Hi everyone!
First sorry for my grammar, i am from Slovenia.
Being into forex for about a week, so you guess im real newbe.
I am taking classes here in Babypips and i got to HArmonic price section. That does not mean I have perfectly learned previous sections, but i will go through whole school many times. I opened demo account on FXCM trading station and i am playng arround, guessing, watching for different patterns,…
SO Here is my question. Looking at USD/CHF H4 chart, zooming out to 1st of December 2010.
Is this Picture showing possible bearish CRAB pattern? As you see i have used fib. Have i used it right?
So i hope its not dumb questin and i look forward to your answers.
Regards, Arsnuova.
Hello, [B]Arsnuova[/B]
Welcome to this Forum.
No need to apologize for your English — you write better than some people who were born here.
And, there are no dumb questions. Sometimes there are dumb answers, so watch out — but, no dumb questions.
Regarding your three fibonacci’s, they are correctly drawn.
As for crabs and bats and butterflies, I’m not a Gartley expert. But [B]Sweet Pip[/B] is, so I will give her a nudge, and ask her to come and help you out. She’s pretty good at that stuff.
Hi Arsnuova
Here is a visual for the bearish crab pattern:
The only concern I would say would be where you C point is which seems a little low. However, sometimes it’s not a perfect world and if price does reach all the way up to your D completion point which seems to have good convergence with your XA fib within the stated fib levels, then maybe it doesn’t matter.
A good place to learn more about the harmonic patterns is on the 30 pips a day thread. Just read the beginning post for a bit where most of the info is…the rest then is mostly examples of the participants doing exactly what you did… asking if they were doing it right.
Well, thx both for quick response. Yes i was also indoubt about C:) Well it seems i see whole lot of different patterns out there and im getting very confused hehe. The most patterns i recognise is when its already too late to move in. To be honest im not doing very well. I catch myself guessing too much when to enter. I follow all recomendations about risk as it would be real money so no worry for now. Are last few days hard to recognise signs for pros also? I have to learn a lot i see;)
Thanx again and hope to hear from you again soon.
Oh sorry, can you post link of 30 pips a day thread?
Yes that’s it… thank fihunts. The search feature seems have fallen short of finding anything since the new forum was introduced 
Oh and I meant to type to read the first few pages of posts…not just the first post :o
Hi again, Arsnuova
It sounds to me like you are making fantastic progress, for someone who has been learning this for only one week!
And it sounds to me like you are expecting way too much of yourself. Nobody can become a consistently successful forex trader in a week, or a month. Most newbies require a year or more to become consistently successful. You appear to be way ahead of most newbies in your learning — but, still, it’s going to take more time than you think it will.
Good luck with the rest of the School.
And don’t hesitate to ask questions.
Hi, Cilint. Sorry, I was in the forex whole day yesterday hehe. Thx to Sweetpip for link. Oh, believe me, i know what learning is:).We learn till we die. Well, im that kind of person who is expecting most of himself. But that does not mean i do not believe you Ill ned about year to learn forex trading. Im gonna show you, where i took my profits yesterday, the other pair was not so good;)
Conserning patterns, especialy animal, how much trend can be expected after pattern forms in perspective to pattern? Thx for any further replies.
My profit was When i saw Inverse head and shoulders I set -30 pips stop loss as i expected 60 pips profit though i have not set limit as i was not shure. I have not got till 60 pips, couse trend reversed so i took about 45 pips on exit. Enough for newby.
On the second pair (Eur-Chf) i have learned to wait for pattern to finish. My first though profitable mistake was not waiting for pattern to finish so i entered at .382 AB (not too smart pros woul say and me to heh) I took nice profit to 2.24 BC. Tehere i exit. I think at that point was some of Pivot resistance point so it makes sense. In the other hand i went short at this poin as i was shure im o an big win here as pattern finnished (kinda). As i saw trend moving further i haven exit but waited to the next resistance Pivot. There have to be return point. BAM!!! I exit above that point somewhere nothing to say anymore.
Lol, funny, but so true!