Sani Global Forex

Harmonic Pattern – The Gartley Harmonic Patterns enable traders to determine turning points with precision and high accuracy. In our introduction to Harmonic Patterns, we indicated that; all Harmonic patterns have five points – namely, “XABCD”. Of the five points, the market always provides “XA” which is the impulse leg/move. Therefore the trader is required to identify the remaining points - “BCD”. The Gartley pattern is the most commonly used harmonic pattern, and it was founded by an American ‘Harold McKinley Hartley’ (H.M. Hartley) in 1932.  Like all Harmonic patterns, The Gartley is based on the Fibonacci retracement numbers, and it is used to help traders forecast/identify turning points on the market-trend chart. It is therefore a good indicator on when to enter or exit trades. Using the Fibonacci tool, the Gartley pattern identifies BCD points by using the following measurement Criteria : - >Point ‘B’ is 61.8 retracement of leg “XA”. >P...

Harmonic Patterns – A Forex Market Trader’s Perspective – Harmonic patterns are formations on forex charts, created by price movements in the market. These patterns assist the trader to: – Analyze the forex market and forecast its price movement with precision therefore Determine potential trend-retracement areas (entry and exist points) with the highest possible accuracy. In other words ; Harmonic patterns use Fibonacci retracement levels to geometrically draw patterns that depict potential trend-reversal zones, thereby assisting the trader to precisely highlight the best trade entry/exit points. Due to their proven accuracy in pin-pointing potential trend-reversal zones in forex market, Harmonic Patterns are key (advanced) tools in the trader’s box. Harmonic Patterns are usually characterized by “M” (Uptrend) and W” (downtrend) shapes and can be categorized into Seven basic patterns: Gartley , Butterfly , Crab , Bat , Shark , Cypher and Deep Crab...

FIBONACCI – Retracements -A Forex Trading  Perspective- Fibonacci is an analytical tool which was invented in the 13th century by “Leonardo Pisa”. In Forex trading, the Fibonacci is one of key tools that assist traders in determining when is the right time to buy or sell. It provides traders with reliable information on what the market has been doing and what it intends doing next – through Retracements as an example . In Forex trading, Retracement can be defined as; price correction (pull-back) during an impulse or larger (up-ward or down-ward) trend. Retracements are simply price corrections rather than actual trend reversals. However, as pull backs, Retracements act as an opportunity for traders to enter trades in their original direction, but take advantage of better prices during the retracement periods. Characteristically, a Retracement is followed by an impulse move which carries on in the original direction. Therefore, they provide a temporary...