Hey All!
Just wanted to call attention to two of the three patterns I presented earlier in case they end up playing out and could make everyone some pips 
The EURJPY ended up forming a solid “C” and is moving upward, it still has a bit of a ways to go but the AUDUSD pair is coming close to the “D”. Take a look and let me know what you think
Thanks!
racerdude777
Hi Racerdude,
The ej could coincide with the second D on the cj i just posted. I don’t get quite as strong a convergence on the au as yours, but that’s not to say it’s not valid.
Both your D’s are at the 100% XA, which personally I find hard to take, given all the stops above X. But that’s just me…paranoid, and it in no way invalidates your patterns. Maybe if price broke X I might enter at D on the way back down.
I tend to favour the cj tho, as it doesn’t have those complications, although some may question my X, I’ll definately have a lash if we hit D after ftse open.
Thanks for posting your patterns, and good luck with the result.
sorry guys this was not the optimal pattern as there was convergence with X on the outright high (thanks for pointing that out to me Ogna).
so please disregard my post (not that it looks like it will get to that D any time soon)
here is the pattern as it should have been. my only trade for the day…good for my 33 pip target.
i hope some of you got the uj, not sure why i didn’t take it with two patterns lining up there. ogna i know you got it, aarnog i hope you did too. racerdude, great stuff on the au…balls of steel, i was tempted to short it but it was just a bit too volatile for my liking. pretty soft hey!
As Modo mentioned, the AUDUSD ended up turning as I projected and gave me a nice 30 pip profit before it reversed again. The pattern on the EURJPY has failed as I had it outlined so I will have to look for something else there. Attached is a copy of the AUDUSD chart
I’ll be keeping my eyes peeled for some upcoming
Good luck
PS: Good job getting your’s Modo on the CADJPY!
Found a few, check 'em out!
#1 CHF/JPY 60 minute - this guy is pretty straightforward, really.
#2 EUR/JPY 60 minute - you can’t see it in the screenshot, but I have some really nice convergence at the 135.13, as well as the 134.39 level. I’ll have to babysit this one if I take an entry at the first fib, although it looks like the 135.13 level is near a resistance level for the pair, so I might just sent an entry there.
#3 EUR/GPB 60 minute - You can see both of the levels that I found excellent convergence at. It looks like the .8851 level is acting as support, so I’ll probably enter around there.
#4 EUR/USD 60 minute - perfect convergence here at 1.4422-ish mark, but there’s also some slightly less perfect convergence at aruond 1.4385. Again, I’ll definitely be babysitting the entry on this one if I take it at the first fib, maybe make a double entry on it.
I’m pretty sure about these patterns, but I don’t like how 3 of them have 2 solid convergence points.
Thanks Aarnog, the eu looks great. Old resistance may form support at the first D, however trendline support lies at the second D. So I agree that you would want to see some additional form of confirmation such as candle reversal before entry, and even then I’d probably be more comfortable waiting for the second D.
I don’t get the same convergence on the e/g or chf/j as I’m using the ask for long patterns, but it’s not a huge difference.
Thanks again for posting.
All the best.
Hey Aarnog,
I noticed this bullish butterfly on the eu 15min. May make 1st D on the hourly more attractive. Just thought I’d pass it on.
here they are together,
i’m still not totally comfortable with it given whats going on in the eur/gbp and the probability of a fakeout through the figure into london open, but if there is a candle confirmation at the right time of day i might take it.
please let me know if you see any flaws.
there is also this weak butterfly on the eur/aud 30min.
4 pip divergence at D, but the 1.618 has been respected twice, and it may add some weight to the possibility of the euro firming up somewhat.
fundamentally i hate the thought of buying euro, but there may be 33 pips in there somewhere.
trade what you see.
Taking a look, I came across this one on the 15 minute AUD/USD.
Perfect convergence of the 1.618 CD with the 0.768 XA
Close convergence at a lower point of the 0.886 CD with the 0.500 XA
I drew the pattern to the 1.618 as I figured this would be the safer bet but would like to understand which would be the best bet here. If anybody has some light to shed on the selection of a “D” when you have two separate convergences that would be much appreciated
Thanks!
Racerdude777
Hey everyone im in a time crunch but there is a possible one on the usd/jpy X is 90.72 the b leg is near ,886 but it could be good.
Hello:)
What are the major fib retracs level for the majors? I think i read Moneybags said the eur,gbp,aud/USD retraces at the 50 level, the usd/chf at 61 and the eur/gbp @ the 78! dont know the usd/jpy though. Am i right? just nailed last weeks 50 line on the eur/usd:cool:
Ill say it again the fibs are really something, and i can see the merit of not chasing price:p. Excellent thread, and on behalf of all the lurkers, i cant wait for Moneybags to come back and post his trade signals lol:cool:
Sorry guys the week got a bit busy for me and I couldn’t keep up with my posts of trades. I’m just glad the weekend arrived giving me time to spend not worrying about anything, but come 2pm tomorrow it all starts up again. Let’s make this another good week! And with Tmoney coming out with new updated rules soon, I know I’m anticipating an awesome week!
4 pip divergence, but on a 4hr pattern maybe worth watching.
also this on the cable, but it’s a long way off and maybe better looking for short patterns on this pair.
and two possible shorts on the cable (different B’s). not sure which (if any) is correct. leaning towards the first.
ok guys, sorry to be a pest, this will be my last post for the day i promise.
but this is my best contender for london open.
i like convergence at the .786/1.272.
appears longer term butterfly from friday might be valid.
relatively cheap stop (approx 30 pips to X) in relation to potential return (although i would only be looking for 33 pips).
one problem for some of you may be the spread on this pair.
Hi all,
Is my first posting of what I have learned past weeks.
Hope I am drew it correctly and applied all the fundamentals
required.
Please comment any mistakes honestly.
Hi Modo,
How do I post a picture like yours?
Mine turn out to be thumbnail.
Make an account with photobucket and use the img code when you upload then it will be nice.
