30 Pips A day Keeps the your money at bay

[pdxkurt]

Well… EUR/USD just hit its first major D for continuation of up trend at 129.361 (our first long entry for the pair). We will be building a hydra towards 1.2907-1.28968. If price breaks bellow the 1.29 level, we expect it to push towards 1.28-1.27182 before finding major support.

Long Targets: target 1 as 1.30921 target 2 as 1.31944 target 3 as 1.33556

TMB- Thank you for this. 2 questions…

1. I can’t see any harmonic patters that give me the same D as you, would you mind clarifying?

2. What is your stop on this trade (visual stop even)? Obviously there are a lot of pips in your target, but I could see this going as low as 1.2038 if it continues its bearish decline.

[defiance888]

@Diablo1505

Of course defiance. Here you go.

THANKS

now,i can see why my cypher messed up and lost me money lol. let me get this right. point D on a Cypher is always the 78% of XC? NOT XA?

and also if i take my fibs from point B to C will the resulting fibs converge with the 78% of XC?

and also how did you work out that point C was 127% or 161% of point A. The only way I know to do is it to draw from A TO X with your fibs, Is this the right way or is there another?

sorry for all the questions lol,

[Diablo1505]

THANKS

now,i can see why my cypher messed up and lost me money lol. let me get this right. point D on a Cypher is always the 78% of XC? NOT XA?

and also if i take my fibs from point B to C will the resulting fibs converge with the 78% of XC?

and also how did you work out that point C was 127% or 161% of point A. The only way I know to do is it to draw from A TO X with your fibs, Is this the right way or is there another?

sorry for all the questions lol,

Good questions. When i am looking for possible cypher patterns i look for structure where the X A B C points allready are present. I draw fib from A to X and if price has hit the 127% level but not closed pass the 141% level it is a valid pattern until it reaches the D point or closes above previous C point. The D point is always at the 78,6% of A to C and you do not need any convergences for that. If there is a convergence of course its a good confirmation of the pattern.

[Diablo1505]

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

[pdxkurt]

@Diablo1505

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

Yep, I’m in this trade, looking forward to it.

[pdxkurt]

There is a bearish cypher on the NZD/USD 15 minute that is approaching D.

[Eggo]

@Diablo1505

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

Nice
What is the role of moving averages in your harmonic trading? Does they give you any confirmation?

[el_chichoman]

I’m in the AUDCHF trade also. Nice clean swing points and fib convergence. I’m totally new to harmonics but this setup caught my eye. I’m starting to enjoy the art of harmonics…literally, my charts never looked so colourful.

[system]

Thanks Diablo, I’m watching it drop now. I’m learning Gartley and am curious about your cypher pattern. How much movement % do you expect to see?

Mike

[TMoneyBags]

@Diablo1505

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

Please post additional support/resistance near convergence levels when referencing Daily/Weekly/Monthly Patterns. BTW Their is major Kiwi and Ausi news being released the entire evening… I’d wait and see the aftermath of this news before attempting such trades.

BTW, booked 30 pips on the EU trade I mentioned earlier; I will give a full analysis on the EURO pairs I’m trading during London session.

[Diablo1505]

Nice
What is the role of moving averages in your harmonic trading? Does they give you any confirmation?

I do not use them at all in my trading right now. The reason why i have them on my charts is because i’m playing around with MSRT lines TMB teaches. But they do not affect my trades at all.

What i can use for confirmation of a trade is RSI overbought/oversold, RSI divergence and previous structure (support/resistance).

[Diablo1505]

Please post additional support/resistance near convergence levels when referencing Daily/Weekly/Monthly Patterns. BTW Their is major Kiwi and Ausi news being released the entire evening… I’d wait and see the aftermath of this news before attempting such trades.

BTW, booked 30 pips on the EU trade I mentioned earlier; I will give a full analysis on the EURO pairs I’m trading during London session.

Sure will do that next time. Not using any converging fib levels for my trades at the moment tough. Just simple pattern rules.

I will also include warnings for any upcoming news in future posts.

[shonick]

@Diablo1505

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

I don’t trade this one since it hit my entry outside my trading time.

[Diablo1505]

I don’t trade this one since it hit my entry outside my trading time.

Good descission shonick, stick to your plan!

[shonick]

Good descission shonick, stick to your plan!

Yeah. Hope I can make it all the time :). I learn it the hard way though, you never know what will happen in the next second in the market.

[paw3000]

@Diablo1505

For your info:

Bearish Bat pattern on the AUDCHF, daily has just triggered.

Mine has triggered too.
guys, I’m going to feel bad if this setup ends in a loss for all of us

By the way, the table with my patterns is getting old, maybe i should print a new one including the Cypher… but 1st i want to backtest it and hear your opinions and experiences in this relative short period of time.
How is the addition of the cypher pattern affecting your trading? There is something i should specially look at while trading/backtesting?
Have you thought in adding any convergence lvl from BC? Is there any strict rules/ fibo lvls for a “perfect” Cypher?
Ouch, sry, I’m throwing too many questions to you

@TMoneyBags

Please post additional support/resistance near convergence levels when referencing Daily/Weekly/Monthly Patterns. BTW Their is major Kiwi and Ausi news being released the entire evening… I’d wait and see the aftermath of this news before attempting such trades.

BTW, booked 30 pips on the EU trade I mentioned earlier; I will give a full analysis on the EURO pairs I’m trading during London session.

Glad to see you back!
Looking forward to your euro pairs analysis.

[modo]

There was an au m15 bat 1.0286-90 at the 0.382 retracement, and now an m15 TL break and test.

Thinking 0.382 (1.0285) will be key. Break could lead to 1.0220, while rally could mean 1.0420.

Strategy would be to buy here at 1.0302, stop 1.0292, limit 1.0415.

Employment news due in 10 mins, so it’s a bit of a punt. Probably best to pay extra for a guarateed stop. Good chance it will fail horribly, but a decent risk/reward.

[modo]

@modo

There was an au m15 bat 1.0286-90 at the 0.382 retracement, and now an m15 TL break and test.

Thinking 0.382 (1.0285) will be key. Break could lead to 1.0220, while rally could mean 1.0420.

Strategy would be to buy here at 1.0302, stop 1.0292, limit 1.0415.

Employment news due in 10 mins, so it’s a bit of a punt. Probably best to pay extra for a guarateed stop. Good chance it will fail horribly, but a decent risk/reward.

Worked out well, and not too late to buy this pair IMHO.

[shonick]

@modo

There was an au m15 bat 1.0286-90 at the 0.382 retracement, and now an m15 TL break and test.

Thinking 0.382 (1.0285) will be key. Break could lead to 1.0220, while rally could mean 1.0420.

Strategy would be to buy here at 1.0302, stop 1.0292, limit 1.0415.

Employment news due in 10 mins, so it’s a bit of a punt. Probably best to pay extra for a guarateed stop. Good chance it will fail horribly, but a decent risk/reward.

what adjustment did you make to predict it go up to 1.0420?

[modo]

@shonick

what adjustment did you make to predict it go up to 1.0420?

1.0417-21 is the measured move (ABCD) target