wrtm
perhaps this is an example where a number of D’s from different timeframes/patterns converge.
here we see a bearish butterfly on the swiss 15M, with D in a similar area to that of your 4HR, adding to the probability of resistance in that zone.
let me know if i’m wrong.
good luck with your trade.
By doreilly1 at 2009-10-27
Hi Modo,
Thanks for sharing!. Actually I didn’t see that and yes in fact that definitely adds more resistance to that zone.
I’m still holding that trade and let you know guys how it went when it closes.
Lol what a trade! Definitely not a textbook one! I’m talking about the usd/chf pattern I posted before.
After 20 hours I was stopped out at break even. Even though the pattern reached 40 pips, I was aiming for 50… I told you I wasn’t following the rules strictly! :rolleyes:
Here’s the outcome:
P.S. Take a look at Cad/yen 4 hr chart long at 84.43. I’ll try to post the chart later if D is reached.
Thanks All for your answears. You have some good explainations and some good help to determine the Dpoints. But when i read tmoneybags post earlie in the thread there si more to it. It seems like he always ok almost always get it right maybe this part is practice, i really hope so, so i also can be good at it in the end. His numbers are still impressing me the accuracy and what he have done in money and acording to him self could have done more yeasy
Best regards
Kinda new to the whole pattern thing after reading through tons of posts here. Just want to know if I am on the right track.
EDIT: wtf… the BBcode image resizing doesn’t seem to work… will post wit a resized image in a sec ==… wtb fix from webmaster ==. Click on pic for bigger image.
EDIT2: Doesn’t look like this D formed btw. ^^ Still would like to know if that would be valid for a butterfly type (more than .764[AB] retrace for C and D at convergence at AB<=CD)
That’s a shame, especially after a marathon hold, but nice discipline to scratch it.
Thanks for the real time post, and for the heads up on cad/yen.
Good luck out there today.
Modo.
traded for one week according to patterns and this seems very good. got the book" trader what you see" but haven´t read it through yet.
my question is, is this one of the best system out, it pretty much seems so and suits my trading style, combined with multipole time frame entries and good money management.
what do you think, did you switched over to pattern trading after reading through the thread?
This question is for the MarketScope 2.0 users or whoever can help me out.
What can I do to the settings of Market Scope 2.0 to have the extra space on the right of my chart so that I could kindda know where the potential D is heading?
Let’s say my D is not yet completed but it is at the end of my chart. I, therefore, can’t continue to draw my fibs anymore. I hope you understand what I mean.
Thanks,
xeo
I believe you can just pretty much click anywhere in the chart and drag it to the left.
hey guys, hope somebody can give an naswer to my question 2 posts above.
Hi Lud, nice to know you’re studying this method.
In fact you’ll find how convenient this method is for many reasons.
As my main trading style I got to tell you how much I like this method.
You don’t have to be in front of the monitor all the time, you make your analisys and wait for price to come to you, you don’t have to chase price.
Risk reward ratio is great, no less than 1:1, but almost always more than 1:1
You trade the very start of a correction/trend, which is great.
Of course it also has its faults, but mostly these faults are due to trader lack of experience. So I encourage you to practice practice and practice, and study a lot, there’s no other way to masterise this method and everything else in life.
So if you’re trying this method you’re already on the right path. Keep on practising and share your questions and examples. That way we all learn.
Hope that helps.
Hi everyone!
I just want to recommend all of you a very valuable source of information that totally complements with what we are studying.
One way to discern our entries and the quality of our trades relies on all additional information that we can have about that pattern, you know, the “take a look a the whole picture” thing. 
So even though I know TmoneyBags uses nothing but these patterns, we can complement that information with additional sources.
So, no more words, I recommend you to read 301 Moved Permanently, this awesome thread with awesome information provided by Sweet Pip.
Don’t let this piece of gold be out of your hands!
traded already some butterflypatterns, but didn´t always get the best entry, sometimes they rise further. i know everything beyond the 1.6 expansion isn´t supposed to be a good setup.
as soon as i have some patterns that are intersting i´ll post em here to keep thing going. thanks for the help so far, a great forum a great thread
how important is the AB=CD in the CD leg, i almost find no symmetrical cd legs?
hey guys, is this a valid pattern, I think there is no AB=CD in the CD leg, that means AB is shorter than CD. although it worked, I would like to know if this is really a valid pattern.
i know tmoney bags surely knows whats right, but this gartley looks somewhat sqeezed in form. not even the xabcd point are in line.
here is another probable gartley or butterfly pattern audusd, where should be the D, and is the B retracement of less than 23.6 sufficent?
Hi Lud, because of the size of your pics I can’t see them properly, but about this one I suggest you not to pic a B retracement less than 23.6, you better pick the second swing low in that image.
As per your first gartley, it looks good to me although I haven’t compared it wiht my charts but your XABCD points seem right.
Keep the good work
