Folks, here I will share my 3 months of intensive work on Harmonics. I have following Harmonics and have seen that is very powerful in identifying support and resistances which could be used for making investing decisions.
Presently, a lot of investors depend on basic methods of identifying supports on charts. Some of them are
- Moving Averages
- Trend Line
- Cross Overs (Super Trend)
- Candlestick patterns (not much common)
But there are major shortcomings for the above methods
- They generally lag in giving alerts.
- It is not possible to predict supports in advance using Moving Averages
Now I will show some examples of harmonic investment charts which we have used in past.
KEI Industries
Prestige Estate
Piramal Enterprises
SBI
Tata Motors
ICICI Prudential Life
Above charts are a small glimpse of effective investment decisions which we can make using harmonics.
At last, I will say that Harmonics will not be correct always but it will be accurate most of the times. Harmonics accuracy is very good in trending and range bound markets.
Most of our investments last from 2days to 3weeks which also helps short term traders to book profits. In the end, I will add that our SL never got triggered most of the times which helped in good risk management.
Happy Trading.