Scott M Carney - Harmonic Trading of the Financial Markets - Vol I 2010 Ed harmonictrader

Harmonic Trading: Volume 1

Harmonic Trading is a new and exciting area of technical analysis that utilizes the powerful synergies of Fibonacci measurement techniques to quantify specific price patterns. Like a combination to a safe, these strategies unlock valid market signals in an unprecedented fashion. The book presented a number of unprecedented techniques. In Carney’s first book, he presented the following unique concepts:

• Defined the Potential Reversal Zone (PRZ).
• Distinguishing ALL points within 5-point price structures by examining each Fibonacci calculation to validate the proper alignment that for each harmonic pattern.
• Explained the importance of the Mid-Point (B) as the defining element of 5-point price structures.
• Defined the use of the alternate AB=CD pattern within harmonic patterns.