just re-drew and it seems ok, unless i’m doing something wrong.
i like that the B retracement is at the .786, but there is a pretty major previous low around 90.50 which will probably have a few stops under it, if taken out could let go another 20-30 pips.
Your setup looks fine to me modo, quit being such a pessimist all the time ;). I find it interesting that your setup on audus, and my setup on usdchf are aprox the same distance from hitting our targets currently.
sorry, you’re right, i always talk my trades down and expect the worst…just easier that way
well, i’m set on the uj stop at 90.06, nothing more i can do…goodnight.
If you had a 30 pip limit order you backed a winner. Good spot.
Just a repost of the classic ABCD bearish pattern with a D of 1.48848 which may still be on the cards. Getting pretty close now and I’m thinking about giving it a go if it reaches the point.
That level also corresponds with the 0.236 Fib level of 1.48902 from the 1.70416 - 1.42256 decline which can be seen on the daily charts.
Modo, here’s your USDJPY chart for 1h
And here is mine
As you can see your A spot is much higher than mine on the charts… how come two charts at the same timeframe are different??
Possible bearish Gartley forming on NZD/USD 4 hour charts. Not sure if it’s been posted or not before but I don’t remember seeing it anyway. Convergence of about ~9 pips which is decent for the timeframe I think.
As you can see your A spot is much higher than mine on the charts… how come two charts at the same timeframe are different??[/QUOTE]
no idea, that’s very odd.
here is another indication that there might be something going on around the figure in the aussie.
not sure if i’ll take it on a friday, feel the cable might want to trade 1.50 and aussie up to .8770. if aussie does break this congestion area, could easily put on another 70 pips.
I have a question to any harmonice experts out there.
Does the B point have to be the first retracement for the pattern to be valid.
Take this gbpaud for example. The literature I’ve read recommends a .786 B retracement for butterfly patterns. Can I just choose the swing low/high that is made at that point (as below), or must that .786 retracement be the first high/low after the A point?
Here’s a possible Gartley on 2H EURUSD.
Convergence not that great, but on the latest rise trend the swings obeyed AB=CD exceptionally so I think this has a chance to work
TMB has given us many examples in which he didn’t choose the first swing after A as his B point. One example
Yeah, I don’t think this is quite the same, as his B point is clearly the swing high.
[QUOTE=modo;199965]here is another indication that there might be something going on around the figure in the aussie.
well, here she goes, i’m scaling in. sold some at .8695 and order to sell more at .8705.
also bought more uj.
Hi All,
I’m a little late to the party… I’m trading harmonics as well, since the start of the year and loving them. Just bought a copy of the Pesavento book as well for some additional knowledge.
Looking forward to adding to the discussion, posting charts etc.
Like the look of this AB=CD pattern PipBandit! I don’t usually hold positions over the weekend so will keep an eye on it come Monday.
Cheers,
inspira 
Here’s a trade I took yesterday, still live, short spot Gold, bearish bat harmonic on 1 and 4 hour chart – PT 1234, SL 1255
Pretty volatile out there today with news and risk, pushing gold up close to all-time-highs. Am comfortable taking this with ~ 1:2 RRR and other confirming factors:
No it doesnt have to be the first. Sometimes its useful to find another B point to see if you can find convergence at the same D point for confirmation.
Was triggered just before 9am GMT today actually. Price went up 2 pips above the D before falling back a little over 40 pips. Nice when they work out. I haven’t being having much luck lately.
Would probably not have a go if price goes for a re-test later today or on Monday. I’m think that GBP/USD will push on higher.
Thanks modo, went to sleep with an open order at .8705, woke up with 30 pips :-).
