30 Pips A day Keeps the your money at bay

[BankDaPips]

Hi TMoney,

I have spent some more time reading and looking at your patterns. Kindly confirm the following GBP/USD 4H butterfly.

Thanks!
Simone

[Sweet Pip]

What do we think of this 5m eurusd bullish butterfly? Sorry for the smallness but you can probably look at it on your own charts too. (Also, I forgot to move my D label on the chart before I took the pic, so it's not it the right place.)

It doesn't really have any convergences of fib lines for a D, but it looks nice...lol...whoddah thunk I'd be drawing butterflies on my charts for profit

Yes I quite agree about the danger of "price-fitting".

PS...I ordered the book too

[TMoneyBags]

Originally Posted by Sweet Pip

What do we think of this 5m eurusd bullish butterfly? Sorry for the smallness but you can probably look at it on your own charts too. (Also, I forgot to move my D label on the chart before I took the pic, so it's not it the right place.)

It doesn't really have any convergences of fib lines for a D, but it looks nice...lol...whoddah thunk I'd be drawing butterflies on my charts for profit

Yes I quite agree about the danger of "price-fitting".

PS...I ordered the book too

If I where to trade that pattern Sweet as you say without the divergence... then I would choose the 1.272 of XA as my D.

Now If I wanted to guarantee some pips I wouldn't have to even wait that long because your not to far from its 100% garltey. The BC leg you have chosen is more then a .618 retracement. meaning that it has an 80% chance of being a gartley pattern at 100% of CD which has convergence with the .886 fib of XA. The symmetry for it looks good as well. In addition, the butter fly I would wait to trade would be at the the 1.618 of XA which has convergence with 200% of CD. As shown Bellow:

[Geodawg19]

Hey TMoney and everyone,

Love the thread! I just started in forex last week and have been searching around the net for good information. Luckily I found this site and your thread! What can I say? I was hooked from the moment I started reading. I spent the whole weekend studying your method and learning all the concepts.

Take a look at this Bearish Gartley I am seeing developing in USD/JPY. Let me know what you think.


-George

[BankDaPips]

Originally Posted by BankDaPips

Hi TMoney,

I have spent some more time reading and looking at your patterns. Kindly confirm the following GBP/USD 4H butterfly.

Thanks!
Simone

Tmoney I suppose my your non-response you are saying that this pattern is incorrect and I should go read again..!!..?? No prob, I went through the thread and the source materials again and realized the mistake I was making.

[Sweet Pip]

I'm looking at this one too...bullish gartley eurjpy on 15m


BDP...he's probably is focusing on his charts and my last post kinda butted in so he just saw mine before yours and didn't notice yours...

If I may comment...B shouldn't be higher than X, and the 0 line of your 2nd fib (which goes from B to A) and then moved over so that 0 sits at C to predict the D point, isn't...back to the drawing board...lol

[BankDaPips]

Originally Posted by Sweet Pip

I'm looking at this one too...bullish gartley eurjpy on 15m


BDP...he's probably is focusing on his charts and my last post kinda butted in so he just saw mine before yours and didn't notice yours...

If I may comment...B shouldn't be higher than X, and the 0 line of your 2nd fib (which goes from B to A) and then moved over so that 0 sits at C to predict the D point, isn't...back to the drawing board...lol

Thanks Very Much SweetPip, I was wondering about that...B being higher than X...I think that is where I got it messed up. I went back through the thread and looked at those charts that distinguished gartleys from butterflies...so yes this info answers the questions I had.

Thanks Much!
Bank

[Sweet Pip]

Originally Posted by BankDaPips

Thanks Very Much SweetPip, I was wondering about that...B being higher than X...I think that is where I got it messed up. I went back through the trade and looked at those charts that distinguished gartleys from butterflies...so yes this info answers the questions I had.

Thanks Much!
Bank

You're welcome

Also, it's where D sits in relation to X that distinguishes between a gartley and a butterfly.

[BankDaPips]

Originally Posted by Sweet Pip

You're welcome

Also, it's where D sits in relation to X that distinguishes between a gartley and a butterfly.

Ok cool, I realize I see the gartleys much quicker...but overtime it should be ok . Liking it!

Bank

[TMoneyBags]

Originally Posted by BankDaPips

Tmoney I suppose my your non-response you are saying that this pattern is incorrect and I should go read again..!!..?? No prob, I went through the thread and the source materials again and realized the mistake I was making.

Heh sorry for the late response lol, but I am at a wedding atm. First of all, B can never be above X in a bearish gartley/butterfly or bellow X on bullish gartley/butterfly. This is true with C as well. In addition, I would like your X to be on a higher swing (an extreme of price), on the hourly that point might seem ok but n the 4 our chart your technically in between a "leg".