Bank, you should let your possible CD leg develop a bit more before concluding it to be a pattern. Also, your choice for ABC seems to actually be an XABCD forming for a Bearish move. I’ll look into that pattern and post it.
Yes wrtm, I am very iffy about it, so that is why I am trading the EUR/USD. But I like when the AB is 61.8%-78.6& of XA and when the BC is 61.8%-78.6& of AB to fell comfy with the patterns. So everyone, lets chat about the GBP and your take on it…
Heh, Thank you and don’t feel shy about asking questions. We’re all free to answer even if its been referred to earlier in the thread.
Great job on your trades btw, keep it up (what server… just curious… heh)
Ok Thanks TMoney, I sold the GBP, using another method, but anticipating a nice fall.
Looking forward to your post
Bank
Bellow you will see 2 possible patterns for the GBP/USD. First, we have a Rare Bearish Gartley where the 1.000 of XA converges with 127% of CD. Second, there is a Bearish Butterfly where 161% of CD perfectly converges with the 1.272 of XA. In addition, notice how the current price is “hovering” around the 100% and semi convergence with the .786. This is a good indication that price is respecting the fib levels and will most likely react to the predicted patterns. From experience, I believe that you should be able to make 30 pips from both zones. The Butterfly pattern though being your best choice of course. If anything goes wrong with the “rare” pattern, that area will be a great recovery bounce.
Think of convergence as a magnet that attracts price the closer it is to it and then repels it as soon as it touches (at least that’s how its starting to feel like for me lol)
I cant see any patterns forming, does anyone else see anything?
I guess that answers my question. So we can trade both patterns that I posted before?
Yup and we all know theirs major patterns that are still waiting to be triggered, that doesn’t mean we shouldn’t trade whats along the way. Just use caution the closer you get to the bigger pattern because it will for the most part give you the 30 pips, fake you out and make the true D higher (Bearish trade example).
-Big edit, changed should to shouldn’t lol typo-
So whats the result did it work ?
They haven’t finished developing yet. We’re talking about upcoming patterns and which ones to take.
When is it due to happen ?
The first D at 1.000 of XA seems like it can happen anytime between now and 8:30pm est. The Butterfly at 1.272 of XA will probably be our London trade. Usually price consolidates during this session, but it is pretty close to our first D.
Predicted here:
Is the 100% convergance a good sell point?
Its getting close! :eek::eek:
lol its possible and the convergence is good lol… a rare trade though. Just keep in mind that you have a back up trade at the 1.272 if it fails, so your good anyways. Both trades are nice. Demo the rare one if your scared 
I am only demo trading atm I want to get a micro account with FXCM soon though
Hey TMB,
When you mention the backup trade “if it fails” are you saying you would leave the first trade open if it doesn’t hit the target and wait for the retrace after it hits the 1.272? Do you think it would come back to give you profit on both trades? I don’t think I have the guts to do that myself yet, but I’m curious how you would handle it.
I got within a pip of getting into the GBP/USD trade, but since I wasn’t filled before the bounce I think I’ll cancel that order and wait for the 1.272 level.
Im thinking of staying in it… but then again I am demo trading LoL
Rivendare. Pally, Priest, DK, and Rogue, all 80, but with terrible gear, lol. I’ll send you armory links if you want, but not publicly.
Made another 30 pips on gbp/usd this afternoon. 
Again, you da man!
30 pips thats good !