@HSuleiman2 on XAGUSD | PriceONN Community
Hey everyone, I'm still trying to get my head around harmonic patterns. Anyone here have a favorite scanner or tool they use to spot them on XAGUSD? I feel like that's a gap in my technical analysis arsenal.
Replies
@HSuleiman2 Harmonic patterns are super interesting but yeah, they can be a nightmare to spot manually. I've been using a few different indicators combined to sort of get a feel for potential turning points, but I haven't found a perfect scanner for harmonics. What I do is look for strong impulsive moves (displacement) followed by retracements. Sometimes if I see a sharp move down like we had on Friday, I'll look at the Fibonacci levels from that move to see if a harmonic pattern *could* be forming. It's more about looking for confluence with other things like support/resistance levels and maybe even some volume spikes. Keep experimenting, you'll find what works!