Here is a possible USDCHF 30 min pattern I have been watching this morning with close convergence at 1.000/.886; price not yet past B though
Edit: pattern may fail due to C leg retracing back up or changing the possible D when it heads south
hey guys, thought iād share my analysis of the GU with youā¦ maybe because im about to knock out to sleep and the pair is reaching a critical area in price!
the first chart is a possible set up on the GU H4 TF. it is a bearish crab but the numbers in the PRZ are not āidealā, however the pattern is still valid pending completion.
what is interesting is the second chart, on the same pair/TF, we can see two consecutive AB=CD patterns complete. the first (blue) and the second (yellow) had near perfect .707 C points which completed 100% CD at exactly or approximately 1.410 extensions of BC, which is an ideal setup according to the rules of Scott Carney (for those of you who follow him)
looking at the two set upās i am technically bullish on the pair. price SHOULD either do one of two thingsā¦ carry on lower and trigger the LONG entry for the crab pattern (chart one), or respect the consistency of the AB=CD pattern and resume a rally from its current point.
i cant comment on a 3 drives pattern much because i do not know too much about it other than ideal retracements to be 1.272/1.618 (i think)ā¦
either way, technically the pair looks a safe bet to be set for a rally in the mid term (for you day traders), possibly dipping through the 00 barrier and setting north. however, it is thanksgiving in the US and with the hugely fundamental week weāve had, im only watching the market until Monday (as opposed to getting murdered by it, as i have been successfully doing this week!) :mad:
anyways, like i say i could be wrong, just thought iād add my thoughts so that the more experienced traders may correct my logic if need be.
http://my.jetscreenshot.com/4521/20101124-o5yj-125kb.jpg
http://my.jetscreenshot.com/4521/20101124-0m5d-118kb.jpg
peace!
lil pip, i think this is what you were trying to illustrate, right? but i think there are other patterns in this graph, i was thinking about placing a pending buy order at 1.56483 and pending sell order at 1.59731 at the pink box, placing a 50 pip SL, obviously with good MM, any thoughts?
What do you guys think of this analysis i did on the eur/usd pair, i actually went from monthly to weekly to daily timeframes, havenāt looked any further than that, but it looks good, btw thank you TMB for starting this thread, iāve learned so much already from going through this entire thread which took some time, but also the book Trade what you see and the other book The disciplined trader, (havenāt read it yet, but its on my desk) ā¦ and i want to thank everyone else too for keeping this thread alive, hopefully itāll stay that way, what iām going to do is, iām going to start going through all my charts and do analysis on it, iāll post my results as pictures, if any1 disagrees i would like the reason why, because i am still in the process of learning, but i see the patterns everywhere now and i see what everyone was talking about, its true, it does take some time and some learning 
Now i believe the next task is to psychologically prepare myself for trading, because iāll be staying at home for a year and full time trading using harmonic patterns, and i hope that book will help me and guide me in that, the one i havenāt read yet, āDisciplined Traderā
Keep up the good work fellow traders
I read one of your posts to which you saidā¦ that you keep your Target at 30 pips and will increase the Margin fo higher Profits. Iām new to Forex, could you please explain what you mean exactally? Thanks for the help - Mike
One that I am watching possibly for next week-convergence @1.27/1.27;fibs are right on-thanks TMB for the tip on snapping them in place in a post awhile back
NZDUSD 1HR Gartley
Price has been going up and hitting each fib and retracing as it continues to go up (1.27/.382, 1.618/.500); there is convergence at the higher levels (2.00/.618 & 2.618/.786) as well
As always if someone sees something that does not look right feel free to correct me
hi manā¦nice one
unfortunately this pattern did not get triggered ā¦the 1.3000 area was a strong support and it didnt alow price to do 20-ish pips it needed to triger itā¦no suprise if it come down again and hit the convergence lvlā¦happens all the time on smaller tf
BTW i did the sameā¦i stayed at home for almost a year learning 12-14 hours a dayā¦good luck with that,it will BOOST your lvl
a tip: save all your setups as pics positive/negative -all ,and study them afterwards-it helps alotā¦and buy yourself a nice chair ā¦lolā¦ your back will suffer if you donāt:D
bye
hi Dbear,ive seen this pattern as an option,but the think i dont like about it is the X ā¦we will see
Ya the X is a bit iffy, I redrew from the bottom of that leg around .87721 but the convergence is not great; I like your tip on getting a good chair
im riding this pattern for 3 days already and managed to build 3 nice HYDRA heads 
By null at 2010-12-02
By null at 2010-12-02
4-th head triggered some time ago so now its not a baby hydra anymoreā¦its a monster lol
5-10 pips away from exit now and its nail biting experience
cashDemoN
thx for posting this I took the trade as well but my X was lower so it was not a butterfly; would like to know how you picked your X; I know that your X should be an extreme; I get that but how extreme is that; are there other factors you take into consideration, thx in advance-those other pics you posted of the hydra are wild
thanks, i realized i was off by 18 pips, i actually had a pending order in place, but like you said it didnāt get triggered, but after the candle on the up move formed, it gave me a reason to buy, i went down on a 5 min tf and spotted a butterfly, which took the market up, currently iām up roughly 90 pips on my trade, iām trying to figure out if i should stay in it or get out, although you can see where i labeled my target to be if i trade on a daily, 90 pips is good i think but my sl is 150 going back to that support where candles turned.
btw its already boosting my confidence lvl a ton, i feel good and very comfortable trading these patterns compared to useing indicators in the past, and on top of that iām always calculating my risk, i got my calculator handy to do that
about your advice on printing my charts, iāll have to hook up my printer to it or i can just save all my patterns on paint on my computer and go back to them, thats a possibilityā¦ i think iām actually lucky to stay home for a year and do this, because i have a ton of student loans and other loans which my parents are going to help me out with meantime, i am only 21, started doing this in march, didnāt succeed that well, blew out 2 of my accounts, real money accounts, tried robots for a while, thought for some time i could find that holy grail robot, lol didnāt work out as planned, so now iām back to manual trading which iām actually having lots of fun doing, but not before, i think all that has to do with those laggy indicators, i guess i just didnāt find my style of trading until now
btw, i have a nice big comfy chair
cash demon, this is the butterfly i was talking about, and the funny thing there is another pattern that formed right after it
hi manā¦ i was wrong,you were right
i spoted this pattern at the last minute and i jumped in to/big mistake/
now im out with 32 pips and i was looking at the chart and realized i drew it and posted it wrong.
It is a gartley setup.
no other factors:D it was my mistake
sorry:eek:
hi infoman 
nice oneā¦i didnt spot this patterns because i was bussy biting my nails on another trade lolā¦and i didnt search for setups today
again nice trades and good luck
thanks iām trying to get really good at it like TMB, i wanna do this professionally the rest of my life, or until i get really tired of it lol
iāll try to post patterns that i see forming on here, if they are 5 min chart, its probably not going to happen but for any other tf i should be able to
Good luck to you
Alright cool, nice to see you were positive on it though
I like this pattern you posted, I saw exact same potential PRZ, but off a different pattern. Your D for this gartley lands right on 2.24 C for a 5-0 pattern, which is the most extream fib the C point could take.
Now as to the question on how high this will go, if it is a true 5-0 pattern, then your looking for a 50% of the 5-0ās B-C leg (which finishes the 5-0 pattern at the D for another PRZ) or 50% of the gartleys A-D leg, from there, what Iāve noticed with most 5-0 patterns is that for the majority of the time they will retrace back to the C point of the 5-0 pattern.
The thing is, on a 5-0 pattern the D point isnāt alwasy 50% of B-C, it just needs to pass the 50% and not pass the B point.
So, my prediction for this is that it will run up to at least 1.3622 (most likely firther) and then come back down to 1.2967.
Good luck everyone.
