Advantages and disadvantages of harmonic models
Like other tools used in trading, harmonic models have a number of advantages and disadvantages as well, the most important of which are the following:
Harmonic models have the ability to provide future forecasts for the market.
It is reliable and repeatable, and the predictions it provides are always highly probable.
Many other indicators depend on their use for the purpose of confirming entry, such as MACD, Relative Strength, and others.
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It has the ability to work with all instruments in the money market and on different time frames.
The rules for trading using Fibonacci ratios are relatively uniform.
As for the disadvantages of harmonic models, they are as follows:
These models are somewhat complex.
Most models may have difficulty identifying reversal areas.
When conflicting models are formed on time frames, this is where the complexity of the models arises.