Well, I shorted this pattern and took 100 pips on the practice account
modo, what retracement method are you using when entering cd legs?
Well, I shorted this pattern and took 100 pips on the practice account
modo, what retracement method are you using when entering cd legs?
Good day everyone, here are some patterns that Iām paying special attention to.
Let me know what you think!
wrtm_19 - those patterns look good! Iāve got the first three plotted out over here with the same xabcd points, so they look like winners.
As far as number 4, I had a similar pattern marked out, but I saw mine on the 4hr (using .88994 as X (11/0/09 - 04:00), which put the projected D at .8750. Sorry I canāt post a chart at the moment, but Iām at work
** (had to remove first three quoted images due to 4 image limitation) **
Iām completely loss, are the patterns suppose to predict where the price will go
Hi Bob I havenāt seen that one, it looks good, but, here I post mine with that particular X I find D at 87.93.
Here we have a potential reversal area with this numbers. Maybe my D will bounce back from my Dā¦ My pattern is a daily one and needs more room to breath so both can be good. Let me know if I missed something about the D you told us about.
Hey, thatās my name too!
if you start at the beginning of this thread, itāll come into focus pretty quickly.
Long story short, we look for indications of where the āDā point will fall. This will be the point where the action reverses and indicates our entry point.
wrtm_19, it looks like you stretched your fibs just past A and C - was that a conscious decision?
I drew mine super precisely and see loose convergence at your D point (87.93)
I picked the convergence at 2.0 of XA and 1.618 of BA moved to C because they lined up more closely.
With your daily bouncing around the same area as your 4h, it makes me think I may be trying a little too hard to make sure the fibs line up exactly before I make a D prediction.
Hi Bob, Iād like to see your chart whenever you can post it.
I donāt strecht my fibs on purpose, itās just a quick draw, but either way I find in my chart a loose convergence at 200% XA 161.8 CD and itās located at 87.26 and not 87.50 like yours:confused:
Hereās my chart (With a creepy red circle!)
Weirdā¦ I donāt see that at all. I need to recheck when I get a moment of downtime.
Hereās a copy of my chart - sorry I had to attach it, but Iām trying to keep my day job
Lol never mind, I understand! We check that later. I canāt identify your fibs properly but what I can see is that you have a huge wick that I donāt have. Just to check, is it the eur/gbp 4hr chart?
Hmmmā¦ wonder if it has to do with our brokers? Iām on fxcm (marketscope 2.0).
The chart is the eur/gbp 4hr, drawn against ask price.
wrtm, thanks for posting those patterns.
Do not be concerned with prediction. Instead, pay attention to what is happening. When you can correctly identify what is happening, you wonāt be concerned about the future.
wrtm,
do you think eur/gbp pulled up short of D at .8834? afterall 10 pips on this timeframe is just noise.
if so, and you are looking to get long, this bullish gartley on the 1 min might be of interest.
sure we might get another fakeout and reach D, but iāll still be having a look here.
Let me know what you think![/QUOTE]
Hi Modo! To me itās still valid since it hasnāt made a significant retracement yet and as you said 10 pips is just noise, so I have my eye still on this pattern.
About your pattern Iām not sure but be careful since we have the daily pattern and a 4 hr pattern below the daily one, so I wouldnāt take long positions at this time, but it could work.
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well, c has now been broken, so that takes the decision out of my hands. probably for the best as iām not a fan of this pair.
thanks for the input,
modo.
Hallo together,
Iām reading in this thread since three days for now, and now I registered a Demoaccount 'cause it sounds like a lot of fun what youāre doing:-)
Well and now I possibly found something interesting at the USD/JPY 30M Pls have a look at it and tell me if I did the stuff right and what you think.
Thx in advance Chris
This is a bit off topic, but has anyone else noticed how screwy marketscope 2.0 has been on fxcm since their āupdateā?
Just got screwed on a gbp/usd buy because the platform moved my stop incorrectly.
hi guys,
not sure what you think of these 2 patterns on the aussie. iāve deleted the fibs for clarity, but there is convergence at both dās. not sure if x is valid on the butterfly, and c hasnāt even broken so itās a long shotā¦in fact they probably both are.
all the best.
I am taking these trades.