trading forex using Gartley Patterns | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Question on butterfly and gartley patterns 0 replies

Someone pls comment on my gartley patterns 0 replies

Gartley Trading 1 reply

Find the Gartley 47 replies

Gartley on the brain 1 reply

Attachments: trading forex using Gartley Patterns
Exit Attachments

trading forex using Gartley Patterns

  • #301
  • Aug 11, 2010 4:30am Aug 11, 2010 4:30am
hey guys its been a while since my last post.
"Some" of my winning trades now are ABCD patterns. but i having hard time on how can i confirm those patterns like my trade on GBPjpy

this my D1 trade yesterday. will this continue until 0.9034? let see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdd1.gif Size: 21 KB
Click to Enlarge Name: gbpjpyabcd-b.gif Size: 21 KB
  • #302
  • Aug 11, 2010 4:53am Aug 11, 2010 4:53am
with due respect, this act of posting trades when they are working on our ways is not professional. post before it happens and ur thots.

thanks
  • #303
  • Aug 11, 2010 4:58am Aug 11, 2010 4:58am
thanks for the calls. will run analysis on them.

my advice for anybody trading pattern is to first ascertain the trend of that pair on larger TF and the time frame of analysis. this will help to filter bad patterns.

trading patterns with confluences is the best way to go. just two patterns so far this week and all winners.

i posted UJ bearish gartley with nice confluence and still working till now

lets work
  • #304
  • Aug 11, 2010 6:06am Aug 11, 2010 6:06am
@chinawombat
do you know a sourcecode or in an mq4 format of korharmonics?
  • #305
  • Aug 11, 2010 5:09pm Aug 11, 2010 5:09pm
DAILY:
price has been trading inside triangle and now approaching the base with good daily support at 60.35

4hr/1h

there are two pattern giving entries at almost same level

BAT
88.6 XA confluencing with 1.618 of AB
Butterfly
1.27 XA confluencing with 1.618 of AB

this is high probability setup

best of luck
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ndjpy-entry.gif Size: 19 KB
Click to Enlarge Name: nzdjpy-daily.gif Size: 20 KB
  • #306
  • Aug 11, 2010 8:10pm Aug 11, 2010 8:10pm
we have a BAT structure in process...initial target levels for D are 1.2800 for .886XA, BC comes in a little higher at 1.2827, and the .382 retrace from the whole rally from June at 1.2770
Attached Image (click to enlarge)
Click to Enlarge Name: eu bat asis.gif Size: 24 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #307
  • Aug 11, 2010 9:01pm Aug 11, 2010 9:01pm
not surprisingly GU is forming a BAT along similar lines to EU. .886XA comes in at 1.5602 and BC 1.618 at 1.5593.

We do have .23 fibo from the whole rally from April at 1.5580 but I think this is a far weaker and inconsistent compared to .382. Let's see what the price action will tell us into London.
Attached Image (click to enlarge)
Click to Enlarge Name: gu bat.gif Size: 33 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #308
  • Edited 2:22am Aug 12, 2010 2:04am | Edited 2:22am
continuing with the trend lower...potential BAT in process but XA.886 @ 86.06 comes in just above resistance line ...no secondary BC number are close except for 2.24 @ D 86.10
Attached Image (click to enlarge)
Click to Enlarge Name: uj bat.gif Size: 28 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #309
  • Aug 12, 2010 7:03am Aug 12, 2010 7:03am
Quoting tankbeta
@chinawombat
do you know a sourcecode or in an mq4 format of korharmonics?

check his website or contact directly http://tradingarsenal.com/....
Catching a falling knife, no, I'm just trading the Gartley!
  • #310
  • Aug 12, 2010 12:01pm Aug 12, 2010 12:01pm
Quoting Naijafx
GBPCAD DAILY: possible bearish BAT at 1.7050 with
from daily, its obviously seen that price is making higher high and higher low and could be nice to find a bullish entry on 1hr TF

will be nice to look for bullish pattern withtin the XA
maybe 1.6100 handle will give an opportunity... there is more clarity on 4H & 1H but I couldn't fit the trendlines in and give the clear levels for the fib's
Attached Image (click to enlarge)
Click to Enlarge Name: gcad bat daily.gif Size: 25 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #311
  • Aug 12, 2010 3:19pm Aug 12, 2010 3:19pm
Quote
maybe 1.6100 handle will give an opportunity... there is more clarity on 4H & 1H but I couldn't fit the trendlines in and give the clear levels for the fib's

I hate doing this but this could be a possibility
Attached Image (click to enlarge)
Click to Enlarge Name: gcad.gif Size: 23 KB
  • #312
  • Aug 12, 2010 6:51pm Aug 12, 2010 6:51pm
Quoting Naijafx
I hate doing this but this could be a possibility
yes, a few scenario's that can play out...but all roughly saying similar things...
Attached Image (click to enlarge)
Click to Enlarge Name: gcad bat 4h.gif Size: 26 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #313
  • Aug 12, 2010 9:41pm Aug 12, 2010 9:41pm
Hi guys,

I'm sorry to post this after the fact, but I was wondering what you thought, and feel there may still be some pips to be had.

I thought this might be a bearish butterfly on the audnzd h8. Things I like about the trade

1. Trendline broken and tested.
2. Five wave structure appears to have been completed.
3. Possible double top
4. Bearish gartley on m30.
5. Fundamental driver this morning in terms of Kiwi retail sales.

Things I don't like about the trade

1. Fib convergence at D not great.
2. X pt is not an extreme swing high.

On this basis, I feel it may be worthwile to look for short entries on the smaller timeframes. I would be interested in your thoughts.

http://i625.photobucket.com/albums/t...illy/anfly.jpg
Everyone is entitled to my opinion.
  • #314
  • Aug 12, 2010 9:58pm Aug 12, 2010 9:58pm
I have used this little m5 rising wedge, ab=cd for entry. Fingers crossed.

http://i625.photobucket.com/albums/t...ly/anentry.jpg
Everyone is entitled to my opinion.
  • #315
  • Edited 12:25am Aug 13, 2010 12:17am | Edited 12:25am
Quoting mofo
I have used this little m5 rising wedge, ab=cd for entry. Fingers crossed.
you have some nice candles to support a bearish view on the cross and nice fib confluence of just 10 pips for XA1.618 and BC 2.618.

some resistance trend lines would be nice but i couldn't find any.

I see a potential bullish Gartley, forming on the hourlys (in the direction of the trend) so 3 probable scenarios at 33.3% each...
1. No bull gartley forms and price drops below 1.2525 and continues lower
2. Gartley forms and we have a retest of the highs, which will test your patience) which will either confirm that now a triple top is in place, fails and then continues lower, and then you rest easier,
or
3. it blows throw and tests 50% level 1.2665 of the fall from March 2010.

So 66% chance you'll see lower levels. Personally I wish you well, and hope the cross is driven from kiwi strength, as it means my kiwi position will be looking very pretty....
Attached Image (click to enlarge)
Click to Enlarge Name: ozkiwi1h bat.gif Size: 34 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #316
  • Aug 13, 2010 1:49am Aug 13, 2010 1:49am
not much in the way of supporting fib's at XA, but trendline will hopefully do it's stuff...
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad bat 4h.gif Size: 33 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #317
  • Aug 15, 2010 11:01pm Aug 15, 2010 11:01pm
Quoting ChinaWombat
you have some nice candles to support a bearish view on the cross and nice fib confluence of just 10 pips for XA1.618 and BC 2.618.

some resistance trend lines would be nice but i couldn't find any.

I see a potential bullish Gartley, forming on the hourlys (in the direction of the trend) so 3 probable scenarios at 33.3% each...
1. No bull gartley forms and price drops below 1.2525 and continues lower
2. Gartley forms and we have a retest of the highs, which will test your patience) which will either confirm that now a triple top is in place,...
Thanks for your input China. I took a loss on this trade, but learnt something valuable in the process, something you guys no doubt already know, nameley the improtance of the BC retracememt.

I don't draw these patterns the same way as you guys, in that I don't project BC, I measure AB and project this from C. So I am really trading ABCD patterns, not gartleys or butterfly etc. However, I will look for confluence of the termination of the ABCD with a fib retracement of an impulsive XA leg.

To trade this way I really need to understand the ABCD pattern. I believe it's an excellent pattern and somewhat unloved in comparison with the more fasionable gartleys, bats etc.

The breakthrough I had on the weekend was that BC is the key!

For isntance, on the audnzd, I should have realised that as the BC retracement was only 50% of AB, the CD leg was more likely to be a 1.618 extension of AB. This level also coincided with the .788 retracment of the XA leg, and this area of confluence would have been an excellent area for shorting. I have included another example on the aud.

http://i625.photobucket.com/albums/t...y/anlesson.jpg
http://i625.photobucket.com/albums/t...y/aulesson.jpg

The other thing I should have noticed, is that price was able to retrace that far (of XA) after an impulsive move lower. This indicates weakness, and should have alerted me to cover partial or move to breakeven when in the money.

So that was my lightbulb moment over the weekend. I won't post here anymore as my patterns are not pure harmonic patterns, but rather ABCD's with fib retracement confluence. All the best guys.
Everyone is entitled to my opinion.
  • #318
  • Aug 15, 2010 11:52pm Aug 15, 2010 11:52pm
Quoting tankbeta
hey guys its been a while since my last post.
"Some" of my winning trades now are ABCD patterns. but i having hard time on how can i confirm those patterns like my trade on GBPjpy

this my D1 trade yesterday. will this continue until 0.9034? let see
Gooday tankbeta/Chinawombat:
I have been using this indicator one week now and I am trying to figure out the meaning of the onscreen messages so that they can better inform the(our) use of the korharmonics indicator.

Using post #301 as reference, is there any information, the manual aside, that for instance explains the meaning of the three green horizontal line that appears when an ABCD is confirmed as is seen here? As in Also an explanation of ABCDbu CD=1272AB @ 133.55 or ABCDBu CD=1618AB @132.39 ?

This would be most appreciated. When a fib number is confirmed what does the first number in the set 1.066 (1.127) mean? 1.127 means that there is a bullish a 1.127 fib extension or 1.003 (1.000), informing the “D” there was a 100% retracement to “C”

Kindly clarify what the first number means please.
Also an explanation of ABCDbu CD=1272AB @ 133.55 or ABCDBu CD=1618AB @132.39 Would be most appreciated (Perhaps kor4x could assist here? Thanks)

Bless!
  • #319
  • Aug 16, 2010 1:06am Aug 16, 2010 1:06am
Quoting mofo
ABCD's with fib retracement confluence. All the best guys.
they are harmonic patterns so please feel to join us... though I am quite weak on them so you'll be treaching me!

the more input to these pattern structures we have the more that we can help each other filter out the poor ones from the better structured ones. It's always enlightening what another pair of fresh eyes can say about a pattern (Thanks Naijafx!)

For me the key is the BC ratio matching closly to XA, and supporting trendlines, resistances, price action candles. The less confluence we have the poorer the trades such as the EURAUD above which really just had XA and resulted in been smashed.
Catching a falling knife, no, I'm just trading the Gartley!
  • #320
  • Aug 16, 2010 3:47am Aug 16, 2010 3:47am
potential BAT forming on the chfjpy hourly.....886XA at 83.53 and 83.62 2.618BC, and some trendline resistance to put in place the roof..
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy bat 1h.gif Size: 35 KB
Catching a falling knife, no, I'm just trading the Gartley!
0 traders viewing now