audusd short already stopped out with -15 pips. I thought the large bullish bar through the confluence line was an exhaustion bar comparing with the previous bullish bars.
audusd short stopped out, because my stoploss was 2 pips too tight. Iâm learning.
your first pattern was invalid. The second pattern look valid, in which the gartley and the butterfly is the same pattern, with X from different site (so should be taken as one pattern).
Please read the thread through for the pattern validation rules. If you really interested in the pattern recognization, itâs better stand away from âpattern indicatorsâ.
About my possible trade on RHT stock, I think it is starting the CD leg. A lot of doji candlesticks are signaling that the C point is formed. Iâm going to wait and see if the price goes to the target level.
I did this small trade on 5M of a bearish gartley. The characteristics: it was pretty symmetric and has AB=xCD inside. Take profit was on 38.2%. Iâm testing symmetry this way:
Measure the angle of AB as MAIN and reference angle, then test the angle of CD. It must be the same angle as AB +/-10%. That gives to me a symmetry of level 1. Then repeat that step and measure the angle of XA. The magnitude of XA angle must be the same magnitude of AB angle +/-10%, that gives to me symmetry of level 2 (in conjunction of the past symmetry) and I get symmetry of level 3 or âfull symmetryâ if the same rule of XA are on BC. In this case the pattern had full symmetry and if you see it worked pretty good. I entered the trade almost on the top and exit pretty well at 38.2%CD
long eurusd 4h at 1.3070, confluence of XA 88.6 and CD 141.4 (ellipse), sort of 3 drive down before (arrows). TP 1.3115 (=23.6 Fib of AD), S/L 1.3050 (20 pips).
I was observing something interesting about point X, please confirm if you see the same behavior repeat in your patterns.
If the pattern is the same direction of the trend, the previous high (previous for X, let name it W) is between 38.2 and 88.6 of XA using X as the zero, and then it retraces to previous point (let name it V) that is a lower low (for an uptrend) compared with X.
Well, I think an image says more than 1000 words, so Iâm posting this two images.
This image shows a generic pattern, maybe a bullish Gartley, but shows the points V and W and T1 and T2. The issue is to discover valid X (anchor) points and to know the probable T1 and T2. In my observations when the pattern has V and W in this way, then the pattern is in trendâs direction, and the T1 at 38.2 is very good, but the T2 is better, because it is in the trend direction, and could be used 78.6 or more.
In this drawing, you can see that there is a similar pattern, maybe a Bullish Gartley, but only with T1 and W, because in my observations I see that when the previous (from X) move (W) exceeds A, then the pattern is counter trend, so a safe 38.2 % profit is best, because the probability to touch 38.2 is greater than 61.8, for about 10-15 % (it is about 85-90 % compared to 70-80 % of touching 61.8 in a Gartley)
Can you please confirm this?
Hi Stupip,
It is possible to code a strategy for Trading Station using LUA. FXCodeBase has some coding documentation here if you want to try coding something on your own.
Jason
Iâm looking for this pattern also, but is shows signs to be invalid because XAD is exceeding the 88.6⌠isnât it?
I found this Gartley on 1H. It is drawn on M15 because that is my trading timeframe.
Note that it is asymmetric so Iâm not trading it, but it can convert in something useful. I post the image with long previous history to see what I just wrote about history previous to the patterns.
If you see in the chart, the pattern fulfills the observation about being in the same direction of the trend, if you scroll âback to the pastâ you will see that the pattern is in a downtrend, and also the D point is forming near to a 4h trend line, as shown in this other picture.
Also, Iâm seeing some candle patterns of reversal there, so maybe this is a pattern to watch.
Right now the pattern seems to be responding, it is near 23.6
Thank you newbabyfxx again, but I think u misunderstood my pictures. :5: My first chart wasnât a pattern recognition, its just a supplydemand indicator which I think works good for confirming PRZ. The two patterns I was talking about were both shown on the second chart, which should be considered as one. I do not solely rely on indicators to take trades, but I am still at the learning stage. In other words I do not have the âeagle eyesâ to spot patterns quick enough. Thats why I use the harmonic analyzer to help me out a little. I am verifying every pattern that was caught by the indicator myself, but still thank you for your advise. I will always keep that in my mind :5:
So back to the trading time question, do you take trades whenever the pattern forms or just during the session of the pair?
Thank you so much and good luck with your trading!
Here is another asymmetric Gartley but for 15M. It was pretty ugly, but it could have been winner, with 18 pip win in only 15 minutes.
Iâm evaluating the success of trading asymmetric patterns, because some of them being winners donât tell the full story.
The dark blue area is the âpossible PRZâ, the light blue area is the detected confluence area, where the entry order would be placed if this pattern were symmetric. The highest red bar would be the stop loss level for this pattern.
Iâm in the same question as you, do the experts here take trades only during the session of the pair or whenever they happens?
Itâs better following TMB guide about the good trading times and fakeout times, especially when you do not have much experience. His conclusion was based on his trading experience. It does not mean you cannot trade the fakeout times, but it has more chance the pattern may fail. As TMB suggested: why taking extra risk when there are other good opportunities? 
Another small pattern, an asymmetric AB=CD butterfly on EURGBP. It is forming a candlestick signaling possible good trade.
Currently trading this gartley, that is symetric and with AB=CD. It is holding in the confluence on PRZ.
The trade finished winning after 15 minutes. The traded pattern is the green one. I need to do something to take screenshots automatically after a trade is finished to avoid doing this manually, but meanwhile this is the chart.
After some time looking, the pattern was very successful. It continued to 61.8 and started showing weakening signals in candlesticks, then touched the 78.6. I stopped following the results here.
That said, I think a good indicator that a pattern will be a winner at 38.2 is that AB and CD are symmetrical, and that xAB=CD. That, of course, is part of the definition of Gartley, Butterfly and Bat, at least.
