Im trying to get the hang of ABDC pattern, Gartleys etc.
I have tried to do a ABCD pattern below can you guys let me know if im on the right track, I know the AC level is slightly below (or i think it is), But am i on the right lines.
According to my research, Harmonic trading is just a piece of idea but not the practical trading strategy until you turn them into practical. To make it work, you will need more practical trading strategy together with harmonic patterns. What I mean is that, Scott Carney, the creator of harmonic trading is not a trader but theorist. You can not directly use the patterns from his book for your trading. For example, I found his live account on myfxbook traded by Scott Carney personally. Check this my fxbook account link below from Scott Carney. He traded more than 1 year but he did not make any profit but loss only.
His trading result looks like almost random. There is no sign that he is experienced trader from his account. For this reason I will not recommend any learning materials or software from Scott Carney. You can check this link. Some trader do not value them at all.
However not to say that harmonic patterns are useless. There are many independent traders making good use of harmonic patterns. So you really need to do your own research in terms of practical application. I will recommend to use google search on who offer more practical application using harmonic patterns.
