Pullice, are you timing your swings?
First of all sorry to deviate the main topic of the thread, but I don’t find any other place to comment this anymore.
Sweet Pip,
If you read this, I’d like know your opinion about yesterdays cable set ups.
Don’t know if we were thinking it too much, but it’s always easier to have that “ahaah” moment after the facts, lol.
What I see is that we were in the buy zone, and we had a bullish divergence with the oscillator. Price indeed hit the PDL and went lower for one pip, then travel up through four pivots until it retested the trendline and went down again, you know more or less what we were looking for, but without us on it, lol.
Oscillator bullish divergence and pivots.
Trendline re-test and price drop down.
Now, I think we had the conditions, and the key here maybe was the correlation divergence.
Here’s now what I want to comment with you. In previous examples with the correlation divergence (bullish), cable was the line making the lower low, so it was logical to think that the re-test would make a lower low, but in yesterday’s case, euro was the pair making the lower low, and cable the lower high, so I think that would be a hint to pull the trigger at the most, exactly at eh PDL.
Here’s the correlation chart.
Ok I want to discuss it with you, since I think we’re more or less in the same channel with this topic right now, and you know, the material is there, but now we’re on our own.
So what do you think about yesterday’s behavior? 
I think we missed a really good trade while talking about it…:rolleyes:
Believe it or not, I actually had a pending buy there at 1.4855 but as usual was struggling with which support line to use and there were a few to choose from… PDL (1.4853) , MS1 (1.4876), round number (1.4850), a key Support level (subjective 1.4864) just right above where the bullish butterfly D point had 2 fibs converge which was also the PDL, and also a fib level I had drawn on the weekly t/f. But I removed the pending order in doubt …doh!! Instead I had moved it down to where price is now, around the 1.4818 level, but then this morning after seeing that it had moved up those 150 pips, I removed it too.
(In my pic the pivot points are in the colored price tag boxes with the yellow one being the central pivot)
So we had a few confluences of events as you noted. When we started chatting I took that pic and price was in the midst of that bounce back to MS1 (which was just about the start of the 4th hour of the new day?), and we should have had our pending buy limit waiting there then.
Oh well, not to worry. We just need a little more time to pull all this together a little quicker…lol. Let’s see what the next setup brings
What do you mean by “timing your swings”
Sweetpip. Do you have an indicator that plots gartley patterns and how well does the indicator work?
I do. It works ok but it doesn’t show projections of possible upcoming patterns… they just appear when the minimum conditions exists according to the indicator.
Sometimes when they appear it’s too late to enter, or the D could still change and give you another chance. You’d still want to draw the fibs to confirm confluence of them.
It’s called the ZUP indicator. I found one on forex factory…there are a few versions. I think I uploaded one on the 30 pips a day thread. I’m testing it out now with the pivots.
Thanks sweetpip, I might as well just draw the fibs myself, in that case I can learn more as well
Hi Pullice,
By timing your swings, I mean that you should consider the time it takes for the whole pattern to develop.
Ideally there’s a minimum and a maximun time where your D should be completed, and all of this is based on the lenght of your XA leg.
With that in mind you’ll also be considering another dimmension in the pattern structure, and hence you’ll be avoiding some fake outs.
I quote myself with a post that I wrote about basic market timing, but if you’re interested I wrote like three or four posts regarding timing techniques and they’re in the first pages of the thread.
Hope that helps.
Hello Sweetpip.
Sorry for being such an ass, could you explain to me how you get your triangles coloured.
Sorry for being such a pest.
Does anybody know where if there is a fib time retracement tool in mt4?
Yes there is. Under Insert—>Fib–>time zone retracement (I think…going by memory…something like that 
)
Thanks Sweetpip, I also found out how to colour the triangles
Well this pattern has worked beautifully so far, but I didn’t trade it. Because it was completed late on friday and I have had the worst experiences with sunday gaps. So those were my reasons not to trade it even though I had all the requisites.
But I was able to trade the remaining part of the CD leg from 91.10 to 90.35.
This pattern was really good for the convergence of the fib levels, pivot point, and the upper trendline of a triangle. Let’s see what next week brings us.
Watch for key levels in this pair at 1.5089 and 1.5159.
Depending on market behavior and other aspects at the moment of completion. 1.5089 is at S2. Both levels are touching trendlines.
I probably won’t trade it since I’m having knees surgery tomorrow morning, but the pattern is on time, with the structure required, and it’s a matter of time for the pattern to be completed.
Be careful with the important news!
Thanks for sharing this wrtm, 1.5159 looks good to me.
Best of luck with the surgery.
Modo.
Thanks mate, everything went right and now I have to focus in the recovery process.
The pattern was completed on time and we had oscillator divergence, but not in synch with the upper trendline, which was broken and retested before price bounced back up. You can see it’s the same trendline I had already plotted in the previous chart.
Another sign of failure is the long bullish candle preceding the completion of the gartley.
As I said before, I wasn’t able to trade the pattern, but even though if I had ignored the warning signs and traded it, the opportunity to be out of the trade at break even was there. Let’s wait for the next set up.
