Comments on: Classifying the harmonic patterns http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/ Aiming for the trader's success, by creating awareness of the 3M's: Mind, Money & Method by Sunil Mangwani, CEO at FibForex123 Sat, 21 Nov 2009 22:35:34 +0000 http://wordpress.org/?v=2.5.1 By: Arvind http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/#comment-1113 Arvind Mon, 04 May 2009 10:09:50 +0000 http://blogs.fxstreet.com/forexology/?p=134#comment-1113 Thanks Sunil for for the link you posted in today's webinar. Thanks Sunil for for the link you posted in today’s webinar.

]]> By: Sunil http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/#comment-357 Sunil Thu, 05 Feb 2009 13:04:23 +0000 http://blogs.fxstreet.com/forexology/?p=134#comment-357 Hi Pierre, First & foremost, I apologize for the late (very late -:) response to your comments. The reason was that I was looking to post certain charts showing exactly what you pointed out. But in the meanwhile, before it gets delayed to the next year -:)), I want to make a few observations...which I am sure you will agree with. I do follow your blog posts & one factor that we both have in common is we don't use indicators at all. This is saying a lot & I do hope that the traders who follow these blog posts, notice this important point. It is price which is the ultimate indicator and if one learn to read the price movement, you really don't need anything else. Which brings me to your point of the "repeating patterns". These patterns along with patterns such as "measured channels" occur all the time and trader can definitely get an edge by following such patterns. I will post a couple of charts based on these, which should give the traders a better idea of looking at the price action....only. Thank you for bringing up this topic. Regards, Sunil. Hi Pierre,
First & foremost, I apologize for the late (very late -:) response to your comments.
The reason was that I was looking to post certain charts showing exactly what you pointed out.
But in the meanwhile, before it gets delayed to the next year -:)), I want to make a few observations…which I am sure you will agree with.
I do follow your blog posts & one factor that we both have in common is we don’t use indicators at all.
This is saying a lot & I do hope that the traders who follow these blog posts, notice this important point.
It is price which is the ultimate indicator and if one learn to read the price movement, you really don’t need anything else.
Which brings me to your point of the “repeating patterns”. These patterns along with patterns such as “measured channels” occur all the time and trader can definitely get an edge by following such patterns.
I will post a couple of charts based on these, which should give the traders a better idea of looking at the price action….only.
Thank you for bringing up this topic.
Regards,
Sunil.

]]> By: Pierre Charlebois http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/#comment-342 Pierre Charlebois Thu, 22 Jan 2009 01:31:33 +0000 http://blogs.fxstreet.com/forexology/?p=134#comment-342 Hi Sunil. Thanks for posting this pattern system in such detail. Some interesting patterns on the EUR/USD. I'm sure you would have some interesting observations to make about them. Please have a look at my last two posts. http://blogs.fxstreet.com/disciplined/2009/01/21/eurusd-repeating-patterns/ http://blogs.fxstreet.com/disciplined/2009/01/21/eurusd-on-watch-to-confirm-trend-reversal/ Cheers Pierre Hi Sunil.

Thanks for posting this pattern system in such detail.

Some interesting patterns on the EUR/USD. I’m sure you would have some interesting observations to make about them.

Please have a look at my last two posts.
http://blogs.fxstreet.com/disciplined/2009/01/21/eurusd-repeating-patterns/

http://blogs.fxstreet.com/disciplined/2009/01/21/eurusd-on-watch-to-confirm-trend-reversal/

Cheers

Pierre

]]> By: Sunil http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/#comment-339 Sunil Tue, 20 Jan 2009 15:28:44 +0000 http://blogs.fxstreet.com/forexology/?p=134#comment-339 Hello BobD, While the harmonic patterns are certainly effective, one must look at the overall trend to get a confirmation. The moving averages plotted on your chart, are indicating a bullish move and one must keep this in mind. In this Gartley pattern, price seems to have followed the fib levels quite precisely and in such contradicting situations, it is the trade management which would enable a trader to minimize the risks. One way of looking at it, is to designate the expected target levels of the Gartley & take profits as & when these levels are met with. In this way, even if price reverses for some reason, you should have walked away from the trade with some profits. Sunil. Hello BobD,
While the harmonic patterns are certainly effective, one must look at the overall trend to get a confirmation.
The moving averages plotted on your chart, are indicating a bullish move and one must keep this in mind.
In this Gartley pattern, price seems to have followed the fib levels quite precisely and in such contradicting situations, it is the trade management which would enable a trader to minimize the risks.
One way of looking at it, is to designate the expected target levels of the Gartley & take profits as & when these levels are met with. In this way, even if price reverses for some reason, you should have walked away from the trade with some profits.
Sunil.

]]> By: BobD http://blogs.fxstreet.com/forexology/2009/01/19/classifying-the-harmonic-patterns-2/#comment-337 BobD Tue, 20 Jan 2009 00:58:12 +0000 http://blogs.fxstreet.com/forexology/?p=134#comment-337 Thank You. Bearish Gartley on the QQQQ to occur? http://www.StockSharePublishing.com/ChartLib/QQQQ_01_19_19_49_1232412592.png Thank You.
Bearish Gartley on the QQQQ to occur?
http://www.StockSharePublishing.com/ChartLib/QQQQ_01_19_19_49_1232412592.png

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