Scott Carney joins Vince to discuss, Harmonic Trading. There are two volumes available. Vince comments that Harmonic Trading patterns have performed well recently. It is a priced based model that has quantified patterns to project price movements. What is a good asset class for Harmonic trading. How does Fibonacci ratios work with the model? Are there other structural patterns used by the model? There are several patterns in the book that have been named. Scott uses Dow index to explain one of these patterns.
Vince announces PearlFisher portfolio changes, tune in tomorrow. Sometimes the market will not do what you predict from the model. Are there confirmation patterns that help improve the patterns? What time frames do you use to enter and exit? Manage entry as day trade, then manage trade to meet target. What are the settings used for RSI? Volume can be a useful indicator. What charting package works best with model? Does Elliot Wave support this model?
