Hey Damindor, what is the indicator that produced the suggested TP (red Lines), or did you draw them yourself?I want to bring attention to this indicator to people unaware of it.
What i like about it is the really good risk/reward ratio you can get on small timeframes like the 5m frame.
Here is an examply of a trade i caught.The arrow is when the pattern was spotted using the indicaots.I used the red zones as profit target
You can easiy get a risk/reward ratio of 1/2 or better.
because it's reality. Many harmonic patterns fail, especially ones that you got found without any confirmations applied (like in trial ampmonitor).I'm using the amp monitor trial and notice there's a lot of fail trades why is that so?
What indicator do you use to have these green and red areas?Here is another example.WHat amazes me from these completed patterns is how easy and sharp price is going into the direction of your trade.Once a pattern is spotted price will move like 2 pips against you.It is really amazing it goes without saying the red zones would have been a good profit target
Here is KorHarmonics v 6.7.13, it is valid till 2015.
I use it with default settings and it works pretty good
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