30 Pips A day Keeps the your money at bay

[wrtm_19]

Thanks mate, I couldn’t stay away, I missed you guys.

My day only just started, but so far so good.

Great! We all need a break from time to time. Looks like you came back just in time for the action.

[maestroshin119]

Hi Maestro, I’m currently long eur/usd and eur/jpy, with a target on a major D somewhere in the 125.40 area, nice bearish gartley at that point.

Eur/usd is currently on a major daily bullish gartley, although I don’t like how fast it got completed. But your pattern confirms the bigger pattern.

I do like your former images, the big ones, you know they are easy to analyse.

Thanks Wrtm! Currently up 20 pips with S/L to break-even so it will be a risk-free. Good point about the speed of point D formation. Come to think of it, price did reach the point pretty quickly. I guess I will have to keep an eye out and maybe consider taking profit at a lower level.

As for the pictures, the big ones are really nice, but I didn’t like how it distorted the thread.

You can still access the big picture. All you need to do is click on the thumbnail (small image within the post) and it will take you to a link with an image. Click on the image and you’ll get a bigger picture. Hope this helps, if not then I will just resort back to posting big pictures (assuming others are okay with it).

Happy Trading!

[modo]

New patterns. I hope they are valid.

Currently in on EUR/USD 1H bullish butterfly. Entered at 1.3462 with S/L of 1.3445 and T/P of 1.3538. Due to the nature of the pattern, I will probably move my S/L up to a break even point and make it a risk-free trade. I’m hoping the current candle (shown in the picture) turn out to be a doji.

Other patterns were found, but probably not gonna enter until my trade closes for EUR/USD. For your reference:

1. EUR/JPY 1H bullish gartley - I’m think the D will be reached sometime tomorrow (EST here).

2. GBP/JPY 1H bullish gartley - two convergence points.

Other patterns detected (pics not included): NZD/USD 1H bullish gartley and AUD/USD 1H bullish gartley with two convergence points.

My previous attempt at posting images were somewhat sloppy. Hope you guys can see the pics above.

Hi Maestro,

Thanks for sharing these patterns. Just wondering on the eu butterfly, does the CD leg have to be greater than or equal to 100% of AB?. Looks like you are making pips so congrats.

[Hudson]

Hey,

I’m pretty new to this. I’m trying to understand how to use Fibonacci. I’ve seen videos and it seems to work pretty well, I just don’t understand how to use it. I trade with FXCM and their software is different than the ones I’ve seen on videos.

Thanks.

[modo]

Hey,

I’m pretty new to this. I’m trying to understand how to use Fibonacci. I’ve seen videos and it seems to work pretty well, I just don’t understand how to use it. I trade with FXCM and their software is different than the ones I’ve seen on videos.

Thanks.

Welcome Hudson,

Just search “gartley 222” in youtube and watch the videos posted by Tmoneybags. They will be the first to come up, and will explain everything.

[maestroshin119]

Hi Maestro,

Thanks for sharing these patterns. Just wondering on the eu butterfly, does the CD leg have to be greater than or equal to 100% of AB?. Looks like you are making pips so congrats.

No problem Modo. Far as I know and from what I’ve learned, as long as D is below B, it is a valid bulish butterfly. However, key thing that you need to realize from EUR/USD pattern I found is that D was formed at 1.272 level of the XA leg. For bullish butterfly, if D is formed at any level higher than 1.272 of XA leg (i.e. 1.000) I personally won’t enter a trade.

Got stopped out on EUR/USD pattern with only 15 pips gain. Seems like the price is retesting the bottom.

[modo]

No problem Modo. Far as I know and from what I’ve learned, as long as D is below B, it is a valid bulish butterfly. However, key thing that you need to realize from EUR/USD pattern I found is that D was formed at 1.272 level of the XA leg. For bullish butterfly, if D is formed at any level higher than 1.272 of XA leg (i.e. 1.000) I personally won’t enter a trade.

Got stopped out on EUR/USD pattern with only 15 pips gain. Seems like the price is retesting the bottom.

Maestro,

I understand that D must be at least 1.272 XA, but I also believe there is a minimum requirement that AB=CD. Here is an exerpt from the Harmonic Trader.

“Also, the Butterfly pattern must include an AB=CD pattern to be a valid signal. Frequently, the AB=CD pattern will possess an extended CD leg that is 1.27 or 1.618 of the AB leg.”

I hope I do not appear rude, just trying to clarify the matter for both of our sakes.

[maestroshin119]

Maestro,

I understand that D must be at least 1.272 XA, but I also believe there is a minimum requirement that AB=CD. Here is an exerpt from the Harmonic Trader.

“Also, the Butterfly pattern must include an AB=CD pattern to be a valid signal. Frequently, the AB=CD pattern will possess an extended CD leg that is 1.27 or 1.618 of the AB leg.”

I hope I do not appear rude, just trying to clarify the matter for both of our sakes.

Not at all Modo. Any information that I can get to detect more accurate patterns is always appreciated.

I didn’t know that AB should equal CD, but was aware that it’d be ideal if that was the case. Maybe I need to look into that a little more.

Thanks for the info.

[modo]

Not at all Modo. Any information that I can get to detect more accurate patterns is always appreciated.

I didn’t know that AB should equal CD, but was aware that it’d be ideal if that was the case. Maybe I need to look into that a little more.

Thanks for the info.

No worries. Like I said, I am still a novice so if we can help each other learn that would be great.

[Aarnog]

Alright, I spent a lot of time today doing some solid work setting up a bunch of gartleys/butterflies on a bunch of pairs. Some I like, some I don’t. As they come, I’ll post the ones that I do and do not take, the results, why I did and didn’t take them, etc. After I have done that, you guys should give me some feedback as to how I’m doing, whether you would have traded them, etc.

[Hudson]

Welcome Hudson,

Just search “gartley 222” in youtube and watch the videos posted by Tmoneybags. They will be the first to come up, and will explain everything.

Thanks a lot for the help. I just checked on youtube and didn’t see the videos and I couldn’t find his page.

The software is trading station 2.0 so if anybody knows how to do a fibonacci and can give a step by step that’d be great.

Thanks.

[Aarnog]

if you’re on a chart in tradestation, just press “f” to use the fib tool, and then click and drag to draw the fibs

[SwediChris]

Hello all.

Major Gartley on Eur/Usd soon hitting the D. Daily chart :o

//Chris

[zimbo_fx]

Bullish Bat on EUR/GBP…bought @1.1380

[wrtm_19]

It’s friday and I don’t want to hold my eur/jpy position for the weekend. Trade closed at 100 pips.

Watch for a major bearish D on the pair at 125.92. It’s possible that we found a bullish pattern emerging in the pair next week that leads us to the completion of the major D.

Eur/usd I’m going to hold that position but already is at breakeven.

[modo]

It’s friday and I don’t want to hold my eur/jpy position for the weekend. Trade closed at 100 pips.

Watch for a major bearish D on the pair at 125.92. It’s possible that we found a bullish pattern emerging in the pair next week that leads us to the completion of the major D.

Eur/usd I’m going to hold that position but already is at breakeven.

Great stuff WRTM, your shout this weekend! I reluctantly closed my short u/chf for the weekend too.

Did you notice the 3 drives pattern on the eu daily? Just another thing to like about your breakeven long.

[wrtm_19]

Great stuff WRTM, your shout this weekend! I reluctantly closed my short u/chf for the weekend too.

Did you notice the 3 drives pattern on the eu daily? Just another thing to like about your breakeven long.

Lol, no! Actually I’m not familiar with the 3 drives pattern, but it’s good to know it’s there!

Great swissy trade huh? You should be able to ride it down again next week.

[MattJones]

Congrats on the trades guys. It’s this kind of posts that make me happy I started getting into forex.

Best Regards,
Matt Jones .

[modo]

guys,

you probably won’t agree with this but i have taken it, and thought i’d pass it on for your consideration.

i have a short 1h uj pattern which factored into my short entry.

[Aarnog]

I have that exact same pattern - I also get some decent convergence around the 92.1 area that I might take if it fails where it’s at right now.