What is harmonic chart pattern? Back to list

Member SinceJul 08, 2021

Posts 240


Nov 08, 2021 a 02:32
By identifying structures that have distinct and consecutive Fibonacci alignments, Harmonic Pattern quantifies and validates harmonic patterns. In these patterns, Fibonacci ratios are used to identify possible market reversals. Harmonic patterns or cycles are based on the assumption that, like other patterns and cycles in life, they repeat continuously. The key to identifying these patterns is to enter or exit a position based on the probability that the same price action will repeat itself.
The following is a list of commonly used chart patterns:
1. Bat
2. Butterfly
3. Gartley
4. Cypher
5. Crab
6. Deep Crab
7. Shark
8. 3 Drives
9. AB=CD
10. 5-0
The Potential Reversal Zone (PRZ) is a critical level of support/resistance for traders in their trading and price action strategies.

Member SinceAug 09, 2021

Posts 250


Nov 16, 2021 a 13:25
Harmonic patterns are a technical analysis tool that can be used to predict future price movements in a trend.  They are created by identifying the lowest and highest low of a given time period, as well as the lowest and highest highs.

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