Here is a pattern on the 15 minute of the cadjpy that could come to fruition later on today. Convergence of the 2.00 CD of 0.786 XA is really close, within 2 pips I believe. More support that it could reach this point comes from the four hour chart posted by Modo and the turn around that is predicting.
Good luck!
that’s great racerdude, i’m glad to hear it. i was able to get 33 pips too.
the euro was even cleaner, although i didn’t take it due to position limits.
good luck today,
modo.
hi guys,
here is something to keep an eye on. possible convergence at 100% XA, but i will only take the butterfly (if it gets there…at the right time of day). even that could be risky as it’s close to the next level of stops around .9145, so be careful.
au cpi just out slightly firmer than expectations (.5 exp .4), although weaker than previous (1.0)
Been keepin an eye on this one as well
It seems the australian dollar is forming patterns with numerous pairs cuz I am also watching this one on the AUDJPY. Convergence of the 1.618CD with 0.886XA
which platform is this? looks kinda neat.
Thanks for this mate.
it’s marketscope 2.0, broker fxcm. they offer demo accounts if you are interested.
I got the same AUDUSD modo but got a different D.
D at .90510ish
I got a bit of C-D leg anyway. 
p.s. I like to draw the patterns on the ASK rather than the BID screen so maybe that might be the difference anyway I gotta go to work so I’ll miss this…
Hi Wally,
I’m a bit confused by your pattern. Is it possible you have drawn (dragged) the second set of fibs from A to B, rather than from B to A, before moving to C?
Also, I believe you should use the ask for long patterns and bid for short, as to get long you need to lift the offer (ask) and to get short you must give the bid.
Take it easy,
Modo.
Hey modo
Your right about the fibs m8 mine are upside down :o
I’ll keep an eye on the ASK/BID drawing thing but I mainly am only concerned with them when placing Limmit/Stop orders.
Cheers Wally
Ok, but the point is when drawing long patterns you are trying to determine where to rest your ask (limit) and vice versa. To do otherwise could mean missing patterns or getting stopped out when you shouldn’t.
hi there,
possibly something here, but keep in mind that there are daily and 4hr patterns below for both gu and uj, so beware!!
actually, i just realised this pattern probably played out yesterday, so please disregard.
A couple possibilities
Also, the GBPJPY Daily is getting closer to the convergence line (within ~80pips)
thanks for the patterns guys,
i just got scratched out on this monster (paid 125.39). moved my stop to breakeven when up 15 pips. slightly annoying but better to miss an opportunity than lose money.
noticed it too late to post.
Anybody who’s been trading this system for awhile:
I was wondering how you set your entries when the price does reach the convergence. I see there are two methods:
Set an automatic entry at the convergence and just wait for the price to trip the entry
Wait for the candlestick to close on that specific timeframe and then enter if the candlestick respected the convergence
What is the best method in your experience?
Thanks
racerdude777
Cad/jpy bearish gartley D at 84.96
