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Originally Posted by KaMpeR
I'd really like to understand ZigZag a lot better.
Can anyone point me at a web page that has a detailed explanation of how ZigZag works or can anyone give me a detailed explanation of the 3 settings in ZigZag?
Thanks in advance.
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http://www.stockcharts.com/education...ic_ZigZag.html
It's a great tool to use for Harmonic Patterns. It is a lagging indicator. Do a search on this site for the "
Harmonic Patterns" forum. It's long, but worth it. On
page 85 is the
ZUP indicator that a Russian gentleman either created or expanded.
It's fabulous!! Do a Google search on "
Pesavento Numbers" too.
I don't really trade the Harmonic patterns verbatim because I don't want to wait for "D" to arrive. I generally trade many .786 & .707 retracements and take profit at 1.272 on the Euro 15-minute timeframe. I never trade .618 retracements. They never seem to work out for me. Sometimes I may go to 1.618 if news is underway and I'm already up a significant amount. I just move my stop to .382 or .500 I also only trade the EUR/USD because the other pairs move to much and I never can feel totally comfortable. Personally, I have wasted too much time
trying to get all of the money from the different pairs instead of truly focusing on one. I couldn't do it with the GBP/USD even though I tried. For some reason, nothing speaks to me like the Euro.
Good luck!! I wish you and everyone else many positive pips!!
