What are the uses of harmonic patterns?

3 Views
Thomas Ball
Answered 2 years, 4 months ago
<p>Harmonic patterns are special shapes that appear on charts in forex trading. Traders use these shapes to help them guess when prices might change direction or keep going in the same direction. It's like seeing signs that tell us where the road might turn or go straight. These patterns also show where to get into a trade and when to get out. They use numbers from a special sequence called Fibonacci to figure out these points. Traders use harmonic patterns to make better decisions and to manage how much they might gain or lose. They can also help traders know …</p>
2 Views
Rudolph Dean
Answered 3 weeks, 1 day ago
<p id="isPasted">Harmonic patterns are used in trading to identify potential price reversals, set precise entry and exit points, and establish clear risk management parameters. They provide a structured, objective framework for technical analysis that helps traders anticipate potential market turning points.</p><p><br></p>