Harmonic Patterns, Elliott Wave Patterns and X3 Patterns
Profitable Chart patterns including Harmonic pattern, Elliott Wave patterns, X3 Chart Patterns are considered as the advanced trading strategy. More and more day trader uses these chart patterns as the tool to find profitable entry and exit. To help you to achieve the financial freedom, we provided the through instruction of using profitable pattern for your trading. All profitable patterns can be expressed in the structure = right swing /left swing in RECF notation. You can check the structure of profitable patterns in this article.
Hence, Fibonacci price patterns (retrenchment and expansion patterns), Harmonic Patterns, Elliott Wave patterns and X3 patterns are family in this respect. As I have wrote in my book, geometric support and resistance is the relative of the family.
Profitable Pattern Pattern Scanner provides a approach to control all these profitable patterns except geometric support and resistance. Easiest way of explaining is that take all these patterns as each portfolio of your trading venture. You do not have to keep all these patterns in your portfolio. As Profitable Pattern scanner provides the way to switch on and off each pattern.
First way to manage your pattern portfolio is that to switch off patterns you do not like and keep the patterns you like only. As non repainting and non lagging indicator, you are able to test each pattern through historical patterns visually in your chart. No need to resource anything else.
Second way to manage your patterns portfolio is that to switch off patterns by their category. For example, if you are familiar and big fan of harmonic patterns, then just switch off Elliott Wave pattern category and X3 pattern category. Keep Harmonic Pattern Category in your pattern portfolio.
Third way to manage your patterns portfolio is that to modify and change patterns according to your preferences. In doing so, you need some knowledge of RECF notation. This is probably the most advanced level of managing your pattern portfolio.
These are the three options to manage your pattern portfolio. The profitable patterns are better when they are used together with support and resistance. This is another good point you should make a note in your trading.
* Star River Pattern
* Trident Pattern
* Horse Pattern
* Eagle Pattern
* Phoenix pattern
X3 Chart Pattern Scanner is the most powerful pattern recognition software to detect Harmonic Pattern, Elliott Wave Pattern and X3 Chart Pattern. X3 Chart Pattern Scanner automatically scan all these patterns in one button clicks. No more tedious manual chart pattern detection for you. Here is the link to X3 Chart Pattern Scanner for MetaTrader 4 and MetaTrader 5 platform.