Excellent! 
Convergence looks good, but I wouldnāt trade a bullish pattern in this environment, esp when the markets are trending heavily downwardsā¦
Good call swallowtail; it did bounce, but in a real ugly manner, and ended up requiring a 40pip stop loss to stay in the game 
Thanks for the feedback!
I redrew the eurusd pattern using a more extreme price as X and also got convergence at 1.618 with .50XA
usd/jpy failed
Itās all good piporama, practice makes perfect, weāre new @ this, weāll get better with timeā¦
The question is do we allow an AB retracement of less than .382, and therefore allow for more extreme Xās, even though the resulting pattern is not technically valid, or locate a lower X which causes AB to come within the prerequisites defined for known patterns; or simply look for as many confluence zones as possible? Iāve read Carney (running through Pasavento now), have the patterns printed out in front of me, but would love to hear feedback from those of you who have experienced success in these āgreyā areas
P.S. thanks for the kind words swallowtail
Youāre right on the money piporama. I think TMB said that the B leg had to be atleast a .382 of XA, so that would invalidate my chart, as well as your usd/jpy chartā¦ But iām curious to know what takes precedence here.
Totally! All the primary (Gartely, Butterfly, Crab, Bat) patterns have an AB retracement range of .382-.886ā¦though I believe there is still a great deal of possible validity in the PRZ (in our charts) when considering only confluence/convergence areas. I hope Iām not diluting the purpose of this thread, and apologize in advance if this is the caseā¦
For the record TMBās methodolgy utilizes an AB retracement of .236-1.0 (TMBās āRules of the Tradeā, point #4); so it would appear that, while we are - as far as I know - not utilizing pattern constraints in the purest sense, but rather more of a hybrid approach which, if it ends up being a genuine pattern, then great, otherwise we are concerning ourselves more with the concept of general confluence zones. TMB, if Iām completely off base, I hope youāll take a moment to clarifyā¦TIA!
EUR/USD M30
Possible opportunity, could find additional support at ascending trendline AND Bollinger bands; happy trading allā¦
[B]Failing! Bernanke speculation probably affectingā¦also, weāre in āfakeoutā time (thanks TMB!)[/B]
as far i kno from this forum and some trading books i study for these patternsā¦ minimum requirement for the AB leg is atleast .382 of XA, below is not a strong signalā¦ `Typically AB is .382 or above of XA``
gud luck n happy tradingā¦
USD/JPY M30[/U][/U]
Good morning all!
There are a couple of possibilities here. Using strict pattern boundaries, we end up with a bearish butterfly when using X1, which coincides with a prior swing high (yellow horizontal line); or, using a more extreme X, but maintaining a minimum āBā of .236 (as per TMBs methodology) we end up with good convergence/confluence at a lower point than the completion of the previously descibed pattern. What I like about this one is that itās (possible) completion coincides with the 200SMA (the blue descdending line) AND what a prior S/R line/range; specifically the 3 purple lines, the bottom 2 represent the lower shadows of a bounce which happened May 5, the upper of the 3 is the lowest close from those 2 sessions. The really interesting thing here is the 65pip upper shadow which occurred earlier today, which just happens to pierce the upper purple line before receding.
Personally, I like the second option better - thoughts?
P.S. Does anyone know what might have caused the āspikeā I mentioned earlier? Did Japan, at least verbally, intervene in an attempt to raise the currency value? Donāt quote me, but I recall reading once the yen MUST be at least 80.000 for Japan to be competitiveā¦? (answered my own question; appears it might be the threat by Moodyās to downgrade US from Aaa to Aa statusā¦)
Sterling H4 Bearish Bat
Perhaps X is a tad too extreme? We had a real nice bounce @ 618XA/161CD (blue circle) for 90pips, so perhaps this bat might formā¦happy trading all!
EUR/CHF H1/M30
Lots of potential 
Main opportunity I believe is convergence of two patterns just below 1.16400ā¦happy trading all!
Thanks MrPippps
Sad, I had such a good time reading this thread (and it was a loooooooooooong read); only to find it may be dead 
Cāmon people (aside from Swallowtail and MrPippps), letās hear from youā¦or at least tell me where you all went :32: