"How to Finally Make Progress Trading the Markets on MetaTrader 4..

From the Desk of Mike N

Am a Financial Systems Designer and Architect for Arithmetic Trading LLC, a financial trading systems and solutions company since 2008..

Today I would like to share with you the Next Step in Your Evolution as a Consistently Successful Trader..

Before You switch to panic mode, Pay attention!

Understanding the Universe is easier than learning the, 'Days of the Week'

The Images below depict an Atom, the smallest particle of a chemical element that can exist

and the Solar System, a Star/sun with a family of planets

Imagine the center of an Atom as the Sun, and the Electrons sorrounding the Nucleus of the Atom as the planets

Can we then, say the Solar System (sun and planets) is a larger atom (nucleus and electrons)?

If each star is a Sun and has respective planets, can we then say, star systems make up the constellation. and the constellation the galaxies and the galaxies the universe.

When we study the atom, certain attributes of the Atom are also true about our Solar system and the reverse is true.

For example, Electrons revolve around the Nucleus of an Atom and So do planets revolve around the Sun..

History, Life, Politics, Religion, Business, all of it - Is Cyclic

Here is the amazing truth,

Whatever throne an individual, business, country, or even religion sits on at any given time ... It's only a matter of time until it is replaced by the next individual, business, country or religion.

These predictable repetitions are known as CYCLES

• The four Seasons - spring, summer, fall (autumn), and winter.
• Parenting - family systems are handed over from generation to generation

Heck even the Economic Cycles are predictable:

1. Expansion,
2. Peak,
3. Recession, and
4. Recovery

If you are like most traders, you started out using two or three indicators, maybe bought a couple of EAs that claimed to be money making miracles.

Once you figured out that didn't work, you probably started doing a little more digging...

and learned how lines of Support and Resistance played such a huge role in successful trading.

That alone probably improved your trading by 100%

Now it's time to step up to the next level in your education and start looking for chart patterns that have repeatedly proven to be successful.

So today we are going to look at one class of chart patterns called Harmonic Trading Patterns (Which are also known as Gartley patterns after the trader/author who wrote the book on the subject).

These patterns have proven themselves over time to be 70, 80 and even 90% successful as long as certain trading conditions are met.

So What Exactly are Harmonic Trading Patterns..?

Well, to start, you need to understand that price action creates only three sorts of chart behaviors: ranging, breakouts and trending.

When price enters a ranging pattern after a period of trending, it will often move in identifiable pattern.

Once that pattern reaches a certain point, traders have significant percentage chance of seeing price move in one direction.

By a significant percentage I mean well beyond a 50-50 chance. More along the lines of a 60, 70, even an 80% chance or higher.

In 1932, H.M. Gartley wrote a book called Profits in the Stock Market where he identified a 5 point pattern he had discovered.

This information was later enhanced by Larry Pesavento, who wrote a book called Fibonacci Ratios with Pattern Recognition, where he applied Fibonacci ratios to the Gartley pattern to better identify entries and exits.

Finally, in his book "Harmonic Trading", Scott Carney introduced the trading world to various alternative Gartley Patterns:

Such as the Crab, the Bat, the Shark, the 5-0 but the most popular are the Gartley, butterfly, bat, and crab patterns

Armed with this information, traders are now able to start drawing these patterns on their charts, Along with the related Fibonacci lines, And find winning trades on literally any and every chart they trade.

Stocks, commodities, indexes, FOREX, Options, All of these investment vehicles are subject to Gartley chart pattern moves.

-JeffG

The Entry on this trade is 1.25779, and the stop is at 1.23447.

That is a 233 pip stop loss, which may be more than some traders can stomach.

But the

1. first Take profit target is at 1.28638, a profit is +285.9 pips,
2. with TP2 at 1.31458(+568 pips) and
3. TP3 is at 1.33448 (+767 pips).

All of these prices are Fibonacci based, and anyone who follows Fibonacci lines knows they tend to run on the accurate side of things.

But the point is, even with some larger stop losses in place, the huge number of pips up for grabs on a winning trade means you only need to be right on One out of every three or four trades.

And with many on these patterns have a historical track record of 70%, 80% and even 90% winners..

This means over the long term, assuming you use some intelligent money management rules, You are going to make pips trading these patterns.

But as the picture I just showed you prove, spotting these chart patterns isn't as easy as taking a quick glance and then jumping into a trade.

You need to figure out some exact top and bottom prices to work with,

Along with either some price divergence or some solid lines of support and resistance

And then you need to figure out the applicable Fibonaccis for entries and exits.

Then you just have to perform the same task for all the other 30 or 40 pairs in your platform.

Across the 1H, 4H and 1D time frames.

Not so attractive now, is it?

Don't worry, there is a simple solution to this mountain of work:

If you'd like to trade professionally using a Unique and advanced strategy, Zenith Harmonic Patterns Scanner is your best choice.
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