Harmonic Trading with The Phoenix
This thread is dedicated to the identification and trading of Harmonic Price Patterns. Harmonic Analysis is a little-known field of technical analysis that utilizes Fibonacci Ratios and Price Pattern Recognition techniques. Pioneered in the 1930s by analysts such as H.M. Gartley, George Cole, and Wycoff and later practiced by such analysts as William Dunnigan in the 1950s, these techniques were popularized more recently by Larry Pesavento and Scott Carney (who coined the term Harmonic Analysis).
Many fine examples of Harmonic Patterns can be viewed at Pesaventos website:
tradingtutor.com
Scott Carneys Website: harmonictrader.com
An excellent tutorial on Gartley and Butterfly setups can be found at this site:
longorshort.com
While Harmonic Analysis has much in common with disciplines such as E-Wave and Astrologic Charting, it can stand alone as an analysis and trading method. (I do not practice either E-Wave or Astrological Analysis). As far as I know, I am the only practitioner of Harmonic Analysis who posts regularly on SI. I have been identifying and tracking Harmonic Patterns here, and on a private Yahoo Group, for about a year. Im starting this thread as a place to consolidate my work in this area, and to post future patterns that I identify.
The first half dozen or so posts here will revisit the patterns identified over the past year and track the markets followthrough once those patterns completed. This section can serve as sort of a Harmonic Analysis Primer for those looking for an introduction to this field of study. Later posts will be real-time identification and tracking of new patterns as they emerge.
While my focus is the stock indices, these patterns work in any tradeable, whether stocks, commodities, currencies, etc.
WATCH LIST
Date Symbol Pattern Timeframe PRZ Stop Target Status
12/19 WMT Bullish Bat Daily 49.82-50.03 49 54.15 Hit PRZ 12/18
12/19 RFMD Bullish Butterfly Daily 7.65-7.86 7.00 10.30 Hit PRZ 12/19
12/17 JPM Bearish Gartley Daily 25.42-25.52 26 24.35 PRZ hit 12/17, target reached 12/18
12/15 $XAU Bearish Gartley Weekly 81.4-82.36 87.5 67.75 PRZ not reached yet
12/10 RFMD Bullish Gartley Daily 8.56-9.00 7.25 10.65 PRZ exceeded
12/10 BGEN Bullish Gartley Daily 40.67-41.01 40 43.38 PRZ exceeded, reversed up
12/10 QCOM Bullish Gartley Daily 38.00-38.05 37 40.5 PRZ exceeded, reversed. Target reached.
12/10 DELL Bullish Gartley Daily 26.24-26.96 25 28.4 PRZ reached, reversed up
12/9 BSX Bearish Bat Weekly 40.25-43.05 45.5 35 PRZ hit, Reversed, now retesting PRZ
12/7 BTK Bullish Gartley Daily 351-353 NA 372 PRZ exceeded, reversed up
12/7 WMT Bullish Gartley Daily 50.84-51.89 50 54.66 At stop loss.
12/3 C Bearish Gartley Weekly 37.89-38.38 40 31.25 Exceeded PRZ, Reversed, now retesting PRZ
12/2 MSFT Bearish Butterfly Weekly 58.4-60.5 62 49.17 PRZ hit, Reversed
12/3 CSCO Bearish Butterfly Daily 15.21-15.55 16 12.18 Nearing Target
11/25 SUM* Bearish Gartley Weekly 335-450 NA TBD PRZ hit, reversed
11/23 $VIX Bearish Gartley Daily 27 NA 41 PRZ hit, Reversed
*NYSE Summation Index |
