Could you please clarify “building hydras” for me please? Not so familiar with that expression or kind of trading to be honest. 
Nothing i have come across in my studies.
EDIT: Is it called “building hydras” when you buy additional lots when the market moves against you and then sell off them one after the other when it starts moving to your favour?
Divergene between the RSI/Price on the daily chart on the GBP/USD. Is there some kind of pattern aswell?
This is a hydra:
Its position building within a convergence, where you pull your net long towards your exit sl.
Here is another example:
MSRT Zone has been triggered and yes there is a pattern developing there aswell, along with S/R from previous price history on the daily, which all coincides with our EUR/GBP analysis.
Ok, thank you very much TMB. I will study the posts in the evening since i do not have the time atm. Strange that i missed those posts when going through the thread. Well it is a BIG thread thats the only excuse i can come up with. 
I waited a bit longer and entered at 1.55038. +20 pips atm and SL at break even. If nothing else, a good trade opportunity for free.
Good luck with your trades to you and everyone today! I’ll be back in the evening.
Don’t like current price movement on the Yen pairs booked profit on the EG which was enough to outway my 15 pip loss on the GBP/JPY, closed GBP/USD as well and will wait for price to confirm movement for tomorrow. I’m done for the week. Take care! I will post this weeks results shortly.
Yeah, the GBP/USD seems to be stuck between a resistance and a support level. I got stopped out, reentered at the retest of the support and once again moved SL to break even. At the moment price is up +20 pips again but it struggles to get any further. Well well, another chance on a free trade.
Guess your weekly result will blow our socks off as usual. 
Thanks for this week TMB and have a nice weekend!
Getting close to the D point (1.272/0.382 fib levels) on the bullish gartley (EUR/AUD Daily) i’ve posted earlier. The convergence lands on a pretty nice support/resistance level aswell.
Could allready hit the target tomorrow but more plausible in the beginning of the next week.
What do you guys think of this trade?
Since it is on a longer time frame we could get at least a 150-200 pip upward movement. Overall trend is bullish as well so let’s hope for price to get down to that level.
Bellow are this weeks results:
Looks like next week we may be ranging, but lets see what the weeks close has to say tomorrow and I’ll give us a thorough analysis for week 3. Happy Valentines 
Hi TMB. Have things turned a bit hairy on GBP/JPY short? Any trade management suggestions? Also did you ride the EUR/AUD short you mentioned earlier this week?
GBP/JPY closed near break even but the total loss came out to an avg of -15 pips. The Euro/GBP Hydra made up for this though because it was basically hedging it in favor with GBP strength.
The highest position of the hydra closed for 77 pips and the fact that the pair has a higher pip value then the gbp/jpy was able to push me towards a good amount of profit. The green line you see on the GBP/JPY chart at 144.441 is the maximum level that I would let price run (Bottom of the bullish convergence). This in effect makes it an excellent area to place the final buy order if your building the hydra. Unfortunately though the USD/JPY seems to be pushing towards yen strength and a break of that zone can constitute a substantial drop. Thats why I closed everything out… because right now everything is around “Sink” or “Swim” levels. If your in that trade still and didnt close when I did or take advantage of the EG drop. Let me know your exact entries, lot size and current balance and I’ll help you through it.
BTW The Euro/Gbp still has 60-70 pips before reaching the MSRT zone, expect price to break the current level or pull back a bit towards .86296 before continuing.
Well… seems like an opportunity has been triggered and I’m going to have to disregard that last statement 
A Bullish Gartley on the GBP/JPY 8 hour chart has been triggered where the .500 of XA when using the MVA curv at 140.834 converges with 127% CD. The green horizontal is an MSRT from the daily which previously held price from 1/10/2013 17:00 est - 1/31/2013 1:00 est. This hit along with all previous GBP analysis should push price towards 146-147 range and should give me an easy 30-70 pips at minimum risk.
Targets and percentages go as follow: 90% Target 1 145.250 80% Target 2 145.775 70% Target 3 146.624
Scalped a few more pips from the market… even though I see these reaching the targets I need to control my emotions and close for the week 
don’t want to over work my self:
PEACE!! Leaving to starbucks or something!
Thanks for your reply TMB. Unfortunately I exited GBP/JPY with a bruise but as you mentioned the other pair made up for it. My result was BE! Am holding to the GBP/USD but but have been dancing around this morning entry, seems like it knows that I bought the pair 
you recommend I switch to GBP/JPY buy?
The GBP/JPY long is looking great, just be mindful that your currently inside a 50 pip convergence zone and untill the previous highs are broken you can always fall down to retest; That and the 8 hour is closing in 1 hour. On the other hand the GBP/USD and EUR/GBP look like the best pairs for GBP strength at positions at the moment since the Yen is prty over extended and those swings to the bottom of the convergence you missed are very possible. In other words, trade at your own risk im done for the day and take a good look at the charts I’ve posted… and the MSRT zones for the EUR/GBP we all analyzed, it should definitely help.
Thanks!
That’s pretty much what I figured as well. Have spent the morning drawing trend lines in the mt4 platform and as far as I can tell they provide decent enough information to be used, even though they don’t match up with Marketscope’s. Offcourse I still have a loooong way to go to fully understand them and where exactly to draw them from.
So for now I used TMB’s directions (once again thanks) and try to find similar points in my platform to draw from.
Picked my 30 pips for the day on the EURGBP short so the rest of the day will go to scouting patterns!
Looking forward to the 4h EURAUD bullish pattern that seems to be developing nicely…
Hope you all are having a good day!
Found a bullish gartley on the EURJPY and jumped in when i saw how price reacted at the convergence. Got my 30 pips for the day within 10 minutes.
Forgot that i had a pending order on the GBPUSD. Placed the entry avove the resistance which price had been working on all day. Of course price went up to exactly trigger my trade and then went straight back south. Atm i am -30 pips on that trade but my winning trade had a 3 times bigger lot size so i should be fine anyway.
I’m really impressed how often these patterns work and generate profit!
Hope you all had a great trading day and thanks TMB for the tons of information.
Tracking a Bullish Butterfly on the 1H GBP/JPY. Convergence with the 1.618 at 143.26, where my entry lies waiting. It’s been very respectful of earlier fibs and you could have easily nabbed 30 off each retracement, since the ADR is almost 200 pips.
