I did notice though that in the TMB youtube video, his initial retracement of B was a 38.2 of the XA and his pattern still turned into a gartley with D bouncing off the 50% line.
According to those diagrams you posted, a D can never form on the 50% line, or am I missing something or made a mistake?
upon watching the TMB video i thought i was using his method of finding the D for gartleys, by drawing from B to C but then i realized he does not draw from B to C, but does from A to B and then places it on C and watches for convergences. Therefore i must of got the B to C method from somewhere else thinking it was from TMB,
sometimes this stuff gets confusing lol. i think next week i shall just primarily use the TMB methods, and also perhaps check back on some of the diagrams you posted.
I have been trying to figure out the difference between a shark and cypher patter. They seem very similar and in the following example I believe both patterns are possible. The problem is the cypher projects D at .786 of XA and the shark predicts C (D in the cypher pattern) at .886 of 0B.
To me the convergence of the 1.618 projection of AB to C with the .886 of 0A makes me think Shark. What are your thoughts? What is the difference between a Shark and Cypher?
overall structure is fine, but you have been a bit premature with labeling your D point, as it has not hit the 78.6% of XA yet, and currently in that picture has not shown signs that it is bouncing up.
better would be to assume it is going to bounce on the 78.6
but yes. when the markets re-open again, the price well may have already hit the 78.6% and have already began bouncing up.
oh, just one more thing. your D is meant to land on the 78.6 of XC if it is a cypher you were attempting. your D appears to land on the 1.272 or 1.61 extension of XC
if it was a butterfly you were attempting [because i know the D point to a butterfly can appear round about the point where you have your D], then your C is higher than your A so this invalidates a butterfly as with butterfly’s the C has to be lower than your A
upon closer inspection of your graph it appears to me you are not drawing your Gartleys manually but are instead using the Zup indicator for MT4 or something similar. If you want to use the Zup indicator to find your gartleys I suggest you google it and go to a thread and ask for advice there where the people there are specialized in using it. I do not think anyone in this thread uses Zup.
I got a bit confused when you said he did it the other way around so i watched the video again. He draws a fib from A->B to get the C retracement. Thereafter he draws a fib from B->A and moves it to C.
To be honest i cannot answer your question about the D. There are so many ways out there and none seem to be right or wrong. TMB has a new approach to old stuff. What i recognized when using TMB’s method with convergences was that the bounce of the convergences (the move up or down counter trend) were much smaller then the ones produced by the original patterns that i posted where for example the D of a gartley always is at the 78,6% or the D of a bat always is 88,6%.
These produce a lot bigger movement and since i always aim to use physical stop losses to remove emotions from my trading i can keep my R:R ration up that way since my stop is above X.
Please, TMB correct me if i’m wrong about something but thats what i’ve come up with so far, observing, drawing and trading these patterns.