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Cable Update (GBPUSD)

  • #509,941
  • Jan 28, 2020 3:30am Jan 28, 2020 3:30am
Quoting Guztro
{quote} I never trade against a Gartley, not when the levels stack up like this. It's your strategy, but this is how I intend trading the daily. Guz {image} {image}
spot on!!
  • #509,942
  • Jan 28, 2020 3:35am Jan 28, 2020 3:35am
Quoting thevisitor
{quote} spot on!!

I will save this post, to remember to remind you when your gartley fails
Follow The Markets Structure - Patience and Discipline
  • #509,943
  • Jan 28, 2020 3:48am Jan 28, 2020 3:48am
first hh at the 1m tf
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you can't fight gravity
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yes yes yes
  • #509,944
  • Edited 4:20am Jan 28, 2020 3:58am | Edited 4:20am
Open usdx chart to see tested 97.84 ok to have nice correction towards 95? , signal 97.770, confirmation 97.720 for tl test around 97.50. Real confirmation for bear or top failure goes to 97.12 for further tanking. Possible too as correction if there without crazy run up not or at tl then logically it should below 97.446 to up again, if so then a breakout may happen when it may further tank for next support near 97.10. Watching. So others should go buy mode for a timebeing, may or not be great!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #509,945
  • Edited 4:28am Jan 28, 2020 4:11am | Edited 4:28am
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yes yes yes
  • #509,946
  • Jan 28, 2020 4:50am Jan 28, 2020 4:50am
Quoting Guztro
{quote} I never trade against a Gartley, not when the levels stack up like this. It's your strategy, but this is how I intend trading the daily. Guz {image} {image}
Guz, I have deficiencies in Gartley patterns, before I research into it more, how accurate are the ratios when using this technical? What I mean is, do you use a specific ratio combination that confirms the validity of the gartley? Or is it more just the pattern itself?
  • #509,947
  • Jan 28, 2020 5:01am Jan 28, 2020 5:01am
Quoting Ra.
{quote} Guz, I have deficiencies in Gartley patterns, before I research into it more, how accurate are the ratios when using this technical? What I mean is, do you use a specific ratio combination that confirms the validity of the gartley? Or is it more just the pattern itself?
good article:
5 Problems With Harmonic Trading And How You Can Fix It
https://www.tradingwithrayner.com/5-...monic-trading/
in wondering about yourself, you forgot what you came here to be part of
  • #509,948
  • Jan 28, 2020 5:06am Jan 28, 2020 5:06am
one more down and then we finish the correction and start flying
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  • #509,949
  • Edited 5:22am Jan 28, 2020 5:09am | Edited 5:22am
Quoting Ra.
{quote} Guz, I have deficiencies in Gartley patterns, before I research into it more, how accurate are the ratios when using this technical? What I mean is, do you use a specific ratio combination that confirms the validity of the gartley? Or is it more just the pattern itself?
Ra, I do not trade Gartley on it's own, it is my secondary technical confirmation for structure. My primary trading strategy is 80% Elliott Wave, and over the years Harmonic Elliott Wave became my foundation for trading.

Sorry, needed to add, I found the ratio's fairly reliable when the key levels line up. In the bearish Gartley as in the GU daily, the 0.618 holds the key, I will then expect price to either bounce off 0.382 or 0.886, both those levels can be support depending on where in the cycle my structure is. I find it useful to overlay a Gartley pattern on top of an EW structure, it works most of the time.

Guz
Charts don't drive price, market conditions drive price...
  • #509,950
  • Jan 28, 2020 5:17am Jan 28, 2020 5:17am
Quoting Ra.
{quote} Guz, I have deficiencies in Gartley patterns, before I research into it more, how accurate are the ratios when using this technical? What I mean is, do you use a specific ratio combination that confirms the validity of the gartley? Or is it more just the pattern itself?
Hello dear friend!

All my trades are based in harmonic patterns. It's not so easy to draw it by yourself, just because you have to consider that points will be placed related to the Fibonacci retraction.

I can sugest you a Brazilian partner that offers all the tools so you can have a more reliable harmonic analisys. It's UniTrader.

The harmonic scanner toll will show you the most probably patterns to happen. The Index tool will show you in real time the capital flow. It's 80-90% accurate. It really works but you have to be patient as the harmonic patterns is not "all the time" a fast trading strategy. In my case I use them at H4 timeframe and deppendig of my disponible time I trade at the H1 and M15 timeframes.

I have an open position right now at GBPUSD based on a Butterfly found in H4 timeframe.

If you have any question please do not hesitate to ask. I love to help people as they helped me a lot!

Good trades for you all.
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  • #509,951
  • Jan 28, 2020 5:30am Jan 28, 2020 5:30am
Still one more 4hr candle,to make decision.
Its all about Timing!!!
  • #509,952
  • Jan 28, 2020 5:39am Jan 28, 2020 5:39am
Anyone going bullish? My TP is at 1.3025.

GBPUSD 27-31 January
Risk Management is of utmost importance!
  • #509,953
  • Jan 28, 2020 6:01am Jan 28, 2020 6:01am
Quoting knkie
{quote} good article: 5 Problems With Harmonic Trading And How You Can Fix It https://www.tradingwithrayner.com/5-...monic-trading/
Thanks for that, it answered my questions.
  • #509,954
  • Jan 28, 2020 6:16am Jan 28, 2020 6:16am
Quoting vilela00
{quote} Hello dear friend! All my trades are based in harmonic patterns. It's not so easy to draw it by yourself, just because you have to consider that points will be placed related to the Fibonacci retraction. I can sugest you a Brazilian partner that offers all the tools so you can have a more reliable harmonic analisys. It's UniTrader. The harmonic scanner toll will show you the most probably patterns to happen. The Index tool will show you in real time the capital flow. It's 80-90% accurate. It really works but you have to be patient as the...

80 to 90% accurate, get a life a man , instead of talking nonsense.

Anyways one says its bat one says its a butterfly one says there are 5 problems with gartleys, i think its one big bull
Follow The Markets Structure - Patience and Discipline
  • #509,955
  • Jan 28, 2020 6:16am Jan 28, 2020 6:16am
Quoting Guztro
{quote} Ra, I do not trade Gartley on it's own, it is my secondary technical confirmation for structure. My primary trading strategy is 80% Elliott Wave, and over the years Harmonic Elliott Wave became my foundation for trading. Sorry, needed to add, I found the ratio's fairly reliable when the key levels line up. In the bearish Gartley as in the GU daily, the 0.618 holds the key, I will then expect price to either bounce off 0.382 or 0.886, both those levels can be support depending on where in the cycle my structure is. I find it useful to overlay...
One big lesson I've learned since following this thread is everyone, through exposure and experience, figures out a system that they personally can 'intuitively' feel. Whether it's further founded with hard numbers or not I think is relative to the individual.

Thanks for the info, nice little nugget i'll look into over the weekend

Ra.
  • #509,956
  • Jan 28, 2020 6:17am Jan 28, 2020 6:17am
Quoting vilela00
{quote} Hello dear friend! All my trades are based in harmonic patterns. It's not so easy to draw it by yourself, just because you have to consider that points will be placed related to the Fibonacci retraction. I can sugest you a Brazilian partner that offers all the tools so you can have a more reliable harmonic analisys. It's UniTrader. The harmonic scanner toll will show you the most probably patterns to happen. The Index tool will show you in real time the capital flow. It's 80-90% accurate. It really works but you have to be patient as the...
scam, don't listen to this fool.
  • #509,957
  • Jan 28, 2020 6:20am Jan 28, 2020 6:20am
Quoting pipfarm
{quote} 80 to 90% accurate, get a life a man , instead of talking nonsense. Anyways one says its bat one says its a butterfly one says there are 5 problems with gartleys, i think its one big bull
I guess we shall see, shall we? I trade structure, his bat is what he sees, I see it differently.

Guz
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Charts don't drive price, market conditions drive price...
  • #509,958
  • Jan 28, 2020 6:21am Jan 28, 2020 6:21am
Quoting vilela00
{quote} Hello dear friend! All my trades are based in harmonic patterns. It's not so easy to draw it by yourself, just because you have to consider that points will be placed related to the Fibonacci retraction. I can sugest you a Brazilian partner that offers all the tools so you can have a more reliable harmonic analisys. It's UniTrader. The harmonic scanner toll will show you the most probably patterns to happen. The Index tool will show you in real time the capital flow. It's 80-90% accurate. It really works but you have to be patient as the...
no tool exceeds 80-90% accurate predictions. because technical analysis is only 40% accurate, 60% fundamental, follow the market maker wants.
  • #509,959
  • Jan 28, 2020 6:26am Jan 28, 2020 6:26am
Quoting corongumet
{quote} no tool exceeds 80-90% accurate predictions. because technical analysis is only 40% accurate, 60% fundamental, follow the market maker wants.
From where exactly are you pulling those numbers out?
  • #509,960
  • Jan 28, 2020 6:27am Jan 28, 2020 6:27am
Quoting Ra.
{quote} One big lesson I've learned since following this thread is everyone, through exposure and experience, figures out a system that they personally can 'intuitively' feel. Whether it's further founded with hard numbers or not I think is relative to the individual. Thanks for the info, nice little nugget i'll look into over the weekend Ra.
All good. No system is 100% reliable, we all know that. So to get the odds in your favor, you need confirmation, sometimes triple confirmation. So EW, Harmonics and Fibonacci is my trading combination.

Trade safe.

Guz
Charts don't drive price, market conditions drive price...
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