Would you mind posting a few recommendations for tonite’s London or tomorrow’s NY?
I’ve been in two trades for hours but currently I don’t have anything in my charts. If I see something I’ll post it. Looks like it’ll be a quite session. 
I’m going to probably start again Sunday or Monday again and do Tokyo and London. Will look to work the higher TF charts + the ticker.
hiii!!! another newbie here~
using the default setting of 10 posts per page… i manage to finish viewing 99 pages out of 201 pages of this topic (as at to date)… phew~
thanx all for contributing such great idea/comments…
however, i’m still confused… as how far back should i scroll the graph to find “X” - the extreme high/low of price? I don’t know which peak to choose as X
Thanx!!!
Hi Hapeace, welcome.
After some heavy reading myself over the last few weeks …lol…on fib trading, I came across a section in one book about which swing points to use. It became apparent that it doesn’t matter which order you draw your fibs…I mean drawing XA swing first, or the AB projection from C swing first.
If you could draw your AB projection fibs first, then you could look at all the possible XA swings and draw one to each. Which ever lines cluster with the AB to C fibs lines the best could be the one you’d want.
XA is either a low to a high swing, or a high to a low swing depending on where price is on the chart. So for example, if A is high, then draw your fib from A to each previous low for a possible X . If you already have your AB projected from C fibs drawn, then you can see how well or not each possible X low aligns with them. Then pick the one that best aligns and make it your X.
Not all swings move in harmonic ratios, but many do. So doing it this way I think helps find that harmony.
this thread seems empty without its host. where is Tmoneybag? the inventor of this system? I haven’t seen him making a post here after the first few pages:confused:
FANTASTIC post, Sweet Pip! I’ve always had a nagging curiosity about which X to pick. I’ve looked for harmony to support the ones I DO pick, but your method of projecting AB from C and checking XA’s against that will save me some time and make me more sure of my trades going forward.
sweepip my asocial friend have you tryed miners method and how are you doing with it so far ?
best regards
Could someone here take a look at this chart and make sure I’m doing this right? I think I found a Gartley on the AUD/CAD 1 hour chart, with some nice convergence on the .618 and .786, which makes me think that’s where the D will be. Any help would be greatly appreciated.
Hi Aarnog!
This is my approach on that pattern of yours. 
Remember that our D point must be at least the 100% fib of our C leg. Yours is less than that.
I redraw the pattern and this is how it looks. It has two possible Ds at 100% CD and 118% CD both with great extra convergences. My choice about wich D to take would be based on time of the day, price action at the moment, maybe look for a divergence, trendlines, etc. Not sure now wich D to take.
Also it’s a little soon to call that point C, it could go higher up.
This pattern goes according to a higher uptrend, wich to me looks good.
Here’s what I’m talking about. Hope that helps.
Thanks, wrtm! That helps a lot. I’m going to see if I can find 4-5 more patterns in the next little while (they may be historical patterns, if I can’t find anything current), just to see if I really understand the Gartley/Butterfly.
Great! That’ll improve your skill a lot! You know, practice, practice, practice.
Well, I finally got stopped out of this trade. Thought I might have been onto something for a while, but alas…no.
On a happier note, I did get 100 pips out of the usd/cad we were discussing, and still have a small residual running.
But i’m still negative for the week. Anyone got any nice patterns? I have some sweet butterflies on the longer timeframes, but they are a fair way from D. Will post when they become more relevant.
All the best.
So, I’ve done 4 more patterns, although I’ve discovered 2 things about myself in doing this.
1: I have a bad habit of constantly wanting to go back further to find that “EXTREME” X.
2: I overcompensate for 1:, as can be seen in some of these examples, I think.
CHF/JPY 30 minute:
For this first one I just kind of stuck the D where there was some excellent convergence (something like 1 pip, maybe 2) at the 127/61 fib levels. Obviously the blew through that level (a few times), making me think that this wasn’t such a valid pattern.
GBP/JPY 30 minute:
The second pattern, I put the D where, if I didn’t already have the information, I would think the D WOULD be. I am also not a very big fan of the symmetry of this one.
NZD/USD 5 minute:
This one has hideous symmetry. I think by this point I was just getting desperate for finding a pattern, without having to scroll back a few weeks. Now that I look at it again, though, the D may break through the 127 fib and reach the 161 fib, which would be pretty excellent. I still don’t like the symmetry though.
EUR/GBP 5 Minute
There isn’t much in the way of perfect convergence in this one, but the D did reach the 127 fib (although it broke through for a few seconds, and then reversed). I kind of expect this sort of thing to happen on a 5-minute chart though.
Any critiques would be appreciated!
Also, a question: how important is symmetry between the AB and CD legs? I’m under the assumption that it’s about a 6 on a scale from 1 - 10, where 10 is the most important, and 1 is the least, but I could be wrong.
not sure if i’ll be taking this, but it may serve as a profit target for anyone out there short euro.
please let me know if you think it’s flawed in any way.
Modo,
I had this as well. Not sure I’ll short from C, as I’m more in the business of getting in at D, but I may do so on a demo account and watch how it plays out.
haha, cmon bob, load up that cd leg on demo.
if it breaks x i have a nice butterfly we can play.
well, if you’re going to twist my arm, i’ll give it a whirl
do you often/ever trade the cd leg, modo?
no i never trade cd based on gartley patterns, but i will often be positioned on that leg from a retracement method i use.
