Harmonic trading- Volume One PDF– Profiting from the Natural Order of the Financial Markets– represents an important advancement of the gamut of technical trading strategies that seek to define opportunities in the financial markets through the identification of price patterns and the analysis of market structure.
Category: Technical Analysis
Author: Scott M. Carney
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Harmonic Trading: Volume One PDF represents an important advancement of the gamut of technical trading strategies that seek to define opportunities in the financial markets through the identification of price patterns and the analysis of market structure. This analysis employs a foundation of several existing price-based measurement approaches to the markets, while adding many unprecedented strategies that create a synergistic system of rules to optimize the decision making process of trading. Price pattern analysis provides precise and effective information regarding potential future trends. Most important, Harmonic Trading possesses unique and effective technical measurement strategies that define critical new patterns and expound upon the existing knowledge base of general Fibonacci and price pattern theories to establish precise guidelines and extremely effective predictive tools to define and analyze market trends.
As in any literary work, it is important to cite all appropriate references and original ideas that are discussed. I have researched extensively most of the relevant reference material that applies to the ideas covered in this book. I believe it is necessary to emphasize the preparation required to outline the Harmonic Trading concepts and the lengths that I have pursued to distinguish the origins of these ideas. Technical methods from Elliott, Gann, Hurst, Gartley, and others have been thoroughly cited as the foundation for many of the advanced concepts within the Harmonic Trading approach. However, it is important to note that most of these measurement techniques and analytical assumptions have not been presented previously.
Therefore, the Harmonic Trading methodology may challenge previous technical theories and prove to be controversial. The ends do justify the means, as the strategies that comprise Harmonic Trading represent time-proven ideas that have served as reliable analytical guidelines in even the most volatile of market climates.
Table of contents- Harmonic trading- Volume One PDF
About the Author
Chapter 1 Harmonic Trading 7
Chapter 2 Fibonacci Numbers 11
Chapter 3 Pattern Identification 35
Chapter 4 The AB=CD Pattern 41
Chapter 5 The Bat Pattern 71
Chapter 6 The Gartley Pattern 97
Chapter 7 The Crab Pattern 121
Chapter 8 The Ideal Butterfly Pattern 149
Chapter 9 Trade Execution 171
Chapter 10 Price Action in the Potential Reversal Zone (PRZ) 185
Chapter 11 The Harmonic Trade Management System 203
Chapter 12 Pattern Violations 233
“To be useful, a trading methodology must be understood. Simplicity is a bonus. Harmonic Trading: Profiting from the Natural Order of the Financial Markets, Vol. 1 by Scott M. Carney succeeds on both counts. This first volume of a promising series on harmonic trading will benefit traders seeking to improve their models.”
–George A. Schade Jr., CMT, Stock Futures and Options, January 2011.
“I have always found it fascinating that, in the field of securities analysis, so few important gains have been made in the body of knowledge since the 1920s and 1930s. There are a small number of modern-day pioneers among us who must be sought out. Scott Carney is one of those pioneers who has devoted himself to the task of uncovering the hidden logic in the movements of the markets.Harmonic Trading: Volume 1provides a system of critical decision-making based on the natural order of life, which allows investors to replace emotions and guesswork with logic and symmetry so necessary to becoming a successful investor.
—PAUL DESMOND, President of Lowry Research Corporation
“I am well aware of the author’s dedication and degree of excellence in his work. Scott has not only thoroughly researched and covered the subject well, he has taken that most important step of showing you how to use these tools and apply them to your trading and investing. I currently oversee the management of more than $3 billion in assets using a technical model. I know firsthand that a trading methodology that does not have buy, sell, and trade-up rules will never be successful. Every effort needs to be made to make the process free of subjectivity.Harmonic Tradingwill help you organize your trading and keep you in sync with the markets. No one has done this better than Scott.
—GREG MORRIS, Chief Technical Analyst, Stadion Money Management, and author ofCandlestick Charting ExplainedandThe Complete Guide to Market Breadth Indicators
About the author
Scott M. Carney is President and Founder of HarmonicTrader.com, and the originator of the Harmonic Trading approach. He personally defined this unprecedented methodology that employs a unique system of price pattern recognition and Fibonacci measurement techniques to define opportunities in the financial markets. Among his many discoveries, Scott has defined most of the harmonic patterns, including the Bat, the ideal Gartley, and the Crab. He has been recognized for other contributions to Technical Analysis, including the concept of the Potential Reversal Zone (PRZ), the 0.886 retracement, and the 38.2% trailer. Carney has been a columnist for StockCharts.com, TradingMarkets.com, and eSignal.com, and he has been featured on CNN. He is a full member of the Market Technicians Association (www.mta.org) and the American Association of Professional Technical Analysts (www.aapta.us)
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