Yeah, I was expecting this to happen to my UJ over the weekend. My order wasn’t even open at that point, and for some reason it got executed today at a much higher price three minutes into trading. I feel lucky that I was just taken out for my stop order.
hi guys, as i am pretty new to trading patterns, i would like to post what i think is an upcoming possible trade on eurusd 1hr chart. its a butterfly and your views are highly appreciated.
ps. i have been going through the thread and really surprised how quiet it becomes in here when tmb is not around.
the eurusd triggered and is now active will update the results
Yeah, the cypher pattern has a high success rate like the gartley pattern. I haven’t traded it that much but i’ve searched the charts for it and these patterns are represented frequently.
If more find it inspiring i’ll gladly continue to share information like this. But i guess thats the meaning with these forums… 
Good work! Stick to your plan and your placard. Thats one of the biggest challenges in this business i’ve realised! 
Ouch! Same here, no limit trades over the weekend anymore.
Had both a trade on the EJ and the UJ which triggered and stopped me out. 
Regarding the EURUSD trade i posted on saturday.
I decided to go long since price showed signs of respecting the convergence mentioned.
But i will close a trade each time we get to a resistance zone.
Right now price is at one of those zones and i closed my long position with a profit of +70 pips. If price punshes through it i will enter long again.
Can’t provide you with any numbers though because i am on my phone on my way home from work to attend the pro trader course i mentioned earlier. It is covering ratio and pattern trading and trading psycology.
I’ll get back to you with a review of the one week course and provide you with information about upcoming events if you are interested.
Possible au m15 cd leg. Thinking short 1.0316 stop 1.0321, limit 1.0245. Small stop requirement for a look at the short.
Working out ok. Take some I guess at 2.5R, then b/e on the balance and hold for 1.0245 (longshot)
Nice! Would love to hear more about the course and I really liked your analysis earlier.
Are there any pre req’s for the course?
TMB and others who trade like this.
how do you enter and manage trades i have an example here on USD/CHF
the fibs a drawn from the bottom MVA to the top of the MVA, because that is where the fibs got a reaction, but drawing from mva curve to the wick gives almost the same result. On the chart the grey line are normal trendlines and the orange ones are mva-crosses from the 8 hourchart.
here you can see the trendlines. and the extreme where it’s 23% retracement converges with the minor pattern shown above.
in a situation like that. firstly is that a proper drawing of a pattern? secondly when do you enter and exit. I myself saw it at the h1 time-frame and i closed below does that mean it’s invalidated or should be a 4 close below or something else.
I followed price like i posted earlier up to the first resistance where i discovered a bearish gartley with a convergence right at the resistance. Went short and got stopped out. Had to reenter the trade a bit late because of that which cost me 40 pips. But i still made +30 pips of that trade too.
So the summary of my trading day:
EURUSD, long: +70 pips (bullish gartley on the 4 hour chart as posted earlier)
EURUSD, short: -15 pips (to tight stop loss on the bearish gartley)
EURUSD, short: +30 pips (bearish gartley on the 30/60 min converging with a resistance level and the 200 MVA [4 hour])
Total: +85 pips
About the course i attended as mentioned, the first day was great. Over 1000 people showed up and it was about trading psychology and some basic introduction with the background story of one of the guys who teach and is a professional trader now.
I really want to share this with you even though i think it’s not good to just jump in without the first introduction. If you have some spare time on your hands you really can’t miss this.
The 3 hours course held today is recorded and you can find it through this link: http://tradeempowered.com/workshop-replay/
You do not have do download anything like it says on the site, it’s just for the students who want to use the same program as the teachers during the course.
At the bottom you’ll find the recorded videos once they are uploaded.
The link to the course for the next days is: Revolutionary Trading Education Conference Portal - powered by omNovia
The course starts at 7 am CST and last for ca 3 hours.
This course is identical to the pro trader course which is held live at their office in march and they charge 1500$ for it so do not miss this chance to get a piece of that for free.
It’s completely free and these guys do it to help people because they love doing so and love teaching also.
I can understand if you are skeptical about this but it’s really for free, no strings attached whatsoever and it’s not a lame course. It’s great stuff taught for 16 hours this week so do not miss it. I want to share what i found since we all share the same dream about being successful with our trading. This course will save you tons of time searching the internet for videos, books and other stuff, trust me. If you have seen some movies with Jason Stapleton you will understand what i mean.
This stuff will help you to understand the teachings of TMB much better and much faster.
If you are not interested just ignore this post. And if you do attend the seminar i hope we can use it to contribute more to TMB’s awesome thread.
Anybody trade this? I don’t like to trade after ~12-1pm EST but I couldn’t help myself. Price was headed VERY quickly for the convergence so I cancelled my entry order. It blew 100 pips past down to the 2.618 retracement of CD and I scalped just over 20 pips as it shot back up. Entered and exited a few times though (thus the “10.0” and “.7”). Price has been acting weird and I’m a bit unsure of myself.
GBP/JPY 30min
I drew the pattern for the screenshot after I traded it, which is why my D is 100 pips below the convergence.
Well, regarding the EURUSD it looks like my alternative prediction came true which invalidated my previous pattern even though we got a nice bounce for about 100 pips at the convergence.
Price did not make it through the resistance and continued down. Let’s see what price does at the next support level which is around 1.30000. As it is now i cannot find any pattern that’s converging with the support.
Diablo, Thanks a lot for posting that info! Will try to watch today’s lesson tonight.
So its completely free? Sounds too good to be true!
Do you know if they will post all lessons on that page so you can view them even if you miss the live session? I’m going away for a week from wednesday and it would suck to miss out on the rest…
You’re welcome!
Yes it’s totally free. No catch. No advertising for products whatsoever. When you’ve seen the recording from todays lesson you will see that it’s true. I’ve been following these guys for some time now and they are the real deal.
Yeah, i think all will be recorded and put up on the same page.
Good thing to be in the live room though is that you get to ask questions if needed. Hope to see you there tomorrow.
So it wicked up before it shot down? How did you decide to enter the .7 pip trade? I think you also mentioned entering the trade if you see it retracing just a few pips before reaching your entry point. Do you look for certain price action on certain charts to determine whether it has hit its point or not??
I just got lucky that’s all. After I set my entry order, I happened to be in front of the screen and saw price was moving SUPER fast so i canceled my entry order to wait and see what happened. After it hit the 2.618 I jumped in, rode it up a bit, then jumped out then jumped in (emotions and lack of experience).
Usually i set my entry a few pips before my D so I don’t miss out, but no matter what I would’ve been stopped out here if I had gotten in at D. I think it was in the trade what you see book that If price is moving strong and fast towards your entry to reconsider the trade.
Also, I see you are a redditor.
Ah, so tis you on reddit. /r/Forex is quite a ghost town though so I don’t go there much.
I’m still not clear on how to use price action to gauge the viability of my convergence being good. Sometimes price shoots down and bounces off a support and sometimes it continues down down down. I guess it will have to come with experience. My favorite patterns are the instances where the price seems to retrace 20 pips from every fib level it encounters, but I don’t see that more than a few times a month.
I have a couple questions about this one…
I don’t understand how you chose your B leg on this one. I though the B would be the next move up away from the A which would be about 1.3480 @ 21:00. In which case the retracement would not have reached the .382 so disqualifying it for a Gartley… am I correct?
If not, educate me as to why not.
Thanks.