People view the patterns differently, so there is room to disagree. I use B hitting at least 61.8 of XA but not 78.6, as that becomes a possible butterfly which is an extension pattern. I expect BC to be at least 61.8 of AB, but it cannot go beyond A (some let it go beyond but not close.) Typically (and traders again do vary) the D leg should 1) be an extension of 127 AB (for entry) and 78.6 confluence of XA is preferred. I remember seeing this yesterday and its not the best example result wise… Akil Stokes has a lot of free videos (I am not endorsing any product or service, just saying he has free videos, and he is a good rule based trader) if you are interested.
[QUOTE=“Hogarste;706980”]People view the patterns differently, so there is room to disagree. I use B hitting at least 61.8 of XA but not 78.6, as that becomes a possible butterfly which is an extension pattern. I expect BC to be at least 61.8 of AB, but it cannot go beyond A (some let it go beyond but not close.) Typically (and traders again do vary) the D leg should 1) be an extension of 127 AB (for entry) and 78.6 confluence of XA is preferred. I remember seeing this yesterday and its not the best example result wise… Akil Stokes has a lot of free videos (I am not endorsing any product or service, just saying he has free videos, and he is a good rule based trader) if you are interested. 2015-06-19_1314 - Hogarste’s library Please remember that this is just an example for the sake of dimension. it was not an ideal trade. [/QUOTE]
I was just watching his videos right now then I see you mentioned him lol
what you are looking at on the babypips school are textbook gartleys [structure wise]
TmoneyBags trades ab = cd swings on an axis [the x],
he refers to them as gartleys, but technically “most” of them do not meet the definition of a gartley because B does not retrace to 61.8% XA and D is not on the 78.6% XA
most of the patterns you see in this thread are ab=cd swings [with varying lenghts of cd eg: cd= 1.000, 1.272 , 1.618, 2.000, 2.618, under Tmoneybags the D’s can land on the 23.6% xa [rare] 38.2% xa, 50% xa, 61.8% xa, 78.6% xa, 88.6% xa, 100% xa, 1.272% xa, 1.618% xa 2.000% xa, 2.618% xa …and there is also now alot of new fibs i have not mentioned where D’s can fall on [if you are using those fibs]
with traditional patterns, [B]D’s[/B] can not fall on the 23.6% xa, the 38.2% xa, the 50%xa, and the 61.8% xa
if you want to participate in this thread, be aware that alot of the patterns you are trading will not be “standard” patterns like the type you read about in the babypips school and other places…
[QUOTE=“defiance888;707018”] what you are looking at on the babypips school are textbook gartleys [structure wise] TmoneyBags trades ab = cd swings on an axis [the x], he refers to them as gartleys, but technically “most” of them do not meet the definition of a gartley because B does not retrace to 61.8% XA and D is not on the 78.6% XA most of the patterns you see in this thread are ab=cd swings [with varying lenghts of cd eg: cd= 1.000, 1.272 , 1.618, 2.000, 2.618, under Tmoneybags the D’s can land on the 23.6% xa [rare] 38.2% xa, 50% xa, 61.8% xa, 78.6% xa, 88.6% xa, 100% xa, 1.272% xa, 1.618% xa 2.000% xa, 2.618% xa …and there is also now alot of new fibs i have not mentioned where D’s can fall on [if you are using those fibs] with traditional patterns, D’s can not fall on the 23.6% xa, the 38.2% xa, the 50%xa, and the 61.8% xa if you want to participate in this thread, be aware that alot of the patterns you are trading will not be “standard” patterns like the type you read about in the babypips school and other places…[/QUOTE]
Oh ok I understand it better now. I’ve gone through some of the beginning pages on the thread but I find it a bit confusing to understand through written explanations (especially since I’m not very experienced yet). Is there a place with videos to understand it better? Thanks
TmoneyBags, is something wrong with the system …or i am doing something wrong??
i notice lately most of my gartleys are working, as in achieving the 30 pips target guideline. HOWEVER, alot of the time price will close over the fib level first … and then do down to achieve the 30 pips, and under your guidelines we must close out a trade if that happens [for a loss] in order to protect capitial as it is assumed that if price is closing over the fib line the trade will go onto fail.
but situations like this are happening alot lately… [ignore blue fibs in backround]
here you can see, both on the hourly and half hour … price closes above the 78.6 fib line, then later goes back down…
the pair is usd/jpy. it has not been flowing all that symmetrically lately tbh, but eur/jpy and eur/usd have been and i’ve been noticing it happening on those pairs too, and twice now i’ve got stung because of it.
what is the reason for this, and why isn’t the protective close strategy working??
i am getting frustrated as trades that should be winners are becoming loosers by closing them out ,
the only thing i have notice is that it tends to happen when the strenght of the currecny is not in your favour. eg: trading eur/usd bearish gartley [looking to sell] and usd being 1 strengh, and euro being 4 strengh [strengh differance is more than 2]
but then again, you are not using sweetpips strenght table much …and certainly wasn’t at the start of the thread when you were making profits …so what adjustments do you suggest i make??
please reply. i beleive i am close to finding consistancy with your system, it is just this issue
i have read some about these patterns and i dont understand some stuffs you do.
for example.
when you draw X --> A you draw fibonacci from X to A, then you have Another fibonacci (i Think from C --> a random spot).
the first fibonacci i understand but the second fibonacci that you draw i dont get the starting Point and the end Point of it.
With some great traders, they usually start with short term trades , but with a long term vision. In other words being flexible is the key to have more than one out look on the position you take.
I will be posting my progress on a new account starting this week as I did within the beginning of the thread. Through my future postings I shall clarify the system for you :). as for the strength chart… I’m sure with an advance search of “sweetpip” and all her threads you’ll find it.
I can’t remember the exact page number it’s on right now but i’m pretty sure i mentioned it here recently [probably in the last 20 pages of this thread], so you should go through the recent pages of this thread and look at my posts till you find the one where I mention it.
note though that the strength table indicator is only for mt4.
if you are using marketscope to trade you will either have to run mt4 too, or you will have to not use the indicator and do it manually. tbh it is not all that hard to do it manually, it’s just that the indicator is quicker and more convenient. the indicator only updates the table once every 4 hours though …which is not ideal, but still it is handy imo
