As you may have guessed, profiting off Harmonic Price Patterns is all about spotting those “perfect” patterns and buying or selling on their completion.
There are three basic steps in spotting Harmonic Price Patterns:
- Step 1: Locate a potential Harmonic Price Pattern
- Step 2: Measure the potential Harmonic Price Pattern
- Step 3: Buy or sell on the completion of the Harmonic Price Pattern
Following these three basic steps, you can find high-probability setups that will help you grab those oh-so-lovely pips.
Let’s see this process in action!
Step 1: Locate a potential Harmonic Price Pattern
Oh wow, that looks like a potential Harmonic Price Pattern!
At this point, we’re not exactly sure what kind of pattern that is.
It LOOKS like a three-drive, but it could be a Bat or a Crab…
Heck, it could even be a Moose! 🦌
In any case, let’s label those reversal points.
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