ATLASUSD Fake Harmonic and being creative in TA #ATLAS
ATLASUSD Harmonic Pattern, with 12h bull div on RSI and MACD Histo at .886 Retrace, from September Low to end November High. Easy to manage Risk at these levels and if it breaks the support at .072-0.078 its over for Atlas, at least from a TA point of View.
For a trade entry, one would wait for a second confirmation low but for people accumulating its def at value areas.
I started using Harmonic patterns and the XABCD Tool as a advanced fib tool. I stopped searchin for the exact Names and just interpret them myself using the different fib levels and higher/lower highs/lows. This does not mean that i dont care about the traditional use of Harmonics tought by Scott Carney.
I didnt study Harmonics in Depth by reading his Books until now but i will start to do so. However i believe that TA is a personal Journey and its all about creating your own reliable system. Its very important to not switch back and forth between fancy indicators, guru trading strategys and expensive oscilators. In this way one can learn of his past experiences. its hard for me to explain in english but as long you follow the basic rules of TA you can be creative in the use of all the tools imo.
My thinking for Atlas for exmp.:
A to B = .618 retrace = local higher low = bullish
B to C = 1.272 retrace = mid-term higher high = bullish
C to D = .886 retrace = mid-term higher low
Conclusion: Pretty Bullish xD
Then puttin it into context of the Macro Trend and History lookin left.
For a trade entry, one would wait for a second confirmation low but for people accumulating its def at value areas.
I started using Harmonic patterns and the XABCD Tool as a advanced fib tool. I stopped searchin for the exact Names and just interpret them myself using the different fib levels and higher/lower highs/lows. This does not mean that i dont care about the traditional use of Harmonics tought by Scott Carney.
I didnt study Harmonics in Depth by reading his Books until now but i will start to do so. However i believe that TA is a personal Journey and its all about creating your own reliable system. Its very important to not switch back and forth between fancy indicators, guru trading strategys and expensive oscilators. In this way one can learn of his past experiences. its hard for me to explain in english but as long you follow the basic rules of TA you can be creative in the use of all the tools imo.
My thinking for Atlas for exmp.:
A to B = .618 retrace = local higher low = bullish
B to C = 1.272 retrace = mid-term higher high = bullish
C to D = .886 retrace = mid-term higher low
Conclusion: Pretty Bullish xD
Then puttin it into context of the Macro Trend and History lookin left.
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