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Sri Lanka Equity Forum » Stock Market Charts & Graphs » Technical Analytics & Charts (1)

Technical Analytics & Charts (1)

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1 Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:42 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
In this lesson, we'll be looking at harmonic price patterns. These bad boys may be a little harder to grasp but once you spot these setups, it can lead to some very nice profits!

The whole idea of these patterns is that they help people spot possible retracements of recent trends. In fact, we'll make use of other tools we've already covered - the Fibonacci retracement and extensions!

Combining these wonderful tools to spot these harmonic patterns, we'll be able to distinguish possible areas for a continuation of the overall trend.

In this lesson, we're going to discuss the following Harmonic Price Patterns:
ABCD Pattern
Three-Drive Pattern
Gartley Pattern
Crab Pattern
Bat Pattern
Butterfly Pattern
Phew! That's quite a lot to cover!

But don't you worry... Once you get the hang of things, it'll be as easy as 1-2-3! We'll start off with the more basic ABCD and three-drive patterns before moving on to Gartley and the animals.

After learning about them, we'll take a look at the tools you need in order to trade these patterns successfully.

For all these harmonic patterns, the point is to wait for the entire pattern to complete before taking any short or long trades. You'll see what we're talking about later on so let's get started!



source:baby pips  Very Happy

2 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:45 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The ABCD and the Three-Drive

The ABCD

Let's start this lesson with the simplest harmonic pattern, and what could be more basic than your good ole ABC's? We'll just pop in another letter right there (because we're cool like that) and we've got the ABCD chart pattern!

To spot this chart pattern, all you need are ultra-sharp hawk eyes and the handy-dandy Fibonacci tool.

For both the bullish and bearish versions of the ABCD chart pattern, the lines AB and CD are known as the legs while BC is called the correction or retracement. If you use the Fibonacci retracement tool on leg AB, the retracement BC should reach until the 0.618 level. Then, the line CD should be the 1.272 Fibonacci extension of BC.

Simple, right? All you have to do is wait for the entire pattern to complete (reach point D) before taking any short or long positions.

Oh, but if you want to be extra strict about it, here are a couple more rules for a valid ABCD pattern:

The length of line AB should be equal to the length of line CD.
The time it takes for the price to go from A to B should be equal to the time it takes for the price to move from C to D.



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Last edited by traderathome on Wed Mar 14, 2012 8:58 am; edited 2 times in total

3 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:47 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Three-Drive

The three-drive pattern is a lot like the ABCD pattern except that it has three legs (now known as drives) and two corrections or retracements. Easy as pie! In fact, this three-drive pattern is the ancestor of the Elliott Wave pattern.

As usual, you'll need your hawk eyes, the Fibonacci tool, and a smidge of patience on this one.

As you can see from the charts above, point A should be the 61.8% retracement of drive 1. Similarly, point B should be the 0.618 retracement of drive 2. Then, drive 2 should be the 1.272 extension of correction A and drive 3 should be the 1.272 extension of correction B.

By the time the whole three-drive pattern is complete, that's when you can pull the trigger on your long or short trade. Typically, when the price reaches point B, you can already set your short or long orders at the 1.272 extension so that you won't miss out!

But first, it'd be better to check if these rules also hold true:

The time it takes the price to complete drive 2 should be equal to the time it takes to complete drive 3.
Also, the time to complete retracements A and B should be equal.




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4 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 9:01 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Gartley and the Animals

Once upon a time, there was this insanely smart trader dude named Harold McKinley Gartley.

He had a stock market advisory service in the mid-1930s with a huge following. This service was one of the first to apply scientific and statistical methods to analyze the stock market behavior.

According to Gartley, he was finally able to solve two of the biggest problems of traders: what and when to buy.

Soon enough, traders realized that these patterns could also be applied to other markets. Since then, various books, trading software, and other patterns (discussed below) have been made based on the Gartleys.

Gartley a.k.a. "222" Pattern

The Gartley "222" pattern is named for the page number it is found on in H.M. Gartleys book, Profits in the Stock Market. Gartleys are patterns that include the basic ABCD pattern we've already talked about, but are preceded by a significant high or low.

Now, these patterns normally form when a correction of the overall trend is taking place and look like 'M' (or 'W' for bearish patterns). These patterns are used to help traders find good entry points to jump in on the overall trend.



A Gartley forms when the price action has been going on a recent uptrend (or downtrend) but has started to show signs of a correction.

What makes the Gartley such a nice setup when it forms is the reversal points are a Fibonacci retracement and Fibonacci extension level. This gives a stronger indication that the pair may actually reverse.

This pattern can be hard to spot and once you do, it can get confusing when you pop up all those Fibonacci tools. The key to avoiding all the confusion is to take things one step at a time.

In any case, the pattern contains a bullish or bearish ABCD pattern, but is preceded by a point (X) that is beyond point D. The "perfect" Gartley pattern has the following characteristics:

Move AB should be the .618 retracement of move XA.
Move BC should be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.272 of move BC. Consquently, if move BC is .886 of move AB, then CD should extend 1.618 of move BC.
Move CD should be .786 retracement of move XA


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5 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 9:04 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Animals

As time went by, the popularity of the Gartley pattern grew and people eventually came up with their own variations.

For some odd reason, the discoverers of these variations decided to name them after animals (Maybe they were part of PETA?).Without further ado, here comes the animal pack...

The Crab

In 2000, Scott Carney, a firm believer in harmonic price patterns, discovered the "Crab".

According to him, this is the most accurate among all the harmonic patterns because of how extreme the Potential Reversal Zone (sometimes called "price better reverse or imma gonna lose my shirt" point) from move XA.



This pattern has a high reward-to-risk ratio because you can put a very tight stop loss. The "perfect" crab pattern must have the following aspects:

Move AB should be the .382 or .618 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 2.24 of move BC. Consquently, if move BC is .886 of move AB, then CD should be 3.618 extension of move BC.
CD should be 1.618 extension of move XA.



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6 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 9:07 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is a chart pattern on swarnamahal. Very Happy [You must be registered and logged in to see this image.]

7 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 11:42 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
a POTENTIAL chart for dialog Please note CD leg is yet to form.share prices less than 4rs will invalidate.

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8 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 12:26 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Bat
Come 2001, Scott Carney founded another Harmonic Price Pattern called the "Bat." The Bat is defined by the .886 retracement of move XA as Potential Reversal Zone. The Bat pattern has the following qualities:

Move AB should be the .382 or .500 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extension of move BC. Consquently, if move BC is .886 of move AB, then CD should be 2.618 extension of move BC.
CD should be .886 retracement of move XA.


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9 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 12:27 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Butterfly
Then, there is the Butterfly pattern. Like Muhammad Ali, if you spot this setup, you'll surely be swinging for some knockout-sized pips!

Created by Bryce Gilmore, the perfect Butterfly pattern is defined by the .786 retracement of move AB with respect to move XA. The Butterfly contains these specific characteristics:

Move AB should be the .786 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extension of move BC. Consquently, if move BC is .886 of move AB, then CD should extend 2.618 of move BC.
CD should be 1.27 or 1.618 extension of move XA.


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10 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 12:43 pm

stumpy

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Very Happy
Thanks buddy! Just learned a New lesson!

11 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 12:54 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stumpy wrote:Very Happy
Thanks buddy! Just learned a New lesson!
have any idea how to load cse market data for stocks in to mt4 platform ? Rolling Eyes i got mt4 indicators with pattern recognition. wanna test this one on cse market feed. Very Happy

12 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 1:08 pm

stumpy

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Check ur Email boss!
I guess Boston Technologies aren't supporting CSE data feed for MT4!
May be MT5 coz it's based on C++!

Aththama kivvoth! I don't know bro! Very Happy
But u'm using CSE data feed @ Amibroker & Metastock!

BTW pls email me that pattern recognition thing!
Wanna do some experiments! ha ha!


13 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 1:38 pm

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
Thank you tradeathome, How nice it? I like to learn more on swing trading. Hope your teaching is very useful.

14 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 1:59 pm

chamith

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Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@traderathome wrote:
@stumpy wrote:Very Happy
Thanks buddy! Just learned a New lesson!
have any idea how to load cse market data for stocks in to mt4 platform ? Rolling Eyes i got mt4 indicators with pattern recognition. wanna test this one on cse market feed. Very Happy

Are you talking about Ami broker's AFL ?
I also download some codes tested. work well it seems
You can even write ur own codes, its simple

15 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 2:13 pm

sriranga

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Co-Admin
Thanks traderathome.
Very good one and hope a lot from you in future.

http://sharemarket-srilanka.blogspot.co.uk/

16 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 2:27 pm

K.Haputantri

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Co-Admin
Thank you trader@home. Continue the yomen service.

17 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 3:11 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@chamith wrote:
@traderathome wrote:
@stumpy wrote:Very Happy
Thanks buddy! Just learned a New lesson!
have any idea how to load cse market data for stocks in to mt4 platform ? Rolling Eyes i got mt4 indicators with pattern recognition. wanna test this one on cse market feed. Very Happy

Are you talking about Ami broker's AFL ?
I also download some codes tested. work well it seems
You can even write ur own codes, its simple
what i need is price history of all stocks to be DL to MT4.Then i can run the pattern recognition tool so that it will easily show me impending pattern. Very Happy

18 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 4:38 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
here is a BULLISH Gartley chart on PARQ. See how lagging our conventional indicators compared to this method.The method is with an accuracy of 90% GUYS Basketball Lets see how good the current PRZ would stand. A price below 12 rs will invalidate the chart pattern, then we look for the other bullish PRZ hopefully to load some mo Shocked
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19 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 5:02 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
here is a trade on AUDUSD spot fx with this trading system..... see how accurate,,,

method is not fool proof 100% but highly accurate with good risk reward.

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20 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 6:21 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is the Bearish 5-0 pattern for ASPI.

The 5-0 pattern was not discussed earlier in this thread. But i thought i will put this post since i studied on ASPI Sad This pattern is onle leg extension from C of Shark Pattern. which will discuss later. No need to discuss all at one time rite...will take one at a time Very Happy

So will see what happens next couple of weeks....

happy trading

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21 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 6:32 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
My only worry is how reliable the data feed on Direct FN TWS Smile I would appreciate some one could lemme explain where to DL the market feed in compatible mode to MT4 platform. Very Happy

22 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 7:24 pm

smallville

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Associate Director - Equity Analytics
Associate Director - Equity Analytics
Very valuable thread on TA..

SFS & PARQ had nice patterns; See the Three Fibonacci retracements drawn..
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But why DIAL has to come to Rs. 4/- unless ASI dips below 4700??

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23 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 7:32 pm

lemuria


Manager - Equity Analytics
Manager - Equity Analytics
gud post ma friend. Keep gd work.

24 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:22 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
A Chart of Lankem...anyone holding we are in a potential Price reversal zone. Very Happy hope i helped you ....in some way

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25 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:32 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
This HAT method is very good/effective,to decide when to sell off and when and where to place BUY orders Very Happy TA Rulllllls

26 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:34 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@traderathome wrote:Here is a chart pattern on swarnamahal. Very Happy [You must be registered and logged in to see this image.]
hope no one is selling off.......i mean the big sharks are not watching this hehe Shocked

27 Re: Technical Analytics & Charts (1) on Wed Mar 14, 2012 11:06 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is the final chart for the day..... Very Happy [You must be registered and logged in to see this image.]

28 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 2:00 am

CSE.SAS

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Global Moderator
Good work mate.
Keep it up.

29 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 9:03 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is a possible chart on JKH. 2 scenarios from Technical point.

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30 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 10:38 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is the final chart for TODAY Basketball

this is not financial advise to BUY/Hold or SELL...do your on due diligence.

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Last edited by traderathome on Fri Mar 16, 2012 10:07 am; edited 1 time in total

31 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 11:10 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Placed a LIMIT ORDER @55.20 for NTB N0000'N Next BUYING would be around 41.30 If price reverses Very Happy

32 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 2:07 pm

chamith

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Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hope this will help;

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33 Re: Technical Analytics & Charts (1) on Thu Mar 15, 2012 6:05 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
happy someone has taken interest ....way to go dude Very Happy

good luck
TAH

34 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 6:40 am

K.Haputantri

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Co-Admin
TAH, thank you very much for your excellant presentation. It appears very usefull. But, I need little more help with step-by- step details in few areas where I am not that conversant.

One is measuring the distance between AB, CD ect. ?How do you measure. ?Does the software has the facility.

The second is the length & direction of the dotted arrow up/down. ?Any guide lines for improvement of acuracy.

Third is plotting the Fibonaci levels. ?Does the software plot it for you at the click of a butten or is there any other method.

Many novices will be benefitted if you could elaborate a little bit.

35 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 7:13 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@K.Haputantri wrote:TAH, thank you very much for your excellant presentation. It appears very usefull. But, I need little more help with step-by- step details in few areas where I am not that conversant.

One is measuring the distance between AB, CD ect. ?How do you measure. ?Does the software has the facility.

The second is the length & direction of the dotted arrow up/down. ?Any guide lines for improvement of acuracy.

Third is plotting the Fibonaci levels. ?Does the software plot it for you at the click of a butten or is there any other method.

Many novices will be benefitted if you could elaborate a little bit.
Hapu thanks and i will try n explain step by step to the best as i can...

The HPP is a mix of elliot wave and fibonacci combined. so you need to refer free books available about elliot wave.fibbonacci if coorectly used can precisely identify PRZ (Potential Reversal Zones) that could pick 90% of the time.The HPP is in general 85-90 accurate enough and that would mean we can decide where to place our BUY orders. And when to SELL.

1.I am doing it manually ,what i look is Low,High and Lower High points,no softwares. I use the Direct FNs tool to plot these points on the chart.

2.Please explain again...

3.we have to do it manually measuring the levels..read extra books on this and im sure with months and weeks you will master.put your charts in the thread using paint to draw lines etc ..they may be wrong...we will help each other ...to learn fast. This is the only way to be a veteran in this field.

Good Luck
TAH

36 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 8:23 am

K.Haputantri

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Co-Admin
Thank you TAH for the quick response. I think, I have not made myself clear in the second issue raised. In fact, I have confused you asking the wrong question. The lenght of those dotted arrows at the end of in your ABCD charts are irrelavent as they mearly give Sell/Buy signals. Kindly correct me if I am wrong.

Actually, my quarry relates to the red arrow Up/down pointing Target Zones in your charts of 14th instant on Swarnamahal, Dial & OGL. It appears they are drawn manually. As you are aware, manual work can be arbitrary some times. Hence, ?Can you help in the correct method of identifying the target zone with any guide lines etc.

37 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 8:30 am

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@K.Haputantri wrote:Thank you TAH for the quick response. I think, I have not made myself clear in the second issue raised. In fact, I have confused you asking the wrong question. The lenght of those dotted arrows at the end of in your ABCD charts are irrelavent as they mearly give Sell/Buy signals. Kindly correct me if I am wrong.

Actually, my quarry relates to the red arrow Up/down pointing Target Zones in your charts of 14th instant on Swarnamahal, Dial & OGL. It appears they are drawn manually. As you are aware, manual work can be arbitrary some times. Hence, ?Can you help in the correct method of identifying the target zone with any guide lines etc.
If you look at the initial posts from baby pips i put, can you see the BLUE arrow those are the levels but i prefer to keep 1 Fib level below the target to be safe. Laughing so that our targets will hit more often than not. Very Happy

38 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 3:10 pm

K.Haputantri

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Co-Admin
Thanks TAH for your valuable advise.

39 Re: Technical Analytics & Charts (1) on Sat Mar 17, 2012 10:59 pm

Kumar

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks traderathome.
Good work and new strategy.

40 Re: Technical Analytics & Charts (1) on Sun Mar 18, 2012 9:50 pm

traderathome

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is my analysis for AHUN N, I will try to put my analysis once a week before monday morning.Please accept my advance apology in case i miss or delay in the future.

The Share price pattern is confirmed as a falling wedge. A Typical trend reversal pattern and known as a bullish pattern.

I have depicted possible price reversal zones with Resistance level, So trade with caution. Due to I see a bearish gartley pattern in the formation at PRZ1 and PRZ2 price action can form to be a bearish crab.


Happy Trading,


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Please do your due diligence and consult your stock broker and this is not a BUY/SELL or Hold advise.

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