The Butterfly Pattern uses the identification of quantified structures on a chart that has specific and sequential Fibonacci ratio alignments that show harmonic patterns. These patterns calculate and measure the Fibonacci aspects of the price action structures to signal reversal points with a good probability of success. Traders using harmonic patterns as a trading method believe that these […]
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Chart patterns provide context for applying key levels to trade off of on a chart. One group of similar chart patterns uses the XABCD harmonic chart pattern. The XABCD is a 4-legged group of reversal patterns. The XABCD pattern was first observed and noted by Harold McKinley Gartley. These types of patterns is a road
Harmonic Patterns use the identification of quantified chart price action structures that have specific and consecutive Fibonacci ratio alignments that form the visual structures. Harmonic patterns calculate the Fibonacci levels of the price patterns to identify high probability reversal points on the charts. This method believes that harmonic patterns or cycles repeat on charts in
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