Cryptsyxalt

Cryptsyxalt

Perfect Bearish Deep Crab adding confluence to the 1H Bearish Gartley. Using the 224% BC projection for entry offers a great short hedge which is now risk free.

Cryptsyxalt

Adding confluence to the Daily Crab , this Deep crab has hit the required measurements of 161.8% XA, AB=CD 127.2% and the 261.8% BC projection. Reversals of this magnitude are generally volatile processes and take a considerable amount of time. Expect a large amount of choppy movement as the bears begin to take control back from the Bulls. Higher time frame...

Cryptsyxalt

Adding confluence to the Daily Crab, this Deep crab has hit the required measurements of 161.8% XA, AB=CD 127.2% and the 261.8% BC projection. Reversals of this magnitude are generally volatile processes and take a considerable amount of time. Expect a large amount of choppy movement as the bears begin to take control back from the Bulls. Higher time frame...

Cryptsyxalt Updated 

Combined with the entries of the 4H Gartley and the 1H Butterfly , this Deep Crab had a strong reaction at the entry line, hitting both TP1 and TP2 with out much resistance.

Cryptsyxalt Updated 

Forming after the rejection off the Daily Bearish Butterfly entry, the Bullish Butterfly on the 1H time frame manged to hit TP1 off the intial reaction. All the Harmonic patterns I trade require a minimum of an AB=CD pattern present in their structure to be valid. The AB=CD of this Butterfly is represented by the Purple 100% line on the chart. When price...

Cryptsyxalt Updated 

The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames. Price has been rejected multiple times at the Butterfly entry line (127.2% XA) and at the 224% BC projection. Although the 224% BC projection aligns closely with the 127.2% XA extension, price may potentially push higher to the extreme 261.8% of BC...

Cryptsyxalt Updated 

The Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program. The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general,...

Cryptsyxalt Updated 

The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames. Price has managed to hit the first take profit level of the Gartley, continueing the bullish momentum beyond the entry level for the Daily Bearish Butterfly. The strength of the bearish pressure at the 1.21226 entry level of the Butterfly has managed to...

Cryptsyxalt

The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames. Price has managed to hit the first take profit level of the Gartley , continueing the bullish momentum beyond the entry level for the Daily Bearish Butterfly . The strength of the bearish pressure at the 1.21226 entry level of the Butterfly has managed...

Cryptsyxalt

The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames. Price has been rejected multiple times at the Butterfly entry line (127.2% XA) and at the 224% BC projection. Although the 224% BC projection aligns closely with the 127.2% XA extension, price may potentially push higher to the extreme 261.8% of BC...

04:06

Cryptsyxalt

How to hedge trade using Harmonic patterns. Building a risk free position in both directions. Subscribe to my channel for more trading tutorials on the Forex and Cryptocurrency Markets. www.youtube.com

Cryptsyxalt Updated 

This Deep Crab entry is around the area of TP2 for the Daily Bullish Butterfly, see the comments below for further details.

Cryptsyxalt Updated 

Adding Confluence to the Deep Crab on the 4H, this Butterfly entry meets in the same area as the TP2 for the Daily Bullish Butterfly shown below.

Cryptsyxalt

Drawing my bespoke fib from the high of the previous entry to the new low allows me to scale in with a third entry at the 50% retracement level. Following the same process as the previous entries I now have 3R profit secured with more than a full sized risk free position running. ENTRY 1:- ENTRY 2:- Bearish Butterfly Main Entry:-

Cryptsyxalt

Drawing my bespoke fib from the high of the previous entry to the new low allows me to scale in with a second entry at the 50% retracement level. Following the same process as the initial entry I now have 2R profit secured with a full sized risk free position running.

02:19

Cryptsyxalt

Backtesting my 50% retracement system for Apple stock is a perfect example of how it works. Drawing my bespoke fib levels from the previous low to the new high gives me my entry point, stop and initial target. ENTRY 50% STOP 25% TP1 100% Closing (selling) 50% of the initial position at TP1 allows the remaining 50% of the position to be risk free. There are two...

Cryptsyxalt

Through my research whilst studying Scott Carneys Harmonics methods I devised the 50% retracement system. This system allows me to enter higher time frame patterns with considerably smaller stops. Entering at the 50% retracement with a stop at the 25% allows me to create a risk free position by closing 50% at 2R (100%). I carry out this system on the 1m time...

Cryptsyxalt

The standard Take profit targets for most of the major harmonic patterns is 38.2% and 61.8% of AD. My personal preference is to use 2R and 4R as demonstrated in this live chart. Closing 50% of my position at 2R allows the remaining 50% to be risk free, alleviating any stress that arises from having capital at risk.