Awesome TMB! Tnx a lot for the files and quick reply!!
Hmmmā¦ looks like price respected the .786 fib level when drawn from wick to wick (XA).
The trade went as planned (+30 pips).
I discovered an interesting thing on MT4 (see screenshot below).
When i drew the fib wick to wick (XA) but used base of price Ā© when i moved the BA fib to C i got a perfect convergence between the 2.000 and 0.786 lvl, which in this case price respected pretty good and went up (+67 pips by now).
Maybe just a coincidence, but hey, i am still learning.
+210 pips for me today so iām really satisfied and now i gotta work for the rest of the day since i spent the whole morning with this.
Good luck for the rest of the day guys!
Congrats
tnx!
The extreme Gartley has been triggered and major Euro news has been released towards the bullish side of the pair. Expect both factors to work in conjunction and to push price towards the previous highest high where the monthly bearish pattern developed will await another test. Please note that 200% CD of the monthly has not been reached and it lies at 121.322. I price continues to move with this volatility, I expect it to break the convergence zone and reach 1.23. All in all, congratulations to all that followed yesterdays analysis you should be 200-300 pips up if followed with discipline.
Wowā¦ Iām up +25.86% this month while using good money managementā¦ how is this possible?!
TMB, you sir, are a legend. Two years of personal experience has all come together and clicked to match my trading style and knowledge and the results has been explosive.
Keep sharing, itās much appreciated.
Cheers!
I am still waiting for this trade on the EUR/USD 4H. Convergence on the 1.000 and 0.382 lvls.
Forexpastor, you still watching this trade? What do you other guys think about this pattern?
And what do you knowā¦ A trendline from connecting the 8 MVA on the Daily Chart is hitting the convergence spot onā¦
Looks good to me Diablo, just be careful. These long candles might suggest a strong trend I think I will trade it myself though
Do you have any long term performance figures for this strategy? Like a MyFXBook account. Ideally I would like to know how good it is when traded mechanically.
Study the system, learn it thoroughly and trade it using a demo account before going live. Then you will see for your self if the results are ideal for trading mechanically like many others here have done. You can also stick around the thread for I will be logging my progress here every step of the way this year.
I will, tnx!
The trade i posted earlier had really fast moving long candles but worked out great! But of course its a big warning sign that price just might shoot throug the resistance like a bullet.
Newb question: Is it possible to customize which Fibonacci levels you see in Oanda or MT4 and/or move objects? I have demos in eTrade and FXCM and they handle these features much more handily, but Iād prefer Oanda because the demo never ends.
Canāt say anything about Oanda but in MT4 you can do it easily. Just dubbleclick on the thing you want to edit and thereafter right click it again and choose ā¦-attribute and make the changes you want.
Another way is to rightclick in the diagram and choose āIndicator listā or āobject listā and from there you can make the same changes too.
Dumb me. Noticed this screen before too, just missed the add button. Thanks for that.
Price should reach the above conversion at about 11 am tomorrow. Not the best time. Letās see what happens.
Frankly I donāt know how to gauge when the price will reach a certain level but Iām shorting until 1.3257 and then going long. And yeah, weāll see how it turns out
Not seeing any patterns at the moment. Price movement looks messy and not symetrical on many pairs. Spotted a possible setup on the EUR/JPY 1H though, i think.
Spot on convergence at the 2.000 and 0.886 level.
Maybe iām just obsessed with finding patterns right now, haha!
Bedtime for me now. Good night everyone, whenever your night starts.
EJ 30 min. Bearish Gartley on the 61.8 retrace? The 50 has more convergence, but itās not quite above B yet.
Maybe last weeks and this weeks move just formed an Apex for a developing flag on the daily and price just may swing between the 200-300 pip range as it forms for the nest week and a half :54: