Harmonic Price Pattern
If we previously learned about the basis of chart pattern, now is the time to learn about other methods that are more advanced than before, which we call the Harmonic Price Pattern.
If you have ever learned about Fibonacci indicators, then to learn this indicator, it certainly will not be difficult because the Harmonic Price Pattern is mostly related to the term Correction or Retracement on the Fibonacci indicator.
There are several terms in the Harmonic Price Pattern indicator, namely:
- ABCD Pattern
- Three-Drive Pattern
- Gartley Pattern
- Crab Pattern
- Bat Pattern
- Butterfly Pattern
Before discussing points 3 to 6 we first learn about ABCD Pattern and Three-Drive Pattern as the basis.
To name each of the Harmonic Price Pattern indicators above, you don’t have to always follow them. You can name each of these indicators yourself (especially points 4 to 6) with names that you can easily remember.
And if you already understand about this indicator then you can be sure you will be able to take a decision with better accuracy and of course this will increase your chances of getting profit in the forex market.