Harmonic trading is a mathematical way to trade which requires precision, patience, practice and a lot of study to excel the game of patterns. If your movements do not align with accurate pattern measurements disprove a pattern and can mislead the traders. Nevertheless, you can predict future movements through harmonic trading which is of immense use on the forex market.
Trading foreign exchange, stocks and commodities is a business vertex of science and art but it is largely about weighing probabilities. International Markets Live is a platform that can provide you with highly effective tools and services to help traders make the right decision. One of them is the iMarketsLive Harmonic Scanner which can provide you information that can ease the process of trading.
Nevertheless, harmonic trading platforms use harmonic patterns which have been measured and studied as different market formations producing high probability results. However many people doesn’t know the fact that these patterns are Elliot Wave patterns having ideal Fibonacci measurements. These needs to be understood in order to have a better comprehension of harmonic patterns.
Elliot wave pattern predictions
This theory was discovered in late 1920s where it was realized that stock markets did not operate in a chaotic manner but there were repetitive trends in the trade. The notion of “every action creating an equal and opposite reaction” applies in the financial market. Upward and downward movements of price must be followed by an opposite movement.
Fibonacci’s measurement algorithm
Fibonacci’s pattern can be used by traders to figure out reversals on stock charts. These numbers were developed showing a simple series of numbers that when you add previous two numbers you come up with next number in the sequence. Well these sequences have a close relationship with harmonic patterns.
Harmonic scanners are not used solely for basing your trades on. It provides information that is not visible to your naked eyes. It gives the trader additional indications of how market will act in a given time and could help you figure out where the market is heading. The concept of Harmonics has developed over time.
Traders are using these scanners for accurately figuring out and predicting market trends and reversals. The recognition software can anticipate all harmonic patterns that innovators have been studying for the past several years. The scanner searches 24 hours a day and 5 days a week looking for diverse trading opportunities. Once the pattern qualifies with the highest lucrative odds, the scanner alerts you that a new pattern has been posted.
Such harmonic scanners like provide by the International Markets Live can be a full time unpaid assistance that never takes a break. It can tell you of best Harmonic trade opportunities that you would not have imagined of otherwise.
Harmonic scanners of iMarketslive is an accurate identifier of key patterns which is a must buy for traders in the forex market. Not only it will educate you more in the field of trading but also expose you to other different aspects.