I just looked at EUR/AUD, and found in my broker it has about 2-3 pips of spread, pretty good for small patterns 
I just finished a custom indicator that traces zigzag using the Talex Method (donāt ask me what is that, I just find the description on the Internet and build the code)
The things I added, based on the book āTrade what you seeā is the calculation of the āharmonic sizeā of each swing detected by the zigzag indicator.
So far, I did the tests on EUR/USD and EUR/AUD. The results are this:
On EUR/USD
for BULL moves, the corrective are between 12.16 to 31.40 pips, impulsive are 31.4 to 81.1 pips
for BEAR moves, the corrective are between 10.78 to 27.25 pips, impulsive are 27.25 to 68.9 pips
On EUR/AUD,
for BULL moves, the corrective are between 13.63 to 27.28 pips, impulsive are 27.28 to 54.6 pips
for BEAR moves, the corrective are between 11.28 to 24.24 pips, impulsive are 24.24 to 52.1 pips
All this on 5 minute chart. So, to do trades using āhard dataā without interpretation of nothing, if a pattern must have Impulsive move from X to A, that move should fall between the range of the impulsive moves, if it is smaller or bigger than that range, the move maybe is not a good X-A one. Then, AB leg must be a corrective move AND to fall inside a fibonacci range, that is an extra validation. BC should be a corrective one, but because it can be smaller than AB, it can fall below the minimum size of a corrective move, but with the fibonacci validation then itās ok. And finally, the CD move can be a corrective for patterns like Gartley or Bat, and a impulsive move for butterfly an crab, but because it also needs to fulfill the fibonacci size requirement, it is validated by the previous moves. Also, if CD is an extreme move, and itās size is larger than the normal impulsive moves or smaller than normal corrective moves, maybe the pattern is invalid.
Iām thinking on doing also this analysis on number of bars needed to do a correction or impulse. If a move is an impulse, but the number of bars are larger or lesser than the ānormalā impulses, then it should be traded with care.
Wow! I was scanning by hand the chart of EUR/AUD to check my calculations on the ZigZag and found something I didnāt know. The swing ABC can be formed by more than one zigzag, if it does not break the rule of XA->B level and AB->C level
Yes your correct, throughout the thread you should be able to see examples of us using multiple swings to find the correct convergence point.
Please contact me about Mondayās 7 am teaching!
Does your indicator works in different time frames? It is most likely that if you move to a higher time frame to have this pattern you will get a nice pattern at the first swing for the B (suppose the second swing in the lower tf is the one having highest convergence).
Hello All,
This forum is always a good read. I wanted to point out my trading journal on meetpips.com, Upcoming NZDUSD Daily Butterfly .82795, Superb Convergence Trade A2025 | MeetPips.com . I will be journaling my Butterfly/Gartley Trades. Hopefully will be posting a setup every morning so that you all can comment and trade it yourself.
Please add me and give me more infoā¦3rd-4th time askingā¦
30% AD TP is very good in my opinionā¦however, we have a different D entryā¦mine is at 8252, because of a gann point.
Many people seem to find that NU is setting up for a good short on the dailyā¦
BTW, I got triggered into a short of EU at 1.3222ā¦on one account, it goes well above 1.3222, but on my other account, it never got hitā¦
However, after checking multiple set upsā¦I donāt know why I would even short thereā¦all the experts are preparing for a long this weekā¦
Wowā¦somethings not rightā¦all my set ups seems wrongā¦cancelling all my setupsā¦
What is a gann point?
I have no idea what could be causing your entries not to get hit. Other than the bid/spread is different on different platforms. What broker are you using?
Gann was a market expert who used numerology, astrology, mathematics and cyclesā¦not many really understand or can duplicate his resultsā¦which were 88-92% accurateā¦I myself just found an indicatorā¦and just noticed convergence near one of those gann linesā¦HOWEVER, after rechecking my setupā¦I found NU daily gartley @ convergence at 8436ā¦so itās still far from where I would enterā¦
Anyhow, I use FXCM and Oandaā¦Oanda had a high of 1.3234 near the close on Friday:
Yes, it works on different time frames, but this pattern (the one in my chart) was not found in any other time frame, because the small swing that form the first ABC is not detected very well in bigger time frames, or with bigger parameters for the zigzag indicator. I tested various settings and none of them were able to detect this pattern with a simple zigzag. I think I need to improve the indicator a little to detect patterns formed by various zigzags swings.
I am longing for CD leg of a gartley EUR/USD 5m. Currently it is downside so if it breaks the trend line Iāll find chance to exit.
update: lost
Newbaby,
How do you know thatās a CD leg until B point has been broken?
I just analysize the trend and the fib level to decide the possible if it is a potential CD leg or not. Sometimes it works sometimes it doesnt. This time it didnt. :26:
Sometimes it looks a bit late to trade a CD leg after it breaks the B point. Maybe a slopping trend line could compromise this? Just my opinion.
EUR/USD 30 m potential bullish bartley. What do you think of it? It is the same idea that the main trend (1D) is up. Did I put too much weight of main trend in mind?
ā¦ and AUD/USD 1H gartley,
