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trading forex using Gartley Patterns

  • #401
  • Sep 7, 2010 4:23am Sep 7, 2010 4:23am
I missed the opportunity last week on kiwi 4H but there is a tiny weeny gartley that might be forming on the 30M which may (or may not) provide an entry point to get short. orders at .7225, chop out at .7270 (above prior resistance) and trendline...
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd bear bfly.gif Size: 36 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #402
  • Sep 7, 2010 7:58pm Sep 7, 2010 7:58pm
Quoting ChinaWombat
I missed the opportunity last week on kiwi 4H but there is a tiny weeny gartley that might be forming on the 30M which may (or may not) provide an entry point to get short. orders at .7225, chop out at .7270 (above prior resistance) and trendline...
Hi ChinaWombat,

Thanks for the GU and EC bartley lol. I liked the EC bat better despite lack of t/l support, but it looks like you would have bagged some pips on the first D, so congrats.

I managed to get onto the kiwi, guess I should have posted at the time. Covered some around the figure and shooting for B on the balance.

http://i625.photobucket.com/albums/t...oreilly/nu.jpg

And the EG worked well, although I probably could looked for a few more pips.

http://i625.photobucket.com/albums/t...oreilly/eg.jpg

Finally, I have this little au m15, but am not too keen as I feel the market is caught short and liable to squeeze. May take if i see an h1 reversal candle formation. Pivot in the area, and I guess old support may provide some resistance, but my gut doesn't feel great about it. Large C retracement might indicate CD=1.272AB=.9170, so I guess I will just watch the .9160-70 zone, however at that point the shortw will be weak and X may be in serous danger.

http://i625.photobucket.com/albums/t...oreilly/au.jpg
Everyone is entitled to my opinion.
  • #403
  • Sep 7, 2010 8:59pm Sep 7, 2010 8:59pm
Quoting mofo
I managed to get onto the kiwi, guess I should have posted at the time. Covered some around the figure and shooting for B on the balance.

Finally, I have this little au m15, but am not too keen as I feel the market is caught short and liable to squeeze. May take if i see an h1 reversal candle formation. Pivot in the area, and I guess old support may provide some resistance, but my gut doesn't feel great about it. Large C retracement might indicate CD=1.272AB=.9170, so I guess I will just watch the .9160-70 zone, however at that point the shortw...
good job on the kiwi, it has produced a very nice result, just picked up 50 pips for tp1, and BE+1 now, and now see if the bearish B-fly can continue the job.

I saw the audusd pattern and left some orders at .9160 overnight hoping that the kiwi bounce might also give it a leg up but no joy. I'm at BE+1 for the BAT sale @ .9170 from last week after TP1 done, and still treading water on the other .9125 sale so I'll just stick with those for the moment...
Catching a falling knife, no, I'm just trading the Gartley!
  • #404
  • Sep 7, 2010 9:33pm Sep 7, 2010 9:33pm
China,

I am also looking at this area on the audnzd to possibly add to existing short. I took profit on some below, and may put it back out here. This level is also approximately the 50% retracement form recent high.

http://i625.photobucket.com/albums/t...eilly/an-2.jpg
Everyone is entitled to my opinion.
  • #405
  • Sep 7, 2010 9:59pm Sep 7, 2010 9:59pm
interesting confluence in gbpaud 1H but beware we are near critical daily lows.

for a gartley we have nice 1.27 BC@ 1.6945, with .786XA at 1.6945, some nice past S/R at similar price, and a downtrend line which may offer resistance

if the gartley fails then we look for a crab at 1.618XA @ 1.7173, with [email protected], and previous S/R at 1.7185, along with downtrend lines...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud bearish.gif Size: 28 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #406
  • Sep 7, 2010 10:07pm Sep 7, 2010 10:07pm
Quoting ChinaWombat
interesting confluence in gbpaud 1H but beware we are near critical daily lows.

for a gartley we have nice 1.27 BC@ 1.6945, with .786XA at 1.6945, some nice past S/R at similar price, and a downtrend line which may offer resistance

if the gartley fails then we look for a crab at 1.618XA @ 1.7173, with [email protected], and previous S/R at 1.7185, along with downtrend lines...
Thankyou, like it a lot.
Everyone is entitled to my opinion.
  • #407
  • Sep 7, 2010 10:42pm Sep 7, 2010 10:42pm
news out in a few hours on gbp but this has some nice charactristic's
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd bear gartley.gif Size: 27 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #408
  • Sep 7, 2010 11:39pm Sep 7, 2010 11:39pm
Quoting ChinaWombat
news out in a few hours on gbp but this has some nice charactristic's
ChinaWombat,

Doesn't CD have to at least equal AB in length, if so this one might not be valid.
Everyone is entitled to my opinion.
  • #409
  • Sep 8, 2010 12:03am Sep 8, 2010 12:03am
Quoting mofo
ChinaWombat,

Doesn't CD have to at least equal AB in length, if so this one might not be valid.
yes, it should be...which brings it in just under X, around 15422ish.... so could form double top near X though i like the other confluence of previous S/R and fibs....

whatever happens it's always educational and adds to our bag of experience

thanks for the pick-up
Catching a falling knife, no, I'm just trading the Gartley!
  • #410
  • Edited 8:55pm Sep 9, 2010 7:50pm | Edited 8:55pm
possible bear gartley but ab=cd is the pink line which is a problem. Prior resistance, and descending trend line provides bearish resistance on pure price action if we see reaction at resistance. Confluence of fibs at 81.40/45ish, plus .886 of A2B2 of next bigger frame potential gartley X2 also falls here... This is early Asia so be nimble
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy bear gartley.gif Size: 31 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #411
  • Sep 9, 2010 10:08pm Sep 9, 2010 10:08pm
nice pin bar on 4 hours, and dailys closing soon (I'm on EST)

would have liked to see a test of .9324 resistance and associated targets (which may still come), but enough fib and prior resistance to establish shorts here for long term structuring position. AB=CD fell short at .9108, and didn't get to 1.27AB=CD
Attached Image (click to enlarge)
Click to Enlarge Name: audusd bear bat.gif Size: 37 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #412
  • Sep 9, 2010 11:03pm Sep 9, 2010 11:03pm
guys,

check out the power of the humble abcd pattern. kiwi in a good rhythm.

http://i625.photobucket.com/albums/t...eilly/nu-2.jpg
Everyone is entitled to my opinion.
  • #413
  • Sep 9, 2010 11:12pm Sep 9, 2010 11:12pm
a few nice fib confluences at 1.0170, plus rising trend lines, and prior support, a bit far away today but worth keeping an eye upon
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad bull bat.gif Size: 33 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #414
  • Sep 9, 2010 11:16pm Sep 9, 2010 11:16pm
Quoting mofo
guys,

check out the power of the humble abcd pattern. kiwi in a good rhythm.
hopefully that wont extend to the all-blacks in Sydney tomorrow night

btw, how do you like market scope for your fibbing work?
Catching a falling knife, no, I'm just trading the Gartley!
  • #415
  • Sep 10, 2010 12:58am Sep 10, 2010 12:58am
Quoting ChinaWombat
hopefully that wont extend to the all-blacks in Sydney tomorrow night

btw, how do you like market scope for your fibbing work?
haha, i am actually going to that game chinawombat. i am giving the all blacks a 13 pt start!

i just scan the market manually for my patterns. am not very savvy technically and am not sure if i can use the korharmonics indicator with fxcm as my broker. any help on this matter would be appreciated.
Everyone is entitled to my opinion.
  • #416
  • Sep 10, 2010 1:11am Sep 10, 2010 1:11am
Quoting mofo
haha, i am actually going to that game chinawombat. i am giving the all blacks a 13 pt start!

i just scan the market manually for my patterns. am not very savvy technically and am not sure if i can use the korharmonics indicator with fxcm as my broker. any help on this matter would be appreciated.
I think u will need to download MT4 from fxcm and then get Kor downloaded from his website and just run it in the background to scan through for potential set-ups. I still think you need to do things manually as well, but for stuff I find difficult to 'see' Kor is pretty handy, or to give a different viewpoint. I think even Kor says that the set-ups from the indi he ignores if they don't fit into the pattern. Good luck for tomorrow night, car'n the wobblies!!!!
Catching a falling knife, no, I'm just trading the Gartley!
  • #417
  • Sep 10, 2010 3:23am Sep 10, 2010 3:23am
nuff said...
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad 3 drives.gif Size: 36 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #418
  • Sep 10, 2010 4:42am Sep 10, 2010 4:42am
I got stopped out on the cadjpy at BE after tp1 done. after reviewing the chart it may be worthwhile to consider a potential crab forming if it does break the lower frame descending trend line tonight. A better cluster of fibs forms, 3.618AB=CD pink line, 1.618BC blue line, and 1.618XA fib shown, plus previous resistance a little above it, and decending trend line all indicate that 83.00/20 will be a tough nut to crack..
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy crab.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #419
  • Sep 10, 2010 6:16am Sep 10, 2010 6:16am
pink ab=cd
blue 1.27bc
Attached Image (click to enlarge)
Click to Enlarge Name: audcad bat.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #420
  • Sep 10, 2010 10:20am Sep 10, 2010 10:20am
Good day to all harmonic traders!

ive been trading for 1 month already using korharmonics indicator using a 25$ demo account so far i already doubled it ( M15 time frame) harmonic trading is really the way of trading

A I+ABCD bullish in m15 , i put some trendlines , horizontal and vertical lines hoping for the retracement on D and hit the TP point ....will this go up?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadabcd-comp.gif Size: 25 KB
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