HARMONIC PRICE PATTERNS IN THE FOREX MARKET

We hope that you know the basic chart patterns down, it’s time to move on and add some more advanced tools to your FOREX trading arsenal.

In the lesson, we are going to discuss on harmonic price patterns. These bad boys may be a little harder to grasp but once you spot these setups, it can lead to some very nice profits!

The whole idea of these patterns is that they help people spot possible retracements of recent trends. In fact, we’ll make use of other tools we’ve already covered – the Fibonacci retracement and extensions!

Combining these wonderful tools to spot these harmonic price patterns, we’ll be able to distinguish possible areas for a continuation of the overall trend.

In this lesson, we’re going to discuss the following Harmonic Price Patterns:

• ABCD Pattern
• Three-Drive Pattern
• Gartley Pattern
• Crab Pattern
• Bat Pattern
• Butterfly Pattern

Phew! That’s quite a lot to cover!

But don’t you worry… Once you get the hang of things, it’ll be as easy as 1-2-3!

We’ll start off with the more basic ABCD and three-drive patterns before moving on to Gartley and the animals.

After learning about them, we’ll take a look at the tools you need in order to trade these patterns successfully in the FOREX market.

 The point is to wait for the entire pattern to complete before taking any short or long trades for all these harmonic price patterns. You’ll see what we’re talking about later on so let’s get started!