Hey DrGoodPips, I drew your pattern for you. It looks like it may already be on its way down. Wasn’t too sure about trading the pattern though because I Had to draw the XA from base to wick and the X doesn’t seem like all that much of an extreme so I’m a little tentative about it.
The reverse head and shoulders has me a bit worried also. However, the stochs are indicating over bought. I am hoping this is true. My trade is currently even, so only time will tell from here. Also, convergence was not perfect, but close enough for me.
Also just spotted the following Gartley on the USDCHF, H1
X = 03.31.10: 0900
A = 03.31.10: 1900
B = 03.31.10: 2200
C = 04.01.10: 0300
convergence for D appears at 50.0XA and 161.8CD. Stochs are indicating over bought, so I will be on the look out to see if price makes it to D.
Again, feedback on the fibs are always appreciated. Hopefully this one is a bit more clear.
Thanks for th chart charlesmneo. That’s what I was looking at. I pulled X back to 10.26.09 which appears to be a better extreme to me (still working out the kinks) and the 038.2XA is close to convergence with 100.0CD. Maybe I am reaching here, but either way I am in the trade. I will keep everyone posted.
By the way, I am getting a new computer this weekend, so hopefully the pretty charts will come soon also.
Yes, I think the fib convergence requirements are a little stricter on this thread given the nature of the initial 30 pip targets, but I have noticed other pattern traders are less stingent…still with good results. That really is a nice abcd and even if it is a h&s we could test neckline. Good luck with your trade.
One other plus it that uj 8h is right at the D identified by charles yesterday(93.75), so perhaps yen could rally soon.
My charting system just crashed right as I entered the trade for my major USD/JPY short I posted last night… so now I’m scrambling to get all my charts back together. I’ll try to chart your USDCHF pattern for you in a bit Drgoodpips.
haha, that’s a good thing, i often turn off the pc as soon as i enter a trade.
Lol, yea that might be a good idea. I still needed to set up a stop/limit though. 
Also drgoodpips I tried to chart your usdchf pattern but saw no convergences. Not sure if I had the pattern you had in mind though because we have different times, but I drew the only gartley that I saw possibly forming and saw nothing.
Looks like strike two for me tonight. I guess it is time to retire until I get the new computer so I can post the graphs. Thanks for everyones input.
Fantastic trade on the uj mate, congratulations. Same to you on the ej Dr Pips.
hi guys,
not sure if you agree with this, but it’s basically at D now. i can’t take it because i’m not trading until tuesday…kinda sux.
that pattern looks good Modo, I’d trade it but my broker doesn’t offer CAD/JPY lol. And I got so lucky on the usd/jpy trade… Price shot up to 94.00 right after I got 30 pips. Now I feel like I only profited from the trade because of pure luck and not because there was a pattern.
perhaps consider the gbp/jpy daily pattern i posted yesterday post #2759
yea that pattern looks pretty solid, I have a price alert for it, its getting real close. I’m afraid it’ll hit around fake out hours.
Hello i did enter that trade before, where was some fib confluence around 0.618.
I have my stop adjusted to take in account the other trade too in case price is going up. TP no decided yet.
Great stuff mate, hope you make lots of pips.
Anyone seeing any patterns tonight?
Nothing tonight. I am staying away due to freaky Friday. Although the daily GBPJPY is looking good from the previous posts.
what do you think? EJ
Im not liking it, it just an AB=CD with 1.27AB as D, and no confluence with other fibs. Definetly i will not play it, there are much better spots, but it can work somehow, but SL & TP difficult to calculate.
Hello i closed my gbp/jpy trade.
1/2 half was closed with +41 pips. The other one was closed with +3 little pips just after NFP release. (Actually i would have love to see a bad NFP numbers) But was not the case.
Now the pair would be in a good situation for short again if i would not expecting a non-risk adversion week.
Maybe i will short it with very low risk and small position. :eek:
