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Potential Continuation Zone VS Fibonacci Retracement for Harmonic Pattern Plus and Harmonic Pattern Scenario Planner – 5 Dec 2018

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Potential Continuation Zone VS Fibonacci Retracement for Harmonic Pattern Plus and Harmonic Pattern Scenario Planner

In Harmonic Pattern Plus (and with Harmonic Pattern Scenario Planner), you can use both Potential Continuation Zone (PCZ) and classic Fibonacci Retracement after Point D is confirmed. Fibonacci Retracement is classic and simple. However, PCZ provide more accurate prediction for the future movement of the price. Please use Potential continuation Zone for your trading.

If you are using Fibonacci retracement for risk management, then it is difficult to manage your preferred Reward/Risk ratio because there are too many lines and it is difficult to know which ones are important. More importantly, they are not accurate predictor of the price movement either. We recommend to manage your trading with Pattern Completion Interval we have originally created instead. Use Potential Continuation Zone as the mile stone for your position management. This is one of the possible but efficient way.

It is the recommended practice. If you prefer the old way of using Fibonacci Retracement, you can still use them from our Harmonic Pattern Plus (and Harmonic Pattern Scenario Planner). However, we have seen many trader using the classic Fibonacci Analysis, they risk too much with bad draw down.

Manage your risk as the top priority in your trading. For your information, Harmonic Pattern Plus and Harmonic Pattern Scenario Planner provide the Pattern Completion Interval and Potential Continuation Zone exclusively.

You can also check our book: Guide to Precision Harmonic Pattern Trading: Mastering Turning Point Strategy for Financial Trading.

 

Link to Harmonic Pattern Plus

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4475

https://www.mql5.com/en/market/product/4488

 

Link to Harmonic Pattern Scenario Planner

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

 

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