Ask, the price hit again 100% of 0.618 for me on Usd/Cad, and i made a buy, and close my Usd/chf with -3pips.I’m guessing that the euro will go down.Now i need go to work.
Both the USD/CAD and EUR/CAD pending orders were later triggered and stopped at SL. lost 37.5 pips together. Maybe CAD is less predictable. I remembered TMB mentioned this somewhere in the early thread. Does anyone can confirm this?
Accepting loss and carrying on without fear, which is neccesary for successful trading. So I will carry on finding opportunity and set pending orders.
Yes, TMB stated that he does not trade the CAD pairs at all because they do not respect fib lines for some reason. That was probably a couple of years ago and markets will change with time, but you could definitely look at the CAD pairs history and check swings for fib retractions.
Good to know about the CAD…not very fond of it lately…but there are always patterns…
Patterns always change or adjust…so you have to figure out the current pattern…
Again, you may find a short set up for NZD/USD on the daily chart…
It seems patterns a quite repeated themselves in the same pairs. So maybe what TMB observed two years ago is still valid today.
Frustrating! My broker system is breaking down again today. I am going back to read the thread again. Just remembered TMB also used 0.707 fib ocationally. Does anyone knows why and shall we use it regularly or only for special pairs/TF/situations?
Please add me. Thanks!
gbp / jpy M30 had a great sell retracement w 127% of 0.500 , i put my entry on 118,050, SL 118,200(15pips),TP 117.750(30pips).I get a litle fake out and price hit my SL,and the price began to fall and make me crazy.
4 hour EUR/USD Bearish Butterfly, also valid on 30 min chart. Not sure if this looks right, any corrects greatly appreciated!
Hello All,
Thought you might like to see this. Gartley’s on NZDUSD Daily chart, convergence less than 2 pips !!!
Also, if you use other highs as marked, you still get great convergence.
Morning everyone,
Nice to see the thread is active again. A possible gartley AUS/USD 1H gartley is on the way. Convergence 127%CD/61.8XA, with a nice AB=CD and the potential D located at S1. if the price does not break teh resistant line it would be here in the afternoon.
Dr. PepperJunkie, nice chart. Maybe one or two days to trade this daily chart?
NewBabyFxx, I have AU set up: first chart is basic TMB style, second chart is an adjusted style…
Basic TMB setup:
Adjusted setup:
NZDJPY H4 bearish butterfly w 3 drives 61.92
EURAUD Daily deep crab w 3 drives 1.2230
AUDNZD H4 bullish butterfly 1.2890
GBPAUD H8 Bullish butterfly 1.4715
Given the high timeframe and counter-trend nature of the patterns, I consider them only as “areas to watch” and have not taken positions as yet. But I guess that depends on your style.
Hi Stupip, I have a similar gartley for EUR/AUD 1H. I prefer to use TMB method from wick to wick, which was not confusion. I cannot post it for some reason this morning. Below was my original post. Apparently the market responsed at the first D. I have pending orders at both potential D. The first D was missed at first, then back again to get triggered, but the momentum is too strong and I have lost 15 pips. The second pending order was also triggered.
Could anyone help me for how to draw correct trend line? I have two trendlines to choose. Drawintg from HH 4 Oct to 13 Jan (blue line) match with the 61.8 convergence, while trendline from HH of 23 Nov through 13 Jan (red line) likes the 50 convergence. Which trend line could be more reliable?
Hi Modo, I followed your NZD/JPY and entered a short order. As the entry bar in the 4H closed negatively, I closed the order with a +2.2 pips, thought it was a fake out. I took your butterfly as a daily one other than a 4H one. There is another one in the 4H chart. It would be good if TMB could define the patterns and TF as I posted the question before (#5275). Do you have good idea to define a pattern in the right time frame?
Again, I could say Fishing Raptor’s 30 min bearish bartley could be a 4H garley as illustrated. I just want to have some one clarify this as it is important to have the right pattern/TM combination so we can be better to define fakeout. Please TMB help us!
Hey all, this is my first post at baby pips. I have been studying/demo trading for the last 2 months and am getting my feet wet with live trading (I know I know probably too early). Ive been practicing identifying chart patterns and think I have found a gartley on the daily of the NZDUSD. The X point would start at .8241 on 28 oct. Could anyone take a look and see if Im on the right path?
Thanks in advance
Pipsus,
Looks good! There is a convergence w/XA @ 1.272 and CD @2.000!