Last pattern failed, the SL hit with 26 pip loss. This is a new butterfly. I “ignored” the long upper wick of a bar in B point, and used a mre “normal” one.
This is the chart with the trade placed, RR 5:9, that is almost 1:2, again, trading with my micro account, just for pennies and practice 
Hi Medisoft,
Thanks for the weekly AJ Gartley, I had not noticed that one. Keep in mind there is also a daily bearish crab with D around 90.00. Either way, I am not looking to short this pair yet as the trend is still up (although H1 has now broken the 84.80 higher low - but not closed below) so sales around preceeding high 85.50 could be a go.
If it’s long term patterns you are after, this nzdjpy daily bearish bat might be of interest. Again, this is just something i’m watching. I don’t see nearly enough yet to start shorting.
My best contender is this ucad h4 bearish bat - short 1.0035, as it is with the trend.
Great! I see that the NZDJPY could be also a Crab 
[
A](http://www.UploadScreenshot.com/image/769809/4802284)bout the USDCAD, I charted it on H1, and it seems to have two confluence points, one at the 78.6XAD and other at 88.6XAD. Both of them seem to be valid resistance levels, but I think it is stronger the 78.6XAD because it has been tested twice more recently than the 88.6XAD.
[QUOTE=medisoft;325002]Great! I see that the NZDJPY could be also a Crab 
QUOTE]
hmm, not so sure about that, B retracement looks more like 50% to me than 61.8%, but hey, i really don’t know.
Beauty of the nzdjpy to me is that it’s testing the high preceeding the trend-change (circled). I highly recommend learning this quasimodo pattern (also known as under and over / crown), it’s the most common sence price action pattern i know, and I truly belive you can make money with this pattern alone Quasimodo (Over and Under Pattern) | No Brainer Trades
Here is an example of the pattern in action on euraud h4, you will note the nzdjpy fits the same structure but inverted.
[QUOTE=medisoft;325002]bout the USDCAD, I charted it on H1, and it seems to have two confluence points, one at the 78.6XAD and other at 88.6XAD. Both of them seem to be valid resistance levels, but I think it is stronger the 78.6XAD because it has been tested twice more recently than the 88.6XAD.
QUOTE]
No. The B retracement is 38.2% = bat = price to reach 88.6 XA, not 78.6 XA
Will update later…
[B]Update:[/B] Stupip 5.0 made no trades.
You are right B point is at 38.2, so it is a BAT and the target should be 88.6XAD
[QUOTE=medisoft;325011]You are right B point is at 38.2, so it is a BAT and the target should be 88.6XAD
Good Medisoft,
If you want another example of an bat with quasimodo pattern, check out this eurgbp h4
OK, I have made my points now. I don’t want to force my stule down your throats, or divert the thread from TMB’s style, so I will be leaving the thread.
I would like to thank TMB for introducing me to harmonic trading, and wish you all the very best.
Modo.
as you said, 30 pips a day is not a big deal but one should not limit oneself on profits, but losses must be curtailed by putting right stop losses.
How can you say 30 pips isnt a big deal?
You might risk £30 and that 30 pip move could be 4:1 and net you £120
or
you might risk £2000 and that 30 pip move could be 4:1 and net you £8000
You dont measure profits in pips only in risk reward.
I agree with you. The trick in Forex is: CONSISTENCY.
If you can win 5 pips daily without exception, then you can assign a value to your pip that is good for you. 5 pips don’t seems like a big deal, but if every pip’s value is $100, that means $500 daily, only with 5 pips.
If you win 1000 pips daily but each pip value is 1 cent, that means only $10 daily…
[QUOTE=medisoft;325303]I agree with you. The trick in Forex is: CONSISTENCY
Agreed
I’m inside this trade on NZDUSD with a 15M pattern. It is a Bullish Bat. Right now it is in a “free trade”. The reversal happened exactly in the PRZ (marked with blue box). My target is the 38.2%, and right now is at 30 pip win.
I’m testing a strategy to simulate the indications of TMB about taking profits if price is trading near the TP without touching. This strategy moves the SL 1 pip each 20 seconds if the price is trading near (7 pip difference) the TP level, until the price touches the TP or retraces to SL.
Are you doing this manually or with the help from the expert in MT4 or sth else from you broker platform?
I just coded the correlation function, and now I’m checking for correlation before placing trades. If I have a pair that has 75% or more correlation (or inverse correlation) with an active trade, I don’t place the new trade to avoid double loss if the pairs move contrary to my trade, let’s wait to see if it helps
I’m doing both. In my real account I practicing with manual trade. On demo account I’m programming an EA for MT4 that I expect do the same as I do manually. I think if I become consistent with my profits, and I can resume the trading to a well defined set of rules, enough to build a computer program with them, then my system will be a mechanic one.
This is a current trade I just entered. It is a butterfly with 161.8XAD confluent with 261.8BCD and 161.8AB=CD on CHFJPY 30M
Risk is 21 pips, Reward 21 pips, so it is 1:1
This is a new bearish gartley pattern I found on AUDUSD 15M. I’m trading CD leg and hope to trade also the D point.
After a zoom out on the hart, I see that maybe it could be a Crab pattern instead of a Gartley, because there are more confluence on 161.8XAD than on 78.6XAD. The only confluence is AB=CD on the 78.6XAD. I think I’m going to place a limit sell at 78.6 with stop above the 127.2BCD and if the trade is stopped out, then I’m going to place another limit order on the 161.8XAD.
