Forex Bible Expert
Harmonic Trading techniques are relatively unknown in the investment industry. Many people might have difficulty believing that these methods are a valid means of trading Forex. However, my experience with the harmonic techniques has been truly incredible. These techniques have enabled me to decipher price action in markets that are incredibly confusing.
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Concepts
Harmonic Trading provides the keys required to understand the nature of price action. These techniques determine opportunities as defined by historical patterns and price movements that have been continually repeated. Based on such information, it is possible to identify highly probable opportunities in the financial markets that currently possess the same conditions. In essence, the Harmonic Trading approach provides a road map of where prices have been and where they potentially can go. Unless we understand this road map, we could very well be investing in the financial markets at a point that is near the end of its trip.Harmonic Trading provides the keys required to understand the natureof price action.
View items...Part I Fibos
the prevalence of phi and fib ratios in examples throughout nature and the universe overwhelmingly suggest that there is something very peculiar about this mathematical phenomenon. I want to emphasize that I am not any sort of mathematician, astronomer or astrologer. In fact, the first time that I studied this information, I was completely confused. But, as I researched these subjects more thoroughly, I realized that these numbers did possess unusual relationships to the universe. As I began to utilize these numbers in my trading, I realized that these numbers frequently occur in price charts on all time frames. So, the primary concept to grasp is that these numbers exist for a reason. As you begin to incorporate these numbers into your existing chart analysis, you will realize that these measurement techniques are effective tools in gauging price action.
View items...Part II Patterns
In my experience, when I initially utilized these techniques, I frequently resisted to execute at the numbers. For example, if I was long a stock, I usually held on for a greater profit, even if I knew that a pattern was indicating resistance. However, I quickly learned that such thinking costs money. As I employed these techniques effectively, my trading and understanding of price action improved tremendously. It is important to view these patterns as reliable signposts of future price action. They will guide you through very confusing markets. Quite often, the patterns will indicate a potential opportunity when the news in the media suggests otherwise. It has been my experience that the patterns are the most reliable indicators of price trends, and they are my fundamental basis for identifying trade opportunities.
View items...Part III Learning The System
Consistently profitable trading requires specific rules to define opportunities and to guide optimal executions. Trading rules prevent irrational behavior, such as an "impulse" trade. Impulse trading is really just guessing - that's it! I confess to my share of impulse trading. However, effective trading rules, as defined by the harmonic techniques, have provided me with a system that has proven itself over time. Although these methods do not yield a reversal every time, I believe that an excellent set-up - three or more numbers in the Potential Reversal Zone - will yield a profitable reversal seven out of ten times.
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