Also nice butterfly completed on 30 min at 1.27 for USDCAD. Missed it this morning. CD a bit parabolic but multiple bars at the 1.27 before heading down. Don’t have chart access to post.
Hey guys, sorry I haven’t been around much this week. Works been manic. I’m gonna have a look at my charts tonight and get back to posting some stuff
Update on the butterfly in EURUSD:
The daily 618 retracement was at 1.3523. Going down to a 30 min chart a 1.27 butterfly formed at 1.3506, and butterflies typically identify a trend reversal. I typically look to enter a trade based on the smaller timeframe, and on this instance, the butterfly pattern completed Sunday just as the market opened, and I entered Monday at 1.3523 on a retracement after the initial move. My first target was near the 382 retracement of the CD swing. After that I typically try to be fairly aggressive on taking what the market gives me, and take into account the 618 retracements of CD and AD. I had 5 layers on, and now am left with 1, which I will do my best to let run, and move the stop up below recent lows.
lovely trade mate, i think I’m going to start demoing a few butterflies
bat forming on USDJPY H1, D at 103.08, lines up with previous SR from Daily and reasonable confluence of 1.618 of B-C and .886 of X-A
This is on my radar as well. I am looking to enter at the 786. The issue is that CD is so steep with wide bars. Ideally i would like to see CD be closer to AB in time (number of bars), which may put the ideal entry on Sunday night!
yeah i would like to see momentum slow down a little before it completes, can i ask why you’re looking to enter at the .786?
Based on my trading plan, I only take trades at the .618 and .786 for gartleys, and then 1.27 and 1.618 for butterflys.
Similar to the EURUSD setup I posted earlier today, 3 drives patterns can be great trend reversal patterns, but I would only use them in the same fashion as the EURUSD setup. i.e. a 3 drives on the smaller timeframe.
so can i ask for gertleys which levels do you use as B? i only use the .618 for them personally
B can be .382 or even .50. If AB=CD, then I am less concerned about where B is, assuming D is at the .618.
Hi Just found your thread. Have had an interest in harmonic patterns since it was intriduced to me by Trade empowered. I am signed up to their 19$ a month signal service. Didn’t take them up on their training, just tried to figure it out myself. Also recently a company was offering software to draw the 4 common patterns. They run the sw on your pc but you have to trawl around looking for a completed pattern. They also run the sw on their servers and have a signal service when any pattern has completed. The company is Elemental trader if you want to check them out. Also their is a thread on Forex Factory about Harmonic trading. Looking forward to keeping up with your thread
Yeh I have this on my radar to. Also there is a huge butterfly forming on gbpjpy with d around 164.6. I will post chart later work has been crazy last couple of weeks and havent really had any time
[QUOTE=“Wookie1985;594937”] Yeh I have this on my radar to. Also there is a huge butterfly forming on gbpjpy with d around 164.6. I will post chart later work has been crazy last couple of weeks and havent really had any time[/QUOTE]
I only trade the majors but have considered expanding. I suppose with the added vol of some of those pairs I would have to decrease my size to accommodate a bigger stop. Do u find this is the case when u trade the others? Also it is my goal to trade every pattern in majors that fit my plan, and not sure I could catch all if added too many. I suppose I could just add a few EUR and JPY crosses?
hi, this is very interesting. in the beginning i did not beleave in the animals. then i found a mail from elementaltrader. they gave me free trial for a indicator so i tested it on a demo. to my very surprice it was profitable. when the trial went out of time they wona charge 1997 bucks lol. that was a scram so. but still the animals worked.
ElementalTrader » Blog Archive � TradeFinder
a tradefinder seems still to work on there site.
well it wasnt nessesary so spend 1997 bucks. i found for free a indicator on FF. still it needs to check out if it have the correct harmonic ratios because many indicators does not show correctly patterns.
http://www.forex-indikatoren.com/download/gartley-pattern.zip
Then i scanned some pairs, klicking through the TF…
I think some pairs move more or less in patterns. so JPY-pairs seems me to have more patterns in it. Gold very few till no.
Check out the pattern have high quality. A gartley can change to a Bat pattern and ran over your SL. just dont jump in blindly if the move is strong.
(excuse my english, im german)
USDJPY 1h with trade
its not so easy. as you can see the pattern has changed
this is same pair and TF as above
UJ 1h
