not so keen on the time symmetry on this one, but we’ll see.
i didn’t like the way this was acting and closed early for a 15 pip loss.
small losses can’t hurt me.
sorry lud, i could be wrong, but i don’t see any convergence on the kiwi. that’s not to say it won’t turn around hehe. i hope for your sake it does.
i have this bearish butterfly on the aud/jpy 15 min. sorry it’s small.
x= 82.642, d = 83.283.
all the best
sorry, i’m having trouble with attachments, but you have the levels.
me again,
also watching this bearish butterfly on the usd/jpy 15 min.
x= 90.692, d= 91.199
yen seems under pressure so you may want to pass on this and the previous aud/jpy.
lots of fake outs today, or it´s just not my day
down 30 pips myself, but the day is young, and there are lots of nice patterns out there.
hang in there lud, fortunes can change very quickly.
Eur/usd very likely for a short right now at 1.4850ish.
Let’s see what FOMC statement tells us. 
It’s a very interesting situation to watch.
Take a look at your 1 hr charts.
Double top at that point.
Convergence with CD 3.14 fib level.
i don´t know, all trades today went wrong, about 10, all with good patterns.
i simply don´t get it.
Yes, plenty of important news for the US today. Important news are a big no no for me since I don’t know how to handle that, but I’ll post a chart why I thought euro/usd pattern was a good one.
Still watching it. A great lesson to learn here.
Always check for news.
FOMC > ME – took a small loss. What a roller coaster ya? 
How many people shorted it after it looked like it topped out? I was sooo tempted, but now I see it heading up hard again :eek:
Yap, I was a big fight between bulls and bears but now we know the results. I was tempting indeed.
Thought it was expected for the dollar to gain some strenght, but looks like interest rate made it weak. At least currently no one wants the dollar.
My .002
i´m sure this is the same pattern I traded till it was stoped out after FED.
Hi all…
Was just wondering if anyone thought about what the difference is between a gartley and a butterfly structure-wise? It’s been characterized that a butterfly is a failed gartley, but is it? I have another outlook on it, but wondered if anyone else had one.
I have an answer for you
Larry P now is the “king” of harmonic patterns so to speak. The butterfly pattern was actually “discovered” by Bryce Gilmore in 1999. Bryce actually worked with Larry in the past, so they had shared a lot of information about harmonics. Gilmore defined the butterfly pattern as such:
B must be 78.6% of XA
An AB=CD must exist
the CD leg must be 127% or 161.8% of the AB leg
There was a little bit more to to his outline of a valid Butterfly Pattern, but Pesavato seemed to simplify how the Fib ratios interacted with the patterns assuming there was strong confluence of multiple fib points.
The Gartley was for a long time only though to exist if B was 61.8% of XA. Any thing less or more would invalidate it.
So according to the original validations… we aren’t trading the “exact” patterns so to speak, but we ARE trading areas of confluence that still show a good potential reversal zones.
I am still finding very mixed results using this method, but I am pretty sure that it is more me than the strategy. I will say though that trading Gartleys at 61.8 and Butterflys at 78 has proven profitable. Not sure that this answered your question exactly sweet, but at the least should shed some light on the subject.
Thanks nlrsniper Sorry, not sure if my question was worded right either…lol. I’ll try to expand on it. I’m trying to get at more about what the price structure is within each “wing” of both patterns, and what they represent in an uptrend or a downtrend.
I’m not sure either if I get your question properly, but I don’t think anymore of gartleys as countertrend trading, why not?
Because as you said, depending on the structure of the pattern we can apply a sense of “going with the trend” at the completion of D.
For instance, talking about elliot waves, a gartley can represent the end of the overall correction, thus the continuation of the trend.
On the other hand I’ve seen butterflies developing the proper EW, wich in this case I do feel trading countertrend, so psychologically is harder to me.
But I tend to look after this patterns in this structure, and not as an isolated pattern anymore.
Don’t know if I express my opinion following your idea. I’d like to hear what you think.