Thinkorswim Tutorial – Harmonic Patterns with Oil Futures. Starting off with identifying support & resistance from the week to frame the chart. Then a Butterfly Harmonic Pattern forming on 15 minute time frame, how to identify and then work on conservative entry strategy for resulting long trade. Using multiple time frame strategy, recognizing that on the 5 minute time frame a CRAB Harmonic Pattern was forming at the same time. A more aggressive entry strategy is discussed at this time using the xbratalgo signal along with harmonic patterns.
0:35 Framing Chart with Support 7 resistance zones
2:05 Butterfly Harmonic Pattern confirmed identified on 15 minute timeframe
3:20 Conservative entry strategy discussed
6:00 CRAB Harmonic Pattern completes on the 5 minute timeframe at the same time! Aggressive entry strategy discussed using the xBratAlgo signals on this smaller timeframe.
Paul used the daytrading bundle of trading indicators for the ThinkorSwim Trading platform in this futures trading video, check it out with other available platforms HERE