Support and Resistance with Harmonic Pattern

Support and resistance are an important concepts in technical analysis as support and resistance can play a significant role in harmonic pattern trading. We will cover how to effectively use both support and resistace for your Forex and Stock trading. Harmonic patterns are geometric price patterns that use Fibonacci retracement and extension levels to identify potential reversal zones in the market. These patterns often form at key support and resistance levels, adding confluence to their significance.

  • Support Levels: Support levels are price levels where buying interest is sufficiently strong to overcome selling pressure, preventing the price from declining further. In harmonic pattern trading, support levels are important because harmonic patterns often form at or near these levels. For example, bullish harmonic patterns like the Gartley or Bat pattern may form at or near a support level, signaling a potential reversal to the upside.
  • Resistance Levels:Resistance levels are price levels where selling pressure is sufficiently strong to prevent the price from rising further. Similar to support levels, resistance levels are crucial in harmonic pattern trading. Bearish harmonic patterns such as the Bearish Butterfly or Cypher pattern may form at or near resistance levels, indicating a potential reversal to the downside.

Support and resistance can be effectively combined with Harmonic Pattern to improve your trading performance in Forex and Stock market. Support Resistance is the popular and the most trusted technical analysis. It lasted more than 100 years in the trading community. You can tell how much trust people have on the support and resistance. Idea behind the support and resistance is picking the price level to trade. When you pick the right price level, you will end up good rewards that is profits. Trading around support resistance can provide two to three times more volatilty. Hence, there is nothing wrong with using this simple but powerful technical analysis. Comparing to other techncial analysis, it is much simpler. Being simpler will not penalize the support and resistance from rest of techncial analysis as long as it does its job.

Supply Demand Zone is an advanced support and resitance indicator. Supply Demand Zone can identify the zones on the chart where demand is greater than supply ( = the demand zone), driving the price up or where supply is greater than demand ( = the supply zone), driving the price down. In fact, the zones are another price pattern that exhibts fractal wave in the price data. The zone is in fact considered as the trading zone. One important aspect of understanding the supply demand trading is to find the entry and exit in the market rhythm made up from the price swings. Here is a short article on increasing your profitability with supply and demand zone for Forex and Stock Market Trading. Please read this to gain better knowledge of using supply and demand zone for your trading. When you first start with supply and demand zone, you can also approach it as support and resistance at the beginning, then after, you will extrend its concept as zone.

This is not about the number but about geometry. Your ability to combine these geometry together with Harmonic Pattern Indicator can typically form the secret trading recipes for your successful trading. Here is the landing page for Mean Reversion Supply Demand and Ace Supply Demand Zone Indicator.

Mean Reversion Supply Demand

Mean Reversion Supply Demand indicator is our earliest supply demand zone indicator and loved by many trader all over the world. It is great to trade with reversal and breakout. You can also fully setup your trading with stop loss and take profit target. Please note that Mean Reversion Supply Demand is the excellent tool but it is repainting supply demand zone indicator. Below are the links to MetaTrader 4 version of the Mean Reversion Supply Demand indicator.

Ace Supply Demand Zone 

Ace Supply Demand Zone is non repainting and non lagging supply demand zone indicator. In addition, Ace Supply Demand Zone indicator provides the multiple timeframe scanning to detect the important supply demand zone in your chart. Mean Reversion Supply Demand Zone indicator is repainting. It is our earlier version of supply demand zone indicator before Ace Supply Demand Zone indicator. However, Mean Reversion Supply Demand Zone indicator is cheaper than Ace Supply Demand Zone indicator. Hence, you can choose one of them depending on your budget and preference over the repainting indicator. Below are the links to MetaTrader 4 version of the Ace Supply Demand Zone indicator.

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