This thread is getting quite. Not a lot of symmetrical markets lately, Ive been finding 15 minute patterns to jump on the trend, its working pretty good. How is everyone’s pattern trading going?
The same, I’m only finding patterns on 15M, but the ones with good confluence finished invalidated 
I’ve barely seen any patterns and the ones that I see, it gets to risky to enter due to news events.
Wow! No new posts in a loooong while!
Anyone out there want to share how they have been been using Gartley and any other Harmonic Price Patterns to trade recently?
Shame, there was some really good posts and information being shared on this thread…
I am a part of those who are labelled as a ‘newbie’ but i will contribute daily to this thread!
Commence!..
EUR/USD butterfly developing on the 5min.
PINK: has already occurred for +30
-----GREEN----: About to occur?
This (JUN 12th on 5-min) 222 was not completed in a reasonable time period to take trade
Predictions!
EUR/USD 4-hour butterfly.
X, A, B = existing
C & D = hoping.
supportive indications:
- price action stalled, tested, and denied the 50% fib
- bullish engulfing candle supports the notion that it is the beginning of an AB=CD leg. (we can’t be too sure about this until it truly turns @ point C and price action moves aggressively toward D
Action plan: if price tests & denies 1.24249 (this is the most likely one due to both Fib lines meeting), 1.24016, or 1.23460, then i’ll be looking to go long with a profit target extreme of 1.25038
jong,
I tried to copy your pattern but I got a different D point.
My D is at 1.2332, where the XA-.886 meets with the CD-1.27
Let me know if I have the same A and B. It might be a different pattern.
Solid observation. I think it could be discrepancies between the brokers’ graphical representation. I moved down to the 30-min chart and moved my A to 1.26680. B still remains the same (1.24425), and C is simply my prediction where it will go (.236 of A-B aka 1.26145) <-- adding to this tangent, i see that you have marked a ‘C’ whereas i am predicting a C.
If price, as it currently stands, breaks the 1.25782-1.25817 to the downside, then that will be our ‘C’. This is where we are currently experiencing testing and rejecting candles; therefore, there is a good chance it will continue upward slightly.
all said and done, i think the difference between mine and yours is the placement of ‘C’.
Hope this Helps;
PJ.
Pps, i forgot to mention the little butterfly that’s ‘in’ our larger one.
n.b, i am posting these pictures in the 4-hour timeframe due to zooming and displaying purposes–i trade and place drawings on the 30
PJ.
Very Nice Looking Pattern!!
thank you! i’ll be posting daily, so stay tuned!
ps, I noticed that the majority of people who are following this thread use their fib tool & drag+drop it to draw the CD leg…
solution; inquire with your broker if there is a way to configure, or access rater, a fib expansion to save you some accuracy issues.
Hi there,
I use MT4 and there is a good Fibbo Extension Tool on it for your Extension Targets which is okay so long you have entered the relevant ratio in the properties to suite you. Apart from that, not sure what you mean. Keep up the good work and post some more patterns. Have your read the PDF book on Patterns yet? just woundered as you seem to know your pattern so far. What platform do you use then?
Firstly, I know it is hard to dissect this picture; therefore, i’ll list numbers, actions, SL/TP etc.
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The almost perfect (!) 222 that has formed (green) on the 15-min chart was NOT traded due to its small scale. It was simply used as a guide to judge retracement points for our larger grey or blue 222.
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The green 222 tells us that price will hit 100% or 161.8% retracement of XA. Price has currently stalled at the 100%, passed it, and stalled again at the 100% EXPANSION that belongs to the blue 222, thus validating it.
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I was looking for price action to move up until the blue’s 127.2% expansion for it is the 161.8 retracement of the green. Due to price action (pin-bar-or whatever you would like to call it) followed by a strong (and high volume) downward-thrusting bar, there seems to be a significant amount of evidence that this is the true ‘D’ of the blue 222 and price will start to move down.
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Action: Sell(limit) @ 1.26309 TP: 1.26107 SL: 1.26470 —> completed for +20 pips
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Reasoning: TP is only 20 pips because I wanted to TP ABOVE the greens’ 100%…due to obvious (resistance!) reasons. SL: monday’s resistance
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I have a Sell (limit) order place at 127.2 % expansion (of blue 222), 1.26622, due to the convergence which coincides with green’s 161.8% XA retracement.
TP: 1.26313 (conveniently located above blue’s 100% expansion)
SL: 1.26805 (above both fib expansion/retracement, and 1.26800 (minor psych level), and still keeps our risk:reward ratio nearing 1:2
Any questions, let me know!
n.b., i’ll have more coming soon from different pairs once this one starts heading south!
Why yet another 222 (RED) to confirm our BLUE 222 and to help confirm the ‘C’ of our larger-scale GREY 222 (described and pictured in previous posts)
This red 222 has the following characteristics:
- the BC leg (retracement of AB) perfectly tests, rejects and 3x pin-bars the 38.2% retracement
- the 61.8% expansion of the CD Leg is at the identical level as the XA 88.6 (very typical ‘D’)
- it is currently 6 GMT which means there is a low probability that this is a fake-out (low volatility, so it is shifting for a reason rather than due to sporadic events etc.
- It coincides and converges with the BC expansion of our GREY 222
Update (JUN 15): It moved + 54.8 Pips in our direction!.. only +30 was taken. Will be monitoring price action to short again at same spot; otherwise, it will most likely climb to 1.27089. (this will, unfortunately, invalidate BOTH our red and grey 222’s)
nonetheless;
The title basically describes this photo:
Please note the green circles… previously, price moved down, quad (4x) pin-bar’d, then shot up. Currently, price moved up into the green area, thought about moving around, but generally closes near its open (at the bottom of the wick) for the last 5 hours. This suggests that the Bulls simply cannot move it past the 78.6% AB retracement. This suggests that there is a ‘C’ forming, especially if it moves down to confirm, and is on its way to our ‘D’. I’ll be looking to BUY @ 1.55295-85 region depending on price action (look for indecision, rejection, resistance etc!)
Updates to follow.
Update: 30 pips have been hit on RED 222
USD/CAD 30 min.
positive notes:
- AB leg hit the XA 61.8% retrace perfectly
- CD 100% expansion converges strikingly close to 88.6% XA retrace
Entry: 1.02185
TP: 1.02489 (29.9 pips)
SL: 1.01990 (under the 1.02 psych level, under Mondays’ resistance, and still remaining sensible to Risk:Reward)
Update (JUN15):
Price only moved down to 1.02190 (!) then shot up 36 pips. I still have my buy order set for 1.02185 due to an incomplete retrace back to the 50% XA fib (which is what happens with 222’s). Conclusively, I will be looking for convincing price action around our original entry to go long.