TMB and other senior pattern traders please provide input, since several possible Ds are forming on 4H NZDUSD. Which level would generate a true D in your opinion?
D1(0.7525): AB projection 1.00 converge XA .681 level as well as retracement of BC of 1.13 is in approximation. D1 has almost perfect convergence with AB projection of 1.00.
D2(0.7450) AB projection 1.217 converge w\ XA .786 as well as retracement of BC 1.414 is in a close range. D2 would qualify for Gartley structure due to .786 and AB projection of 1.27.
D3(0.7400) AB projection 1.414 converge w\ XA .886 as well as retracement of BC 1.618 is in a close range. D3 would qualify for Bat formation.
If all the Doors would open, I would only enter Door #3. Although thereās some confluence at some of the others, I favour the secondary fibs alot less = less harmonic. Also like the 00ās of 3.
greetings Inspira:)
i would watch all the convergence lvls and candle patterns around themā¦its a big pattern and can give 30 pips several times on each convergence lvlā¦
Hey there! My first post here. Iāve been lurking around this thread for quite a while now and itās been quite helpful. Spotted this setup on the EUR/GBP 4H and Iād like you guys to have a look at it and give some feedback.
Some pretty nice retracements here.
AB is a perfect 0.618 retracement of move XA
BC is a perfect 0.786 retracement of move AB
Now the problem is finding D here as there is no clean confluence. The only one close is the 0.786 of move XA with the 100% Fib level derived from B to A.
Any help here would be greatly appreciated! Thanks!
Donāt normally trade this pair but came across it, bearish butterfly; news coming up shortly for both; blue lines are daily fibs, if I am off let me know.
TMB & inspira thanks for the replies and also for the pics on the lower time frames; that kind of stuff really helps, sometimes I see the forest but miss some of the trees.
This is a great setupā¦ not only is it a 00 but a highly significant 00 being Parity!! ā¦ another 00 setup almost identical on the EURAUD h1, still in play right NOW!!
For the UDSCAD, I normally pull up a BC fib as well - youāll see it forms a tight PRZ @ 2618 with the other 2 fibs.
I have very tight convergence @ 886XA + 1618BC + 1272 AB - and surprise surprise this one also falls on a 00. Really hitting the mark the past few patterns, quite unusual!!
Yeah, some really on the mark convergences! (theyāre always welcome)
Iāll wait until you can post a chart or two. The CD leg just resumed a nice movement to the upwards. But Iām still unsure where D will appear. Any help?
Aha! Now I get it!
Yeah well, that confluence canāt lie (hopefully).
We just need to sit and wait for it to reach there!
Thanks a lot guys!
Edit:
Just a question guys!
Do you usually trade the CD leg? Especially when it has made its way past AB.
I have traded the CD leg from the beginning of the BC retracement provided there are clear confluence with fibs and with good results. Any input?
Thanks again!
hiā¦i dont trade the CD,but i know people doing itā¦i have tried to open a trade when CD pass B and is a 20-30 pips away from D? pointā¦kind of hedjing toward D and then when you enter at D if it not the true-you dont take lossā¦i find this distracting and i have stopped doing itā¦it worked good several timesā¦i hope i explained it ok : )
have a nice weekend all
cashdemon, can you add your trendline to this pattern for confirmation and possibly repost pic, convergence is excellent at 3600; blue lines are daily fibs?
hi D Bearā¦there is my setupā¦same as yoursā¦blue lines is a trend linesā¦on the NZD setup i posted earlier is yellow
i entered gbp/usd for another ride down ; )
By radofx at 2011-01-21
keep in mind that if you take the previous high for X/eur.usd setup/
you have another convergence a bit higher
I was referring to your pic in post 4659; the green arrow pointing down and the entry info off to the right; it just looks like you are already in it, thanks for the info, have a good weekend as well.
