April 2010
Intermediate to advanced
288 pages
5h 42m
English
book
Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
by Scott M. Carney
Content preview from Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
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Chapter 12. Pattern Violations
When distinct harmonic patterns form, the anticipation of a valid reversal can frequently create a biased perspective of the assessment of the opportunity. For example, a perfect Bearish Bat could indicate a great selling opportunity. However, strong price action can blow out distinct patterns like these and trigger a continuation of the predominant trend. As the section “Warning Signs in the Potential Reversal Zone (PRZ)” in Chapter 10 illustrated, these situations frequently provide clear indication regarding the potential failure of a pattern. When this happens, there are defined strategies that can capitalize on the continuation of the predominant trend. The key to profiting from these situations is to utilize ...
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