- Extension patterns are Bullish Butterfly, Bearish Butterfly, Bullish Crab and Bearish Crab.
- Retracement patterns are Bullish Gartley, Bearish Gartley, Bullish Bat and Bearish Bat.
These are the patterns that I used, and the list is not exhaustive. The “hardcore” harmonic traders might look at more patterns such as 5-0, Shark etc and in more time frames.
So here are the key factors I am looking at when using harmonic patterns
- Identify key market levels, in other words, key support resistance levels. This one of the MOST important step.
- Identify established price channel. A channel also represent the current trend, applying the appropriate patterns to follow the trend.
Technically Yours/ASR TEAM/BARODA