CAD JPY this could be a invalid pattern but something is definitely getting ready to happen whether it’s up or down. I want to say it’s going to be the start of bullish 5th wave. If not then it’s a deep retrace of wave 4.
A possible butterfly is forming on the EUR/USD Daily chart. B is a near perfect convergence with the .786 of A, and C is a near perfect convergence with the .618 of AB.
Wookie are you still alive, haha? It would be a shame if this thread died.
Slim,
I see a little 1.27 butterfly potentially forming around the 1.38 level, along with a 786 gartley. That’s where my order is sitting. Looks like you are looking up near 1.39 at the 1.618?
Yes, that’s where I’m looking. The reason I choose that D point is that there is perfect convergence with the 1.618 of XA and the 1.618 of AB as transposed to CD in my butterfly. If you take the X point of the gartley you have drawn, there is also perfect convergence with the 1.000 of the XA, which in my opinion makes it very likely that the price will reach that point (multiple overlapping fibs.)
Of course, it is very possible that the price will drop at the D point you’ve located, giving nice profits, before shooting back up again to my D point. In that case both our patterns would be successful.
Or it could do something else entirely. No pattern is certain. We just have to wait and see!
hey slim, sorry i’m having massive issues with my ISP at the moment, am only able to get online via my mobile so haven’t been trading at all. hopefully my internet will be up and running tomorrow afternoon my time (GMT) and from the looks of it all you guys are doing a stellar job of keeping this thread up and running
Good to hear that you’ll be back! Good luck with getting your Internet sorted out.
Hello guys! First of all, Bertacci, thank you very much for the tips, they have helped me a lot. Also, the way I am doing my historical data is, I just move the chart candle by candle so I don`t know beforehand which patterns are successful and which not.
Now, I think I found a few interesting patterns, what do you think about them?
Right guys and girls I’ve finally managed to get my internet back up and running after 2 and a half bloody weeks!!! How is everybody? I haven’t traded for nearly all of feb which sucks. How has everybody else been getting on? Im going to go through the thread properly and answer and questions etc… this evening. Hopefully we can get this thing up and running again
hey pysren, all of the patterns look perfectly valid to me, i haven’t had a chance to do any analysis for a bit but when i do over the weekend i will post more about them, the GBPCHF and EURGBP look especially good to me, the D points you have marked line up beautifully with previous SR levels which is something i always look for, its a personal thing from a price action standpoint but it seems to work for me. they also look like they might be in line with the trend lines from those pairs and are both with strong established trends. Also the way you are doing your historical analysis sounds exactly right to me. please feel free to post the results you get I’m sure it would help everyone out
i know this trade has long since played out but it is a valid cypher, looking at my FXCM app it actually looks like its started to range at you D point. so you can see that cyphers are valid with there D point causing reaction in the market. i will post a bit more about cyphers during the weekend as i have always found them pretty reliable and would like to show this to the non believers
and please feel free to post as many charts as you like
hey slim i hope your still around, lets get this thread going again and spread the knowledge of this trading strategy
hey bertacci i really hope your still monitoring the thread, i really think your knowledge and experience of this method will be invaluable. Please feel free to post anything you like and correct me wherever i go wrong, your clear very experienced with harmonics and i personally would be very interested in learning more about your particular take on it
hey ace how are you? hope your still monitoring the thread, again it seems as if your very experienced with this method and the more experience we have on hand to offer newbies the better
hey mate, thanks for the props, hope your well. we should Skype soon mate would be good to catch up
Okay here’s a potential butterfly pattern on the daily USD/CHF that I’m keeping my eye on. The B point is 0.618 of XA and the C point is 0.618 of AB. The D I’m looking at is at the 1.618 of XA, which is ‘confirmed’ by more convergence lining up there. Any thoughts are appreciated.
Note that you could have traded it as a Gartley and probably made some pips on a retracement before it continued on its way.
hey mate i was just looking at the exact same pattern, for me i don’t really see any fib convergence at that level but it is bang on a weekly SR level, its from 2011 but there isn’t really anything else to turn it around until that level, i’m not sure that i will just set limit orders though, i might wait for some PA signals around there to go long but on the whole I’m with you on this one. still a fair few pips to get there though and i might try to get short on it if it retraces back to 0.8850
[QUOTE=“Slim Pickings;608950”]Okay here’s a potential butterfly pattern on the daily USD/CHF that I’m keeping my eye on. The B point is 0.618 of XA and the C point is 0.618 of AB. The D I’m looking at is at the 1.618 of XA, which is ‘confirmed’ by more convergence lining up there. Any thoughts are appreciated. <img src=“301 Moved Permanently”/> Note that you could have traded it as a Gartley and probably made some pips on a retracement before it continued on its way.[/QUOTE]
I traded the Gartley and had great results. It hit the 382 on the daily in convergence with a 1.27 butterfly on 30min last week but chopped too much for me to get in. Slim I know there is that big daily butterfly but I will be patient for sure since I like to trade with tight stops
