Hi wrtm,
I assume you are allready trading with a live account ? or also on demo?
hi guys,
probably not smart to go against the flow, but i have taken this one. may well fail, but a cheap look at potential upside with stop 7 pips under X.
Good result on this one. Partial profit taken at 30 pips (1.5R)
Stop on remaining position moved to break even.
not sure if this is of interest to anyone.
6 pip divergence at D, but on the 4 hr i think this is acceptable and have taken the trade.
nice job, I am trying to find these patterns still
Against my better judgement, I took this one a bit late. Thank God for demo accounts! 
does anyone agree with this?
not sure if X is valid, but itās getting kinda close.
i would only take it post cad GDP.
oh man, itās right there, with an hour until the data, so i took a small position. stop is 10 pips under X, at that distance not too much risk of slippage (famous last words)
if it gets much closer to X iāll take it off before the data.
sorry guys, this one failed as price moved 9 pips under X.
iām still in the trade by the skin of my teeth, but itās not looking good with a trendline break on the daily amongst other things.
the large bearish candle into D and looming data should have been enough to pass on the trade. poor discipline on my part.
Wow i like your chartā¦ and what is that triangle thingy? Sorry, newbieā¦
LOL been there done that, i asked the same think on page 3 or 2 haha
its just to visualize the pattern better, its not an indicator or anything
hello sir modo i think your b position is off set i tried measuring that pattern and there is no fibs overlap or convergence.
here is another pattern trading site that u guyz might wonna like to visit too.
fibpatternstraders.com
these guyz are amazing
sorry guys, this one failed as price moved 9 pips under X.
iām still in the trade by the skin of my teeth, but itās not looking good with a trendline break on the daily amongst other things.
the large bearish candle into D and looming data should have been enough to pass on the trade. poor discipline on my part.
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Another reason it failed is explained below with the aid of a chart and i hope others will learn from it
If you are trading patterns, the first thing you shd know is the trend direction, this will give u an idea if u r counter trending or trading along the trend, it will also get u aware of possible places where price could bounce
Looking at UCAD from daily TF perspective, its obvious that price was trending in a bearish channel now turned into a converging triangle, and since price was rejected at the resistance zone of the triangle, its obvious that price will most likely dip to the support zone of the triangle, which it did against all ODDs
another thing that is worthy to note is, wot are the importance/functions of this patterns or where are they of much relevance in a trend, all these will help to filter some bad trades.
for example, larry pesavento and scott carney both agree that butterly pattern formation seen at either top or bottom of a trend is a strong reversal formation, there is more to pattern than just trading every pattern seen on the chart.
hope i made little sense?
thanks
TT
iāve read about the first 10 pages of the thread, after doing considerable self research over the past few days so that i could finally start to understand what all of you were talking about. first and foremost, thank you tmoneybags for being such a great teacher, and your generousity for sharing this trading method.
i tried to apply the method, and this is what i got. could anyone verify my pattern for me, if it is a valid butterfly. the abcd lines have got great symmetry, and d looks like a very good long position to go in, where convergence between the xa and d are pretty close at 88.6% and 127.2%
chart was taken 31st dec 2100 hrs
i am looking forward to reading up the entire thread. thank you everyone.
edit: i got that -600 p/l. i made a huge mistake the other time, when i forced a pattern and the bollinger bands were strongly against me, using the candlestick trading method. i let my emotions get the better of me. i thought the price would return but it didnāt, and since it was a demo account i just closed the trade when it was bedtime for me at -30 pips.
hello and welcome nubpip,
iām not qualified to comment on the validity of your pattern, but i do get convergence to a couple of pips using your B pt. regardless of whether itās valid or not, it looks like youāre well on your way which is great!
hereās something iāll be watching on mondayās open. the pattern seems erratic, and iām not thrilled at the prospect of buying yen, but iāve had good results with butterflies showing > 0.618 B retracements and 1.272/1.618 D convergences.
any feedback appreciated.
Hey Guys,
I only just found your thread and thought Iād show you this chart of a butterfly I did a couple of weeks ago on the 4hr AudUsd after I had just been reading about harmonic patterns from a pdf.
I never even thought to place an order at āDā :mad: as I thought there had to be confirmation of a swing first. Anyway I placed the orders on the 17th of Dec (demo) and have been waiting to be filled, 1st PT at the 61.8 of X-A and 2nd PT at 127.2 (0.94283 !!! bloody miracle if it does but thats what I want to see if).
I think this is a viable pattern from what I know (which isnāt a lot) :rolleyes: and will now do my best to go through this thread and look a bit harder for patterns from now on, I have been concentrating on 123 and trying to get them right first.
Thnx for the thread.
Wally
Very funny that you just posted that!
Hey guys btw, Iām Huw, or Huwie, New to the Forex thing. Iām 18, just trying to learn the tricks of the trade whilst studying Economics! Iāve been trying to figure out some patterns like most of you, and I managed to conjure up the exact same pattern as you Wally!.
Still have a few things to get used to, I can draw the patterns (Quite accurately most of the time), however I want to be able to match up the patterns with Fibonacci points (if that makes sense)ā¦ If anyone wants to help out please let me know! 
Thanks!
Gartley on the swissy 30 minute timeframe quite close, although im unsure about which point D should be.
What do you think?
