well, so much for my weak dollar theory, it looks like the kiwi projection is/was a pipedream. oh well, no position no harm.
this on the eu for any knife catchers out there. good fib credentials for a butterfly, but obviously a lot of reasons not to partake.
This is clearly miles away, but does not bode particularly well for the ej. D coincides with old resistance/potentail new support on the daily. I shouldnāt post patterns so far from D as they invariably get invalidated, but i couldnāt resist on this occasion. (at least it has exceeded X)
No more posts from me today, iām over the limit.
Hey man I do like this one very much.
I find many convergences on it and looks like there could sign the end of a wave 5. Good call. Thanks for sharing.
maybe off topic, but the AC that was noticed as S/R, I also did see here.
GBP/USD 30min
edit: image disappeared? . . . re-attached
can any one help with how to place a trade as regard to the convergence am realy having a hard time placing my trades curently i place 5 pips before convergence and i still miss out on trades by one or two pips. what should i do? Any advice would be highly valued thanks all.
Hi Keiziri,
The ideal should be to place your entry right at the convergence point. A little bit below if your spread is wide.
Sometimes the retracement occurs a little before the convergence point, sometimes after, thatās why itās important to stay close to that point.
If your entry was missed, no problem, wait for the next set up. That will keep you away from trades with a not so good risk reward ratio.
Thatāll be my advice. 
Keziri, I actually do the sameā¦ and experience the same, about 5 pips prior to the convergence, but definitely, if it doesnāt hit, it aināt worth it. 5pips is way far from the convergence IMO. recently, what i usually see fails (pattern fails to successfully form more often that getting near my target) :(, now isnāt that worse? lol
Post some charts too, maybe we can take a look.
Hello,
I will like to thank TMB and his cousin for sharing their trading strategy and you guys for building this thread up ! itās really helpful !
My question: where is the best spot to set an entry point, is it 30 pips before or after the D leg ?
THANKs
it is pretty painfull to watch patterns fail and make no trade for the day. How do you get over it?
Hey, nice to know am not alone. Am off for the weekend, i will post some charts next week. Great weekend:)
Graze, first post eh?
I remember someone in this thread recommends: you put your entry in the middle of the convergence.
WELL, it REALLY is frustrating when it fails you know. But I only look at GBPUSD at the moment, Iām not done with the book (Pesavento) yet, maybe if Iām done with that, Iāll get to see more patterns on other pairs (have more time looking).
As I notice though, several of us here scan numerous pairs to get a pattern. I notice that everyday, they get to see more on JPY pairsā¦ hmmmā¦ I donāt actually tally them though, so Iām not sure if that observation is accurate.
That is why weāre all here. With a solitary profession like this? Geez, I donāt know when will I get a psychiatric consultā¦ itās good we have babypips for some community support. 
Well you donāt have to always be in a trade. Remember that sitting aside is also a position.
So donāt rush things, there will always be another opportunity. 
yep! havenāt traded since yesterday. no patterns, no trades.
how many pips away should my stop lost be set at ? Last night I traded the eur/usd set my at 40 pips I got stopped out and it just went up again ! Not too happy right now, I canāt save it or else I would have posted it here
Depending on the pattern and timeframe but if it was on the 30 mins or one hour, 40 pips is really far, maybe 20 or 30 pips is better. Even though price went back to your direction it doesnāt mean the pattern worked. The important thing here is the reaction to support and resistance.
Daily patterns are something different since maybe price could react not so fast.
If you can try to post your chart.
It was a butterfly pattern (meaning bullish trend) and 30 mins timeframe but I mistake was I think jumped in too early because the pattern did work.
Now as for posting it, I wish I could but my forex chart program doesnāt let me save it properly to do that, my main trading platform will so next time I will do it from there instead
You could take a picture of your screen using the print screen option.
Did you go long?
