Can be Harmonic Formation strategy accurate?
Harmonic Formation strategy accuracy
On my blog you can very often found harmonic formations. I always keep my follovers in the forefront, most often even when the formation is just about to have time to analyze and validate it well. There have been many written about the performance of harmonic formations. The truth, however, is that if the trader is patient, you can wait for a PRZ test and create a trade signal in the form of a reverse sirloin formation, then it can be very successful. To prove these theory, you can look at a specific case this week. EUR/USD, came after the formation of a crab formation, which is typical of its extreme expansion of CD movement, reaching a level of 161.8. An hourly chart of gold created just such a formation, with a reversed candy formation two bar reversal created in this zone, to which we responded by opening a short position. Another important aspect of harmonic formations is money-management. Therefore, we have a stop-loss level at the recommended 61.8 percent of the bull impulse. Worlds wonder, the market almost exactly on the pip reached this level and the successful trade, so it was realized in a ratio of RRR 1: 3.
Harmonic formations are an advanced technique, but if you have enough patience and you are confident in sirloin formations, there is nothing to prevent you from starting a successful business strategy. After all, you can find more recent proof here.