61.8 3) Stop = MAX Tp1 ( as pips) 4) Open order with %2 Risk Management 5) Close Half at TP1, Stop to BreakEven 6) Close all at TP2
Komen
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Dont Forget dears!!!!. Formation is completing when the price is coming to D point, You must not enter to trade until it comes to D point by Harmonic analyses, but if you have a anoter analyses, you should also enter to trade from A to B, B to C, C to D. But I just use Harmonic strategy. When price comes to D point, When formation is complete at D point. Test it with Demo account before use..
Komen
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And for a easy remember My blue pattern sharings are Cyher Pattern My red pattern sharings are Bat Pattern My Green pattern sharings are Gartley Pattern
Cypher is not harmonic. It doesn't incorporate ab=cd or alternative ab=cd and it doesn't use primary or primary derived fibonacci ratios. If you want to learn more about harmonic patterns just visit the official website of Scott Carney. For advanced patterns rules of engagement you can visit my website (you will find the link on my profile page).
MANOLIS
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@Alexander_Nikitin, I agree!!
the main pattern is Gartley all the others are variants crab-buttefly-bat etc etc.
Happy Trading!!!!
FxCanli
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@Alexander_Nikitin, it is not good that you make your advertisement at my page..
Alexander_Nikitin
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@FxCanli, It is not an advertisement, it is positive criticism and some hint on where a reader might get the true information. You should admit that you were wrong and use the information I provided to develop your skills and enlarge your knowledge. Staying stubborn and offended you won't develop. No development, no success....
Alexander_Nikitin
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@FxCanli, By the way, Scott Carney is the Developer and Founder of Harmonic approach. I am not anyhow affiliated to him...
FxCanli
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@Alexander_Nikitin, I had a big respect to Scott Carney, I dont say that am the founder or Developer of Harmonics, But I made a backtest of different Harmonic patterns Profit and Stop ratios, and this one is best that I found(FOR ME). I made a live backtest at 2016. and you can see the results at my web page under the performance side. I made 11.658 pips at 2016.. you can see them at my web page and at my past twitts at my twitter account ( I share tham live at twitter, like what I am doing at TV). But I dont see any excell sheet of your past performances. or myfxbook or mql5 results.. but I saw that you are trying to sell something to people. you are traying to sell scripts, you are a SELLER. I am not selling indicator, I am not selling hope, I am not selling Script... I share this analysis. I share this education stuff because this is what trader want it from me. Because when I share Harmonic analysis, traders ask me What is the target, what is the stop. I dont want to make people lazy, couse of that I am not sharing profit and stop at the charts. and I share, what I use for Profit and Stop at that chart you see. And it was proved my self at 2016. Couse of that I like this system. If you test it, and if you have a better one, feel free to share it also. people will test it also, I will test it also, But the man Who is SELLER a of SCRIPTS will not develop me and will not make me more success. I had a lots of free education videos at my youtube channel from 2016, they were Turkish. and at 2017 our goverment change the Leverage 1/100 to 1/10 and it makes me unhappy. Couse of that I start the share my charts at TradingView. I am here for sharing my analyses, not making gossip with other. Couse of that I will not answer you again.. you can write what ever you want. it doesnt mean that I accept what you write..Proof your self with your analyses. now with Advertisement at my page. Have a nice trade...
Alexander_Nikitin
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@FxCanli, if you'd read what is written on my website in about me section, you would notice that I created the scripts and indicators to do the research work. I have a pretty good understanding of advanced patterns and harmonic patterns because my software finds thousand of historical examples in two-three seconds. I have done the testing of hundreds of thousands of setups both manually and programmatically. I share some pages on the website as well. I am pretty confident that my results are useless for any other trader because my style of trading is unique. I am sure that no trader can repeat my style to the letter. Mosty beacuse he doesn't have my software or/and he doesn't know my algorythm of finding the patterns.
If you would read the home page of my website you'd understand the drawbacks of manual backtesting. You can also visit my Youtube page and watch me doing the realtime analysis and backtesting. You could also click "learn the patterns" tab and get access to the pattern's rules absolutely for free. Don't even need to register. So my website is absolutely free educational resource that contains technical and psychological articles.
You can also go to my profile page here on TV. I am posting ideas here for more than 3 years!!. Everybody can learn from them. Just go and check them out.
Sencerely, I just wanted to help you a bit by pointing to the fact that you don't know the difference between advanced patterns of Tradeempowered and harmonic patterns of Scott Carney. Without knowing this difference you could probably identify patterns as harmonic and trade them as advanced and visa versa.
No doubt, you did a great work backtesting possible variations of entries stops and targets but did you do the same amount of work that Scott Carney or Tradeempowered did? By the way, both of them used programmatical approach in their market research works. I think they already found the best levels. So, instead of re-inventing the wheel you'd better learn the original approach directly from either Scott Carney or Tradeempowered (whatever you'd prefer).
I was in your shoes, mate. I thought that I was the smartest fellow on Earth and I did the testing of patterns mixing them to my taste. I had extremely perfect examples of backtest applying my own rules, but the truth was that I was finding less than 100 examples per pair.
Only when I finished the algorythmic backtest finding hundreds of thousands examples... Only then I have understood that the original rules were the best. This way I finished the circle and came back to the point I have started from. I came back to original rules.
I just wanted to protect you from repeating my mistakes. First get the original knowledge of patterns, learn all original details of both approaches, don't mix them up.
Maybe, you are a bit angry with me about my effort to help you without your permission, but sooner or later you will change you views. I hope it will be sooner than later.
elalexandrade
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Thanks
adajab
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the butterfly formations the fibos are traced the same as the bat......??