I traded AUD CHF and won. I had a target set though and only got a small piece of that move.
I am wanting to learn pattern trading and this thread isn’t very active, is there any active threads that people can point me in the direction of?
sometimes when one persons starts posting it’ll come back to life for a little bit as others see it and join in. just try posting here and see what happens. this is the best thread on babypips for gartleys imo
Thank you, I will try and spot some gartleys and the animals then post them here.
My pattern worked and got 20 pips
I drew an almost identical pattern at the same time on eurgbp and won that too
Very interesting short trade coming up. Not only good convergence, but a high that hasnt been broken for many weeks
Got my pips for the day, but i was watching this trade too. Had i taken it, coulda been 20 pips + up
Hey, do you do harmonic trading also?
Here is an upcoming trade on CADJPN. Strong convergence, but not nessesarily on any other strong pattern forming zone. Some may argue that there is a small support level at this, so interested to see what happens. I am currently not putting an order in as it is almost midnight London time, and i don’t trade at night
(but i am working the night shift so can analyse the charts!)
Hey guys. Trying to learn harmonics and wondering if someone could comment on whether i am understanding this correctly.
This is from the EURCAD 1 HR. I have my AB Leg at just under 0.382 of XA and BC is a retracement of AB by 0.886. MY CD leg ends at 0.781 of XA. Does the retracement of under 0.382 on the AB leg being low or the retracement of 0.886 on the BC leg being to high invalidate the pattern? Do i have the general idea right in creating this or am i missing something?
I generally don’t trade a pattern if the AB leg is under the 38.2 retracement, they dont tend to work well.
You have recognised the pattern though, so find one with a higher than 38.2 retracement.
Also your X could be the higher high i think
Ive re drawn the pattern that i see, which is actually best shown on the 4H chart. Your X is not the most recent high, which i find makes the trade more risky. The trade ive shown looks more like a sure bet, especially since your shorter time frame there has warning signs such as long bars.
Thanks man, that does look more like the template. Am i interpreting how you create your CD Leg right? It looks like you have copied over a trend line from the AB Leg and then used that as the basis for your fib extension. And you are using the convergence from the XA Leg retrace at .886 and the fib extension of 1.272 of your copied trend line from the C To find your anchor point for your D. Is that correct?
Exactly right. I move the fib tool to create the CD leg. I am finding it is a good strategy ( Tmoneybags’s) The convergence, among other clues like support and resistance levels can all point to a likely trade. My GBPJPN trade yesterday was a great example. It went over 100 pips move in a few hours.
As an aside, i am genuinely interested as to why this isn’t move popular. It is well documented that the gartley patterns form on all markets, in all time frames, and are 70% likely to win if drawn and interpreted correctly. I am on 72% win ratio currently, and it all seems bang on the money.
Here is the same chart as i posted yesterday. It would have made me 20 pips no problem.
The market has now blown through and the trend continues. I wonder if it will reach the 100 XA, at 2 of CD? X is the lowest point in the market for a while, and the tail end of a recent candlestick did go through the other support area. If it goes through that point again, i will trade a buy at that lvl