So you have probably heard about harmonic pattern trading somewhere along the lines during your research, and yes, it is a fantastic strategy for increasing your win rates and detecting high probability reversal zones.
What is a harmonic pattern you ask? Well, a harmonic pattern, is a pattern that is detected in price movement, which detects good reversal zones. It does this by using different features, one of which is Fibonacci retracement levels. (If this is getting too technical for you, don’t panic! you don’t need to know anything about Fibonnaci to use harmonic patterns!)
To give you an idea what a harmonic pattern looks like, I have included a screen capture below. The pattern flags up, and will give you not only an entry price, but also a stop loss, and two to three take profit levels.
Now, I am not saying you should jump into every pattern blindly, of course, more analysis is always advised, but these patterns are a great chance to identify the very best potential reversal zones for your own analysis.
In fact, if you were to use Andrew’s Pitchfork on these patterns, what you would find is that price would make it to the median line more than 80% of the time. (Again this is more advanced trading, but it gives you an idea of the success rates of these patterns)
So where can you get access to these patterns? Well, years ago, you had to literally identify the fib retracements yourself and draw them out by hand (It was a very complicated process!) However, now you can get amazing tools that do it for you! I am working with a company who have a fantastic ‘scanner’ which will scan the price charts for you, and draw the patterns, stop loss, and take profits for you!
Even better than this, you can sign up for free alerts, so you can use telegram, slack or web alerts so you don’t even need to be at your PC when a new scan comes in. That is high probability reversal alerts being sent direct to your smart phone!
Even better than that, if you sign up through THIS SPECIAL LINK, I have got you an exclusive first month discount of 50% on this amazing tool. It’s a tool I would not be without, and starts from just $19.99 per month ($9.99 first month!) and has a free trial as well.
So, ensure you head on over by clicking HERE, and get your harmonic pattern tool today.