Here’s a couple of good ones I think…bearish butterfly on the m5 and a bearish gartley on the m15…gbpusd…let’s see what happens…
HOPE I can get an entry! I think I just started!
HOPE I can get an entry! I think it just started!
Looks like it worked eh!!
Optimal entry was at 146.80, but I saw it late too. Jumped in anyway at 146.68…so got up around+15… but this would have been +30 already if got it at optimal entry.
It would have hit 30 yes! I’m letting it cook while I make dinner…lol…but I’m seeing that trendline holding it all up and wondering if will go down some more and either bouce off it, or break thru…hmmm…
Yeah I didn’t trade it I couln’t get a better entry. I haven’t seen it until you posted it.
Good trade Seet pip!
I think I’m done for tonight see you tomorrow guys.
I love this thread!
I’m glad to see the views and response this thread is getting. I’m really proud of you guys that are posting these patterns, commenting and helping each other out. Every one here seems to be progressing quickly with their spotting of patterns and entries. It is nice to see that we all can share patterns and make pips out of them I encourage any one else who is currently viewing or following the forum to post any questions or comments. I and I’m sure others here will be glad to respond.
Happy trading, I’ll be back at 2am est for London
-Edit-
[I]The successful man will profit from his mistakes and try again in a different way.[/I]
[B][U]Dale Carnegie[/U][/B]
Just saw this on the baby pips random quotes in the bottom… feels like yesterdays session :rolleyes: I’ll have a good sleep before london heh.
Well I have to admit…I cheated a little…lol. This is that pattern recognition indicator I found yesterday. I just flipped through the different time frames of each pair and see what came up…lol
I’ve noticed a couple of things about that I’m not sure about so I’ll play with it some more before recommending anyone use it.
My internet went out for most of the day, but I set this chart up earlier and tonight when it was working again I got on to see that price filled in my prediction quite nicely! It’s not the most symmetrical, but it worked. There was even another little bounce right at the 261.8/50.0 convergence, even though they weren’t as close as I would have liked them to be.
Now it’s time to update the chart with the more recent price action taken into account (the way some of you have already posted).
About brokers, I really like Oanda, they have pretty low spreads most of the time. During busy hours and outside of news releases, pairs like EUR/USD and USD/JPY are between 1 and 2 pips spread for the most part. Their charting capabilities aren’t great so I use a never-expiring demo of MT4 I got from FXPro.
Well ended up breaking even on that one…oh well that’s what demos are for - to test things.
On to the next one.
Here’s a bearish butterfly on the usdjpy m15 that I drew up about 8 hrs ago…it’s getting there…lol
Seeing 3 patterns
Possible D between 2am-4am eastern
Possible D between 6am-8am eastern
Possible D between 10:30am-noon eastern
Here’s something kinda unique on the eurjpy 1m timeframe. I also use the 3 level zz semafor which is a zigzag type indicator. What I find kinda cool is how each point is marked with a the big yellow 3…which is an extreme price swing point within that timeframe. The blue shading is the pattern recognition indicator. Anyways up 13 pips at the time of this post…just thought I’d share…it’s like art!..
Good Morning wrtm, I see that and am currently trading the previous bearish gartley at 1.4728. [I]Actually 1.4740 but sold earlier…[/I]
Bank!
Good Morning All
Can someone confirm the following take profit levels for me (if holding beyond 30 pips)?
Fib A to D - 50% of AD, 127.2% of AD, 161.8% of AD
Thanks!
Bank
50% of AD for the GBP/USD, AUD/USD, and EUR/JPY and .618 for all the other pairs.
Thanks TMB!
Bellow we have 2 possible patterns within each other on the GBP/USD.
Starting with the Pink Bearish Gartley, 127% of CD converges with the .886 of XA. In addition, In the CD leg of the previous pattern we also have a Bearish Butterfly developing. Here 127% of CD converges with the 1.618 of XA. The convergence in each pattern looks great and each one can be possibly traded for the 30 pip goal.
-Edit-
After scanning the different markets, the GBP/USD seems to be the only market that has been moving symmetrically after the other pairs hit major retracement areas yesterday.
Here’s an important fact which you should engrave into your computer: “YOU DO NOT ALWAYS HAVE TO BE IN A TRADE”.
Don’t start getting trigger happy because your entry is too far away or it hasn’t been reached yet. There is a reason for that and I have learned this the hard way through many mistakes and losses. The market can rip you apart if you become impatient and just jump in because you “want” to be in a trade.
Hey TMB, I personally am using my previous trading method to execute trades regardless of whether the Gartley or Butterfly setup passes. So I may have entries where others are waiting specifically for these setups as was the case this AM. I do however appreciate what you are saying.
Thanks!
Bank
No problem, to be honest I needed to remind my self to be patient and what better way then to write it down? :rolleyes: