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Harmonic pattern indicators
The main technical indicator for harmonic trading is the Fibonacci retracement tool. It is used to verify every wave within the pattern, as well as highlight potential profit targets once the pattern has completed.
People also ask
How accurate is harmonic pattern trading?
Harmonic trading can be seen as high-probability trading. Harmonic patterns are more reliable in M30 and higher timeframes. The general win/loss ratio of harmonic trading strategies is above 70%.
Is harmonic pattern bullish?
If a series of harmonic patterns indicate that the market is on an upswing, bullish traders might use this insight to take a long position on their chosen market, in order to profit from any upturn.
How to confirm harmonic pattern?
There are three basic steps in spotting Harmonic Price Patterns:
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Step 1: Locate a potential Harmonic Price Pattern.
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Step 2: Measure the potential Harmonic Price Pattern.
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Step 3: Buy or sell on the completion of the Harmonic Price Pattern.
What is the most profitable harmonic pattern?
The Gartley, bat, and crab are among the most popular harmonic patterns available to technical traders.
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