4.54 Harmonic Price Patterns for Trading Forex

Harmonic price patterns trading in Forex.

 

Harmonic price patterns take price patterns to the next level by using Fibonacci numbers to define precise turning points. Unlike other trading methods, be it Forex, stocks or any commodities, trading with harmonic patterns may also help to predict future movements. 

 

Harmonic trading combines patterns and mathematics into a trading method that is precise and based on the observation that patterns repeat themselves.

 

In later chapters we’ll be covering the following Harmonic Price Patterns:

Types of Harmonic Price Patterns.

It may all sound confusing, and believe us that you will find these confusing at the first glance, but whether you use these in your trading or not, there is no harm in knowing.

 

Among the types mentioned in the above diagram, the Three-Way-Drive pattern is an extension of the ABCD harmonic pattern and all the patterns named on animals' names are variations of Gartley pattern.

 

Harmonic patterns can estimate how long current moves will last, and they can also be used to pinpoint reversal points.

 

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