Profitable harmonic pattern trading?

<p>Basically harmonic trading relies on Fibonacci levels and the sequence of numbers. Fibonacci levels are popular among forex traders since adding some maths into your strategy makes it more accurate. Harmonic price patterns are much more precise and may provide accurate reversal points. We may spot harmonic patterns quite often but the pattern can be considered reliable only if the Fibonacci levels align with the pattern. And we cannot always wait for an ideal set up to trade. So, we must be trading based on the situation. Personally I think trading using harmonic patterns requires a lot of patience and a lot of learning to master the patterns. I prefer to just follow the price action as that is more comprehensive for me.</p>

<p id="isPasted">For the record. Harmonic Trading Strategies are Shits.</p><p>Professional Traders dont bring Crayons and Coloring books on their trading desk. You need to be logical and reasonal when everytime you push the buy and sell button. Do you think that large prop trading desk just stared their charts , spotting some astrological constellation?</p><p>There is No Holy Grail in Trading</p><p>“The markets are the same now as they were five to ten years ago because they keep changing – just like they did then.” – Ed Seykota</p><p>New traders make the mistake of looking for the perfect trading system with the perfect entries and exits that work every time. Unfortunately, there is no such thing. If there was a 100% winning system, someone would own the world pretty quickly through compounding.</p><p>Profitable trading is all about finding an edge and capitalizing on it. No trading system wins all the time because the market changes constantly. The same signals are not profitable in bull markets, bear markets, and range bound markets regardless of how great the signals are.</p><p>Market price action is like a river that is constantly flowing and changing. You can’t trade the same market the same way every time and expect the same results. There is no Holy Grail in trading because it’s never the same price action, and you aren’t the same trader you were yesterday.</p>

<p id="isPasted">No, I don't feel harmonic patterns are always profitable as:</p><p>Harmonic trading gets subjective. Sometimes, it leads to missing out on trends</p><p>Range markets always tend to be favourable for harmonic trading. Most of the times, the stop-loss gets disrupted.</p>

<p>Yes, harmonic patterns are very profitable if used wisely by traders. These patterns take geometric price patterns to the next level by making use of Fibonacci numbers to define accurate turning points. It aims to predict future price movements.</p>

<p id="isPasted">Harmonic chart patterns are very useful in predicting the price movements. Traders find different patterns of different magnitudes and length and then the fibonacci coefficient is applied to them for predicting the future price movement.</p><p>Harmonic patterns are also used to gauge the time period for which the current price moves and are also used to isolate reversal points.</p>