30 Pips A day Keeps the your money at bay

TMB, how much of the economic news do you read daily? In that last major EU/JPY analysis you did, you included a BoJ economic report as confirmation of a trend. When I go look at the babypips economic calendar however, there are dozens of new reports out each weekday. Do you go through many or most of these, or are you still mostly a fundamentals-atheist like earlier in the thread when the seemed to have not the slightest effect on your performance?

Hi guys,
How this setup looks like? EUR/JPY 1 hr chart. There are 3 convergences and looks good to me. Please share your thoughts


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Looking at the Support and Resistance line it looks like this where the price at the moment.
Please share your views if I have drawn it correctly.


regards

Like I mentioned earlier in that post, I felt it was necessary to share that fundamental info because my mentor had e-mailed it to me. As for calendars, I use forexfactory.com on a daily basis simply to know when major news events will be coming and prepare my self for them by either not trading during that time or place my entries at the most extreme points of price. For major news events thatā€™s released on or above a quarterly period, I look at the numbers released previously and check how they affected price movement on the daily and 4 hour charts; this way I can have an idea in where speculators may move price and where the long term trend may flow.

Hi All, I am new to this thread, read most of it and the recommended books before I decided to start to post to this thread. First of all I thank TMoneyBags for his contributions to this thread and other dedicated traders that posted their comments along the way. I also read TMoneyBags post about his Harmonic Trading Signals website and his live trading room. Since I cannot e-mail due to not enough posts can someone please message me the details through babypips?

Sorry Sirpiper but this is currently PRIVATE until further notice ;).

Ok, that forexfactory site makes a lot more sense, with its color coding. I probably canā€™t trade the news for awhile but itā€™s easier to stay out. Thanks again!

Ah OK. Apologies for my unintended intrusion. Until then I will be nutruring discipline and patience as I have picked-up they are the other part of the equation after identifying patterns and market moves. Thank again for your contribution here.

No intrusion what so ever :slight_smile: when we are ready you will all know. In the mean time, I will continue to blog every week here and soon add a new account to myfxbook.com for public viewing which will coincide with what I post on this thread.

I was wondering if you could help me understand a bit about when and how you start seeing these patterns. It appears as though you can find them on any timeframe? I understand about looking for the Fib levels to identify the legs, just not so sure how to find and establish the XA. I drew this on the GU H1 and was just wondering how far off I may be, and what steps would be taken next (I think the pattern hasnā€™t respected the fibs so isnā€™t vaild?) Hope you donā€™t mind a newbie asking questions, I learn better this way looking at the market as it currently is, but if itā€™s annoying, Iā€™ll stop.


While your x point looks right depending on whether you are using the moving average or not, your c point goes beyond your a point which invalidates the pattern.

I actually havenā€™t made any other points. I am trying to understand how to place an x point to start looking for patterns. Because obviously itā€™s no good trading a pattern that you are seeing in hindsight, so I was wondering how to start placing the first 2 point and drawing levels. I think, from what I have gathered so far, that I just keep watching each swing low and swing high, and seeing if they bounce off key fibs in regards to the previous swing. Once a couple of good bounces are seen, then I can watch to see if the pattern completes and prep my entry orders. I really need to see a pattern forming in real-time so I hope someone will post one here soon :slight_smile:

Looks like youā€™ve found an X in an appropriate position, but youā€™d have to let this play out a bit to find out if a pattern is really forming.

Yes I can see that. How about this one on the GBP 15min, was this a successful pattern spotted? Only 10 pips because itā€™s a small one but it looks good to me nonetheless and thatā€™s what Iā€™m trying to do is just see a nice pattern for the first time :slight_smile:


Edit: My that is messy I apologise my chart displaying is about as good as my handwriting :S

[QUOTE=Empowers;448195]Yes I can see that. How about this one on the GBP 15min, was this a successful pattern spotted? Only 10 pips because itā€™s a small one but it looks good to me nonetheless and thatā€™s what Iā€™m trying to do is just see a nice pattern for the first time :slight_smile:


Iā€™m assuming that itā€™s a good X, because I canā€™t see what came before it.

Apologies about that. As far as I know it was a good X

I see your x, but your D may not look right. I dont see the CD% converge with XA.

To understand this , you need to read this thread from page one.

Here is the video you would see through out the thread that posted so many times

YouTube - Identify Gartley 222 and Butterfly Patterns using Fibonacci 1 of 2.
YouTube - Identify Gartley 222 and Butterfly Patterns using Fibonacci 2 of 2.

Hey guys! Hope you all had a wonderful weekend.

I did not have any time for forex until now. Have searched for patterns a few minutes and found 2 of interest.

First one is the EJ 30m with convergence on the 2.000 and 0.886 lvl:


The second one is on the USD/CHF H1 with convergence on the 2.000 and 0.500 lvl:


To bad i donā€™t have the time to do any deeper analysis. I gotta take some vacation so i can monitor the market properly. Right now iā€™m stuck with 30 minutes in the evening and placing limit orders to see if the patterns i find work out.

Happy trading and good luck to you all! :wink:

Iā€™m long on the CD leg for the same EU/JPY Gartley as you. I used a different BC, but I believe you used the more correct swing. I think the .786 of the XA is the more likely D though, as you can see lots of prior support at that level.

I used XA starting from 8 MVAs and my chart was drawn on H1 but oddly enough I have the same predicted D point on E/J. Letā€™s see whether it works out :slight_smile: