Hi Modo! You’re right here. Actually one condition to call this pattern Butterfly is the fact that D is higher than X. So yes this is valid and it’s a good pattern. 
Thanks for the confirmation.
Any other patterns out there you like?
Yeah! I’m sorry for not posting the charts but it’s late and I’m going to bed.
But take a look at:
Eur/usd long at 1.4963
Aussie long at .9197
and loonie short at 1.0581.
I’ll keep an eye on them.
Thankyou and goodnight.
Wrtm, thank you very much for responding. Great help!
xeo
You’re most welcome
Thank You
i think i have been drawing 2nd fib from b down to X :o
i´m new to pattern trading and wondering if you guys use the zup indicator for metatrader which identifies gartley patterns?
greets
More examples pls!! we have to learn! I will be very nice if anyone can put an example, of searching, identifing, adding fibonnacci, searching entry point and exit point of a gartley pattern trade!
can anyone explain how to move the fib in metatrader?
from page 1:
The Black column illustrates the relationship between the AB and CD legs. I use fibonacci in this point for percentage purposes only. In other words, I draw my fibs from the tip of A to the tip of B and move the fib tool to the tip of C. This will then illustrate what is drawn in the image above and show a 0-2.618% relationship between the AB and CD legs.
To move the fib after you’ve drawn it, you double click anywhere on it’s swing line. Then 3 dots should appear…one at each end and one in the middle. Then click on the swing line and drag it to where you want to put it.
I hate when this thread is silent sweet pips and all the others the hard part in this thread seems to be to recognice point D and know where the best convergence is have you learn this yet ?
best regards
jgadefelth, Do you see any pattern today?
I have a little shortcut for those using MT4…if you don’t use MT4, then this won’t be of use to you.
If you use your Fib “Expansion” tool, it accomplishes the same thing as measuring from B to A and moving the whole thing over to C. Instead, measure from A to B (the opposite way), and then a 3rd line appears which you anchor to C.
Different platforms call it different things apparently. However, MT4 calls it Expansions. Here’s a video from babypips school demonstrating it. The only difference between the video and MT4 is that you don’t click 3 times, but instead have to click and physically drag the 3rd section to C.
Also it textizes in the video that the 100% level would be good place to take profit, but putting in context of a gartley or butterfly, that’s were we’d open a short trade…
Play with it, and hope it helps
thanks sweet pip, that´s great.
using the zup indicator eases the work too.
do you know of a measuring scale for mt4? to measure diatnces in time or pips?
Duchas i im just a beginner i have not started looking
Sweetpips Thanks so it will give me the last of the fibbonaci on the chart. But how do you deside where point D the last leg point shall be is it always where it is best confluence or how it is hard if we have 2 possible points and also the possibility that the gartley turns aout to be a butterfly ?
best regards
Hi Jgadefelth,
I’ll try to answer your question.
A very important clue for knowing wich one is your true D, is the AB retracement Fib. If this one is 38,2 or less, your D is more likely to be more than 100% XA. So if you a convergence at 100% XA I suggest you to ignore it and look for a further convergence.
Very very important to look for additional convergences at a D point, not just the ones from the pattern, but also some others for different X points. The more convergences a D point has, the more likely for it to be the true D.
I also use MACD to spot divergences in order to confirm a reversal, but that is just me. And also a very strong tool that I’ve been using lately is trend lines.
Most of my D’s form where a trendline passes. So there you have another way to spot your true D.
If you don’t feel safe about the D you just chose, don’t take the trade, many more obvious patterns will appear in the future.
There’s been cases where I’ve seen three D’s in the same pattern, and all of them have worked nicely for 20 or 30 pips. That’s the beauty of this convergences, that even when it’s not a true D, almost always you find a small retracement at this points, allowing you exit at Be if it wasn’t the true one and continue further up/down for the next D.
Practice practice practice. I’ll try to post more charts in order for you guys to see some trades, good ones and bad ones, so you can watch in your charts and have a better idea how to spot your trades.
Hope this helps.
Hi all this is a trade I’m currently in. It’s on the 4hr chart of swissy. Also a double top and a point with good convergences. Let’s see how it goes. 
If you’re reading by the time I post it you can watch it live.
Great reply wrtm…thanks!
The only thing I’d add is that these patterns can have a rather tight stop, so you shouldn’t lose much if a D point fails and then continues on to the next D where you would try again. Sometimes small losses are necessary to find that out.
I totally agree! Risk reward ratio of this strategy is great, wich at certain point allows you to cover your losses, and when you have it figured out, your losses are really small.
One very important aspect of this method, I think, is how to manage your trade. This can kill you, or save you. And that’s why it’s very important to follow the rules provided by TmoneyBags at the very beginning of your trading, at least until you know how this patterns work.
Not knowing how to manage my trades left me with loser trades even when a pattern worked out nicely, or in other cases I let my loses run, when it was obvious that the trade was failing.
This is a very important aspect, as important as spotting patterns, so give it time to master how to manage your trades and you’ll be even more profitable over time. 