Harmonic patterns trading ideas

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10/20/2020 at 9:09 AM #147851 quote

Keymaster

Master

Thank you ALE for the daily update about that possible setup on US stocks. I see that there are ‘target profit’ and ‘invalidation’ price levels, how does it works please?

10/20/2020 at 2:03 PM #147911 quote

ALE

Moderator

Master

Hi Nicolas,
Thanks for your comment. It is a pleasure.

Invalidation is the level considered to deduce whether the actual pattern is canceled. Tp1 and Tp2 are considered the profit targets of the pattern.
The levels are taken from the HARMONIC TRADING book – SIXFIGURECAPITAL.COM.
The figure on the daily time frame can remain valid for days, i.e. until the level of invalidation or the first target is reached by the price.
Usually I don’t consider the second target, because the first target can generate strong rebounds as show in the attached pic.
Thanks
Ale

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10/20/2020 at 2:25 PM #147914 quote

Nicolas

Keymaster

Master

Thanks for the detailed explanation, it is very clear. So, for a better understanding for people who are reading this topic, you are finding those patterns automatically? How does it work please? Never hesitate to explain what you have achieved with your coding knowledge 🙂 It could encourage people to learn programming and create great tools too! 😀

10/20/2020 at 2:44 PM #147920 quote

MAKSIDE

Participant

Veteran

@ALE

I think you have already tested harmonic pattern with an automatic strategy in order to reach TP1 for example ?

Thank you for sharing

10/21/2020 at 5:45 AM #147965 quote

ALE

Moderator

Master

Hello Makside
No, never used an EA for technical trading, also in this case the trades must be evaluated for a set of exogenous factors, such as bias, basic fundamental analysis, etc etc.

The appearance of the pattern can only confirm other factors, primarily my cognitive bias.

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10/21/2020 at 6:21 AM #147966 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today:

Time	Market	Name	Pattern	Direction
06:57.52	Shares – XETRA	Deutsche Lufthansa AG	Gartley	Bearish
06:57.54	Azioni – Sud Africa	Tiger Brands Ltd	Gartley	Bearish
06:57.55	Shares – XETRA	Leoni AG	Butterfly	Bullish
06:57.59	Shares – XETRA	B+S Banksysteme Aktiengesellschaft	Bat	Bearish

Regards

Ale

PLermite thanked this post

AutomaticTrading-Harmonic_Pattern-2020-10-21_07-03-23.jpg

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10/22/2020 at 7:09 AM #148042 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today :

Date	Time	Market	Name	Pattern	Direction
2020-10-22	7.15.50	Azioni – US (NASDAQ)	CBTX Inc	Gartley	Bearish
2020-10-22	7.15.51	Azioni – US (NASDAQ)	Asure Software Inc	Gartley	Bearish
2020-10-22	7.15.52	Azioni – US (NASDAQ)	Intellicheck Inc	Bat	Bearish
2020-10-22	7.15.53	Azioni – US (NASDAQ)	Arrowhead Research Corp	Gartley	Bearish
2020-10-22	7.15.54	Azioni – US (NASDAQ)	Spectrum Pharmas Inc	Butterfly	Bullish

Regards
Ale

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10/22/2020 at 1:57 PM #148087 quote

MAKSIDE

Participant

Veteran

Do you know what is the number of invalitated signals ?

difficult to assess but what is the average time to reach the target profit ?

i followed some patterns and very often, not the right direction.. 🙂

10/22/2020 at 4:55 PM #148109 quote

ALE

Moderator

Master

I have never done backtests, I have always used them for confirmation. I believe they should be used only at the discretion.
There are many factors that contribute to the price movement, the pattern must always be used in order to confirm the market sentiment. As I said earlier, it is rational to use patterns by contextualizing them.
Thanks

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10/26/2020 at 6:30 AM #148456 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today :

Date	Time	Market	Name	Pattern	Direction
2020-10-26	7.15.50	Azioni – US (NASDAQ)	Lakeland Financial Corp	Gartley	Bearish
2020-10-26	7.15.50	Azioni – US (NASDAQ)	Bank OZK	Bat	Bearish
2020-10-26	7.15.51	Azioni – US (NASDAQ)	People’s United Financial	Gartley	Bearish
2020-10-26	7.15.51	Azioni – US (NASDAQ)	Tilray Inc	Gartley	Bearish
2020-10-26	7.15.51	Azioni – US (NASDAQ)	Atlantic Cap Baneshares	Butterfly	Bearish

Thanks
Ale

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10/26/2020 at 1:47 PM #148510 quote

Francesco

Participant

Veteran

Thank you for the continuous updates ALE 🙂

ALE thanked this post

10/27/2020 at 6:32 AM #148611 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today:

Date	Time	Market	Name	Pattern	Direction
2020-10-27	7.15.50	Shares – Mib	Avio SpA	Bat	Bullish
2020-10-27	7.15.50	Shares – LSE	Purplebncks Grp PLC	Gartley	Bullish
2020-10-27	7.15.50	Shares – LSE	Jet2 PLC	Bat	Bearish
2020-10-27	7.15.50	Shares – LSE	Sainsbury (J) PLC	Gartley	Bearish

(These days the market is bearish due to the pandemic, and general uncertainty. I am flat, waiting for opportunities to buy).
Regards
Ale

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10/29/2020 at 11:44 AM #148882 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today:

Date	Time	Market	Name	Pattern	Direction
2020-10-29	8.08.10	Shares – XETRA	Paion AG	Bat	Bullish
2020-10-29	8.08.11	Shares – LSE	Xtrackers FTSE 100 Short Daily Sw…	Bat	Bearish
2020-10-29	8.08.12	Shares – LSE	Babcock Inti Grp PLC	Bat	Bullish
2020-10-29	8.08.13	Shares – XETRA	Vonovia SE	Bat	Bullish
2020-10-29	8.08.14	Shares – LSE	Land Secu Grp PLC	Gartley	Bullish
2020-10-29	8.08.14	Shares – LSE	Aviva PLC	Butterfly	Bullish

Thanks
Ale

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10/30/2020 at 6:41 AM #148962 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today:

Date	Time	Market	Name	Pattern	Direction
2020-10-30	6.25.09	Azioni – US (NASDAQ)	The ExOne Co	Gartley	Bullish
2020-10-30	6.25.09	Azioni – US (NASDAQ)	The RealReal Inc	Bat	Bullish
2020-10-30	6.25.09	Azioni – US (NASDAQ)	FibroGen Inc	Gartley	Bullish
2020-10-30	6.25.09	Azioni – US (NASDAQ)	Harpoon Therapeutics Inc	Gartley	Bullish
2020-10-30	6.25.09	Azioni – US (NASDAQ)	Gilat Satellite Networks Ltd	Butterfly	Bearish

Thanks
Ale

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11/02/2020 at 7:18 AM #149238 quote

ALE

Moderator

Master

Hello Guys,

here below the Harmonic patterns detected today:

Date	Time	Market	Name	Pattern	Direction
2020-11-02	06:57.55	Azioni – US (NASDAQ)	Riot Blockcham Inc	Bat	Bullish
2020-11-02	06:57.55	Azioni – US (NASDAQ)	Aspen Grp Inc	Bat	Bullish
2020-11-02	06:57.55	Azioni – US (NASDAQ)	Service Properties Trust	Gartley	Bullish
2020-11-02	06:57.55	Azioni – US (NASDAQ)	MediWound Ltd	Bat	Bullish
2020-11-02	06:57.55	Azioni – US (NASDAQ)	Verrica Pharmas Inc	Butterfly	Bullish

These days there will be a lot of volatility, the structure of the harmonic patterns always involves a reversal, but these days it is very dangerous.
Regards
Ale