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
12/7 $XAU Bearish Gartley Daily 73.4-73.9 77.5 66 PRZ not yet reached
12/7 BTK Bullish Gartley Daily 351-353 NA 372 PRZ not yet reached
12/7 WMT Bullish Gartley Daily 50.84-51.89 50 54.66 PRZ not yet reached
12/5 RFMD Bearish Crab Weekly 13.40 14 8.5 PRZ hit, Reversed
12/5 AMGN Bearish Gartley Daily 50.27-50.54 52.5 47.5 PRZ not yet reached
12/4 $USB Bullish Gartley Daily 105-105.7 104 110.5 PRZ not yet reached
12/3 C Bearish Gartley Weekly 37.89-38.38 40 31.25 Exceeded PRZ, Reversed
12/3 CSCO Bearish Butterfly Daily 15.21-15.55 16 12.18 PRZ hit, Reversed
12/3 $SOX Bearish Butterfly Daily 407-411 420 331 PRZ not yet reached
12/2 MSFT Bearish Butterfly Weekly 58.4-60.5 62 49.17 PRZ hit, Reversed
11/25 SUM* Bearish Gartley Weekly 335-450 NA TBD PRZ hit 12/3
11/23 $VIX Bearish Gartley Daily 27 NA 41 PRZ hit, Reversed
*NYSE Summation Index |
