Harmonic Trading Scenarios

Where do you put TP1 and TP2? Fibo number?

@bhowe, 38.2 , 61.8

Just confused by what you mean by "Open 1 trade with %" risk management%" then you go on to say "if you open, 1 trade you will close half at TP1 and then move stop to Break even at TP2 close other half". What I don't understand if you "open 1 trade" how can you move stop lose to breakeven if the target has already hit?

@uakpan, I think he is saying, open the trade at point D with a 2% stop. Then, if you don't get stopped out, the trade should go to TP1 at which point you sell 1/2 position. Then you set stop at entry point ffor the 2nd half of the position (even). You sell the 2nd half at TP2. What he doesn't say is where to set TP1 and TP2. I assume its at 38.2% and 61.8% retracements of CD. Not sure though.

Point D will always be at 0.00% or can it further expand ?

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