wrtm click on my name and i post a link in it it is post 5 in the thread that the link goes to if you have problem understand it like i did there is also a pdf i see if i can link to.
best regards
Thank Jg!, I’ll take a look at it.
Aaannd, target hit 
hi W19 i spend the whole weekend reading this tread.I am combining the ema step system with this system and it works real good i mean so good that i made 120 pips in one day . Iam just starting to learn how to do the butterfly and the other pattern. i also wnt to remain busy in this tread that i like very much.when i learn how to put pictures on the tread i would put them up. iam not computer literate…!!!
good trading
yes it is, let me know how you take this trade it could hit D during ny or london
wka intresting tell us more how you combine the systems ?
best regards
hi guys,
here are a couple of patterns i’m looking at that are getting reasonably close. not sure if you agree with them.
uj 60 min bearish gartley
au 4h bearish gartley
nice work man
hi there,
just a follow up on the above. i hope this doesn’t come off as bragging, i think i’ve been pretty forthcoming with my losers too, but i’m hoping we can look at some successful trades in order to try to learn and replicate.
price pulled up almost to the pip on the first butterfly. i was hasty in my entry and could have got a better fill on the original positon, although i did scale in an additional lot closer to D. price then easily reached the 30 pip target.
there was subseqeuntly a retest that was an opportunity to re-enter as price had not retraced .236 or AD (WRTM rule which i like and use…thanks). more pips on this re-entry
price then broke above D and depending on your stop you may have been stopped out at breakeven if you had not taken profit. personally, i carry my stop a little wider and do not move to b/e as early as some, but of course this is a personal preference.
even if you were scratched out, another butterfly formed and provided another excellent opportunity (again to the pip) to get short for lots of pips.
both patterns had short BC legs, not sure if this improves reliability of the butterfly (would be interested in anyone’s observations).
D on the first butterfly was formed on london open about 30 min after ftse cash open from memory. i like this time for D as there is still volatility but not too crazy. price also had a strong thrust then a couple of small final pushes to reach D.
sorry if this is too long winded. good luck out there today.
alright chaps!
Hi Modo…ill def be in for the UJ gartley, the 127% of AB matches with a couple of other fibs zooming out as well so looks good to me. great trades on the EUR/GBP by the way
Closed out a EUR/USD short today for 30pips - a 3 drives that is part of the huge price funnel heading for Ogna’s butterfly. got to learn how to post the charts but these were the prices anyway…price reacted crazily at the level and jumped back down
Spot FX EUR/USD 03-DEC-09 15134 £ 15104
currently looking for a bounce upwards on 15563 area on Cable as the candles react to what looks like an important support area…
I missed all that set ups!. Good for you man 
Regarding BC legs, actually a rule (if we can call it that way) for this patterns, is that when BC leg is less than 50%, D will be above 100% CD, wich many times will be the factor to make te pattern a butterfly.
But I’m not sure if this anwers your question.
Good job.
Hi Chaudmo,
You can open an account on photobucket.com, upload your images there, and then copy the [IMG] tag in your post so we can see your charts in a good size. 
Hi guys, I’d like to know your opinion about this pattern.
Overall trend is bearish, D is at 133.55, also 200 sma at that point working as resistance and some additional convergences.
hahaha “Ognas butterfly” i like that 
Hi Ogna, sorry for not answering before, I didn’t see your post early.
I wouldn’t trade that pattern and here’s my personal reasons why:
- I can’t find any other convergences at that point.
- It’s countertrend trade, and the pair has been in a strong uptrend since february/march.
- Even though that level was a resistance point before on nov 2007 feb 2008, we’re currently making higher highs since a long time ago, and trust me, I had the worst experience last august trying to short the aussie when it was making historical higher highs.
So I will pass on this one, waiting for bullish patterns on that pair.
hi wrtm, thanks for clarifying the bc leg rules. would that invalidate the aud 4 hr i posted yesterday?
also, here is something that may be of interest on the swissy 15m. i’m actually long, but may use this level to pare back the position (if it gets there go go go).
Not at all, your bc is between 50% and 61.8&, so that makes sense for the pattern to retrace at 100% CD, which is where you have your convergence, and more likely for it to be a gartley, which it is.
As far as I can tell, your pattern is ok.
thanks, i see this one as an acceptable short as there has been a trendline break on the daily.
i really like this patterns as it would break a few shorts hearts if price did trade above that recent high, clearing the way for the next move lower. hope it gets there, but good chance it wont.
where can i get those buterfly thing that everybody uses???
just woken up and my stubble has nearly grown into a beard waiting for these asian pairs to hit their targets.
waiting for EJ to hit 134 area (127 of AB with 61 of prior pivot high)
UJ to hit 8860 area (127 of AB with 88.6 of prior pivot high)
question to any of the veterans please
- what would be the signal to pull the plug on a pattern trade? ie do u have a mental time stop or just wait until the symmetry turns to spaghetti?
cheers
Oz
wrtm just noticed uve posted that trade. yeah im def involved looks good to me. I’ve never traded the asian pairs before so im a bit circumspect as to their behaviour. On a H4 chart I’d be looking to grab maybe 100 pips on a move which means I’d better be sure about the existing trend before the pattern, as usually Gartleys get you an entry back into the prior trend. Prior trend on EJ was down so I’m involved
cheers
Oz