30 Pips A day Keeps the your money at bay

[cyanidez]

A H1 gartley is forming on the eur/chf. D point around 23463.

EURCHF?! Hahaha I closed that chart almost 10 months ago, seems like it might be time to get the little bugger off the shelves again

[TMoneyBags]

EURCHF?! Hahaha I closed that chart almost 10 months ago, seems like it might be time to get the little bugger off the shelves again

It’s the end of the month and it looks like I have some homework to do this weekend, [B]pick 2+ pairs that are not the EJ or EU (can be a cross pair)[/B] and I will put it under consideration; I will submit a full scale analysis of 3 pairs by Monday London session.

Edit.: Please leave feed back on why I should choose the pair you have selected.

[Diablo1505]

@cyanidez

Today on Twitter I saw a very famous and successful trader guy who completely lost it because of the AUDUSD and he just shut it all down to refocus and come back tomorrow. Even perhaps next week?

Right now you remember what your balance used to be and that urge to make it back is incredibly strong. I know because I think we all still get moments like these. My friend, the markets are going to be here tomorrow, next week, next month. My recommendation would be to take a day or so. I personally have NEVER traded well after a day like you had just now, I just made it worse.

It’s not defeat, it’s coming back stronger!

Good luck.

Thanks guys! All you’re feedback encourages me and makes we want to come back the next day again. Your support is highly appreciatet!

[Diablo1505]

Hey man,

My first position got stopped at BE, then I re-shorted, to only close it for +5 pips after shooting higher AGAIN and now I’m short again but this price action is not looking good and I’m down about 40 pips at this moment. A move above today’s high will stop me out… and I have a bad feeling that this might happen. As TMB said, price is in no man’s land at this point in time, floating around somewhere between the 127% and 161% extension.

I have, however, prepared for if this high holds and have some 30 pip profit buy setups lower down

Keep your chin up man, like my mentor always tells me, stick to your rules and plan. If you didn’t plan the trade, don’t trade it! I realize it’s probably not a problem you’re having because you use limit orders which is great, but sometimes I just need to remind myself of this again. Forexpastor also summed it up very nicely.

Take care guys,
Cheers

Yeah, it’s exactly those trades that result in losses. When i try to go short/long in anticipation of price hitting a “D”.

Think i’ll stick with only limit orders for a while so i can’t affect the trade myself. No emotions at all…

[TMoneyBags]

Yeah, it’s exactly those trades that result in losses. When i try to go short/long in anticipation of price hitting a “D”.

Think i’ll stick with only limit orders for a while so i can’t affect the trade myself. No emotions at all…

Best way to trade towards an anticipated D point (trading C to D) is using a pattern developed on the lower time frame towards that destination. For example if we see a bullish pattern developing on the 30 min, most of the time we will find bearish pattern developing on the 5 min (I would stick towards the extremes of the 5 min D point or the .382, using a 5 min break of the convergence point as our exit or a stop above the highest high/lowest low). Practice doing this on a demo account or with an insignificant amount of lots on your main account. I will begin posting these scenarios next month to help you all with the practice :).

[merper]

There’s a lot of 30 pip harmonic retracals in the Gartley that’s completing on GBP/JPY. I keep missing my entry order by 2-4 pips but perhaps you guys can do better.

[djhenry1981]

It’s the end of the month and it looks like I have some homework to do this weekend, [B]pick 2+ pairs that are not the EJ or EU (can be a cross pair)[/B] and I will put it under consideration; I will submit a full scale analysis of 3 pairs by Monday London session.

Edit.: Please leave feed back on why I should choose the pair you have selected.

AUD/USD - Reason it’s overvalued IMHO but it has been zig zagging for some time, could be worthy of your analysis.

[Diablo1505]

Best way to trade towards an anticipated D point (trading C to D) is using a pattern developed on the lower time frame towards that destination. For example if we see a bullish pattern developing on the 30 min, most of the time we will find bearish pattern developing on the 5 min (I would stick towards the extremes of the 5 min D point or the .382, using a 5 min break of the convergence point as our exit or a stop above the highest high/lowest low). Practice doing this on a demo account or with an insignificant amount of lots on your main account. I will begin posting these scenarios next month to help you all with the practice :).

Thanks a lot TMB! Will definitaly give it a try and report the results!

[shonick]

Look like this GBP/JPY is pushing the price up to the pink eclipse and we can take a long now, then at the pink eclipse we can short it to 142.8. Can anyone confirm this base on your analysis.

Wow, I set sell at 144.118 and stop lost at 144.238. While marketscope showed me that that wick 0.5 pip away from my stop lost. But on Oanda it already process my stop lost

I guess I was unlucky to grab that 30 pips right at 8:30 this AM.

There is something wrong at that moment 8:15-8:30 AM today. The bid on Oanda is less than FXCM 2 bid. Since my trade stop at my stop lost, I assume the ask is higher than FXCM. So the spread was at least 7 pips.

[shonick]

It’s the end of the month and it looks like I have some homework to do this weekend, [B]pick 2+ pairs that are not the EJ or EU (can be a cross pair)[/B] and I will put it under consideration; I will submit a full scale analysis of 3 pairs by Monday London session.

Edit.: Please leave feed back on why I should choose the pair you have selected.

GBP/AUD, AUD/USD, GBP/USD, NZDJPY, those could be easy pair for us to grab some pips. Maybe worth your analysis.

[jack816]

Just watched AUD/USD hourly drop out of play. Then I realized how good it felt to know that I knew exactly what I was looking for. Thank TMB!!!

[Diablo1505]

Hello everyone!

Have looked at some pairs this morning but i’m once again back on the EJ seeing a lot of patterns going into each other. This pair really is symmetrical.

Found a bullish gartley forming on the 30/60 min. Question is if price will reach down so far since we have a nice bullish flag forming once again.

Have a limit order waiting at the entry point. And if price doesn’t retrace that far it’s no loss anyway.

TMB: How about the AUDUSD? It’s moving symmetrical and is respecting the fib levels well. Especially the 0.500, 0.707 and 0.886.

EDIT:

Just for practicing i switched down to a 5 minute chart to look for patterns and now i’ve successfully traded my first 5 minute bullish gartley on the AUDUSD. Of course only a TP of +10 pips since it’s on such a low timeframe.

[aelgen]

Unable to post pictures now, but real interesting bearish Gartley forming on the NZDUSD hourly with perfect convergence at 1.00 and .786 of XA. It just hit a great convergence with 0.786 CD and 0.618 XA where price shot down. Still expecting it to continue up within the next few hours and hit the entry at 1.00 convergence. Unable to post picture right now.

[Diablo1505]

@aelgen

Unable to post pictures now, but real interesting bearish Gartley forming on the NZDUSD hourly with perfect convergence at 1.00 and .786 of XA. It just hit a great convergence with 0.786 CD and 0.618 XA where price shot down. Still expecting it to continue up within the next few hours and hit the entry at 1.00 convergence. Unable to post picture right now.

I guess you mean this one. I’m posting a pic for you. I too get a perfect convergence at those fib levels.

[paw3000]

@Diablo1505

I guess you mean this one. I’m posting a pic for you. I too get a perfect convergence at those fib levels.

i was uploading this chart too when i saw your post :). Great opportunity to profit, lets see if it completes.

@paw3000

This is the only gartley i could find on Gbpaud, still 190 pips away from D

4h tf.
B from XA: 61.8
D from BC: 127.2–>perfect convergence with the AB=CD formation and the 38.2 from a previous swing high.
D from XA: 78.6

it moved the 190 pips in 1 day and reversed 1 pip after touching the limit order. 1st tp hit and moved to BE. Hope any of you catched this one too!

[Diablo1505]

it moved the 190 pips in 1 day and reversed 1 pip after touching the limit order. 1st tp hit and moved to BE. Hope any of you catched this one too!

WOW, nice one. Hit spot on and went down 85! Good job!

To bad i missed it.

[DrPepperJunkie]

Hey all,

GBPJPY is looking pretty prime for a short, I spy a 4 hr/ Day Pattern and a 1 Hr pattern converging in same location at possible tripple top. 144.1, (use Wick as X). Also AUDUSD formed a nice buy 4 hr pattern that has tested rising trendline twice.

[Diablo1505]

@DrPepperJunkie

Hey all,

GBPJPY is looking pretty prime for a short, I spy a 4 hr/ Day Pattern and a 1 Hr pattern converging in same location at possible tripple top. 144.1, (use Wick as X). Also AUDUSD formed a nice buy 4 hr pattern that has tested rising trendline twice.

If price starts moving down from the triple top we could have a bullish gartley waiting. Looks like there is a good convergence of the 1.272 and 0.236 lvl on the daily. Still 400+ pips away though.

[Diablo1505]

Since i’m sick and at home i have nothing better to do than spamming this thread with possible setups…

GBPAUD 1H, Bullish gartley:

[DrPepperJunkie]

I am actually planning on shorting this pair, it broke the triple top around 141.10, but on assumption that it will only be stop loss run, I am going to scale in. 1st part of position at 144.45 around rising daily trendline (support turned resistance), and Resistance 1. The second short will be 144.87, the 127.2 of 1 hr last swing high, just a few pips above the recent high. My exit will be a 4 hr close above the high at 144.79. I expect the USDJPY to close the week below weekly convergence around 91.1, and am bearish on gbpusd.