finally, thanks to the plaiedian (hope i spelt that right) or bobby who’s knowledge of carney encouraged me to find the answers i needed. you the man!
Hey there lil pip,
Fantastic work buddy 
So I’m a little confused because in the Harmonic Trader pdf, at the back of the book there the patterns. For a gartley it says AB: C should be .618/786. Then I went to harmonictrader.com and it says the AB: C should be .382/886. Which one is correct?
The C point should be one of the levels between .382 and .886.
however the ideal gartley pattern should contain a .618 C point.
that is according to the information from volume 1 of scott carneys book which is a later edition to the online PDF, im guessing he refined the numbers along the years.
Hey Lil pip,
Thank you very much for the Pattern Criteria Document! It will come in handy.
Is there a specific fib the CD retraces to?
No probs pbylina, i hope it helps!
if you look at the word document i attached, you will notice the B point retraced to just over .886 but less than 1.00 of XA. this would suggest a deep crab pattern forming. This means that the most crucial point in the PRZ is the 1.618 of the XA (white fibs). further, the AB=CD (denoted by the purple fibs) show very good convergence with the 1.27, which is ideal for a deep crab pattern. finally, the BC projection also compliments the PRZ as the 2.24 converges near it (yellow fibs).
since you have the B point and C point you can look back at the pattern criteria chart and can see that there was convergence with the 1.27 of AB=CD (purple fibs) with the 1.618 of XA (white fibs) and that the .886 B point retracement all pointed towards a deep crab pattern.
so you have identified a potential reversal zone (area between fibs where price SHOULD reverse once both levels are tested by price). you then watch the price action in the PRZ and if you are familiar with candlestick charting techniques you will notice the evening star formation that formed straight after the PRZ was tested.
all these indicators screamed out sell @ 1.5870, and by targeting a .382 retracement of AD as profit level, would have set you a nice 140+ pip attainment.
Kudos to you Lil Pip for putting in the time and effort to study this yourself! Now that’s the kind of attitude that makes a great trader!!! 
I love pictues (1000 words, you know the saying…) and always keep a laminated copy of this one close by - a generalised graphic of your word doc, minus the “ideal/perfect” setups.
Definitely recommended, to turbocharge the pattern recognition and ID process for anyone keen on trading this way!! 
Wow 140 pips is nice!
In the document it says that a Bat ab=cd is 1.27. So that means the CD leg is 127% longer then AB?
Thanks again! Im starting to get it more:)
Hi,
I have read the post on this forum and must say it sounds excellent!!
I have just also finished the Baby Pips School and it was very interesting.
I do intend to do this again but I wanted a little advice.
What books should I read in conjuction with re-doing the Baby Pips School??
If I am struggling to understand the graphs and charts now even though I have only done the schooling once, am I chasing a lost cause? I am hoping it takes longer to fully understand and that I just need to keep educating myself.
Any advice I can be given to get the best education tools I would be very grateful.
I appreciate it takes time to learn but how quick should I at least grasp the basics.
Thanks in advance.
Tommy.
thats right pbylina!
wen you draw fibs from B to A and move the tip of those fibs from A to C, they represent the relationship of the CD leg to the AB leg. when it says the bat pattern should contain ab=cd 1.27, you are looking at the 1.27 point in those fibs.
i recommend you watch the video’s TMB posted on page 3 of this thread, it really helps!
Tommy,
i would highly recommend a book called ‘japanese candlestick charting techniques’ by steve nison. i think it is a fantastic book and will no doubt help you interpret the information being portrayed by the charts. it was the 1st book i got hold of after reading everything in the baby pips school about 5 times.
hope this helps mate.
thanks for the kind words inspira. i have also drawn up graphic notes to aid the worded descriptions. i’l post it once i have added the alternate bat pattern, probably tomorrow, been a bit lazy lately!
Thanks Lil Pip, I will have a read of this! (Had to remove links to reply with your quote :~)
Thanks again for your reply.
Tommy
i have attached notes that i have made from scott carney’s books that recognise the critical fibonacci levels that need to align to correctly recognise patterns. please note that as these are my personal notes, they best portray my understanding of what carney’s literature states. any error’s are of my own and to get a better understanding, i recommend you buy the book as it is a very small investment relative to the potential gains once you correctly gauge these patterns.
i include these notes because i know how frustrating it can be as a newbie to harmonic trading to understand all these numbers and calculations, i hope along with the pattern recognition criteria word document i posted in the last page a lot of you may benefit and understand harmonic trading a bit better.
but seriously, i cant speak higher of carneys work, y’all should buy the book!
Hey there lil pip,
Once again I take my hat off to you. Yet another fantastic document that will go a long way to helping the uninitiated.
I’m currently in the process of adding chart examples to my chat room website, though I only started yesterday so still a bit of work to do.
I would be more than honoured if you would grant me permission to add your two documents to my site for people to download, as they would be an excellent compliment to my own efforts in this area. Needless to say you will of course be rightly acknowledged as the author. I’m not quite ready for them yet though, as I wish to get my own examples complete. So you have time to ponder my request
I will harbour no animosity what-so-ever should you wish to decline my request.
Some of the guys and I were brainstorming in my chat room last Friday, and we figured that some sort of ‘help’ page would be a good addition to the site. While we are more than willing to accommodate and help new traders in the chat room, it can get just a tad monotonous when typing the same thing over and over again in response to people’s questions. Hence our new ‘help’ page (currently under construction).
As you know we are a friendly bunch, and we are only too pleased to help newbies. By creating a ‘help’ page we can answer a lot of the questions newbies have, thereby giving them a little more knowledge and confidence when they come to the chat room. I feel your two documents combined with my chart examples would go an awful long way towards educating the newbie in this style of trading.
Once again, fantastic documents buddy, and more power to you my friend for your perseverance and willingness to educate yourself on Carney harmonics.
Your gesture of posting your documents on this forum for the sole purpose of helping new traders is extremely commendable, and the sign of a very kind soul.
You the man
Thank you for the kind words Bobby, its a nice feeling being acknowledged by my seniors and it will do wonders for my trading morale if you deem my notes good enough to post in the chat room. you are more than welcome to use any material i have posted in the chat room! i figured most traders in the chat room have originated from baby pips so decided to post them here first since its easier to point anyone interested towards them.
i love the idea of a help page in the chat room. i’ve been away this week catching up on my reading as you know, so looking forward to logging back in tomorrow!
cheers pal
ignore the blue pattern… looking at the bullish pattern outlined in yellow, it seems a nice bat pattern developing. the b point is below .618, the c point is between .382 and .886, the primary PRZ is very tight demonstrating excellent convergence of the .886 XA retracement, 1.27 AB=CD and the 1.618 BC projection.
might wanna keep an eye on this one over the Asian session. im hoping to catch the business end of it during the London session! lets see what happens…
heres a deep crab on the EJ, H1. .886 B retracement, so would look for a reverse at the 1.618 XA. however, this pattern needs to be monitored for clear revresal signs as it isnt an ideal setup with regards to symmetry and the PRZ is around 17 pips, since a deep crab should see a 1.618XA, 1.27 AB=CD and 2.24 BC projection.
the shaded box highlights the PRZ, including the 1.27AB=CD. might wanna watch the next few bars, ideally price should test the 1.618XA before reversing.
http://i880.photobucket.com/albums/ac6/m100nja/EJdeepcrabh1-1.png
Pleiadian how do i locate the pdf am intrested.
Hi KEZIRI,
Go to Scott Carney’s website, ‘Harmonictrader’, and you’ll find it on the home page.