trading forex using Gartley Patterns

Looking a little grim for my au short. -8 on asian pos and scratched out on the addition.

This m5 butterfly coincides with the .9980 level from the h1, and is my last chance really. At this stage it's looking like it might hit D ata good time of day - just after ftse open.

The au saga continues.

Hanging in, and now this gartley testing broken t/l at R1 having made lower low. Fingers crossed.

Bullish Gartley

Oh man, i got roasted on the au shorts! cadjpy and gold on the other hand were niiice.

confluence looks ok, with the trend...let's see

http://2.bp.blogspot.com/_dswi7ZSR8G...bfly%2Bbat.gif
bullish b-fly with confluence of ab=cd @ 1.27XA
there is a possible BAT structure as well, with 1.27ABCD just under the B-fly confluence, however the BC extension (by default the XA extension as well) falls short of ideal minimum 1.618
the break of the supporting trend line causes some concern though looks like good R:R trade if can stay above X

possibly entering too late, missed the 1.3270 entry, and just doing a basic 1-2-3 entry and only 1R:R on this trade

TP target is .618 of CD

I think euraud has one more upleg before it is going to consolidation

and you're harmonic reasoning is?

you can have your up-leg now...i'm square

http://3.bp.blogspot.com/_dswi7ZSR8G...ily%2Bbfly.gif
potential longer term set-up to watch for

BAT with ABCD @ 0886XA
BFly with ABCD @ 1.27XA

audusd bullishhttp://2.bp.blogspot.com/_dswi7ZSR8G...1011%2B5-0.gif
gbpjpy bearish
http://2.bp.blogspot.com/_dswi7ZSR8G...2Bh4%2B5-0.gif

http://2.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
entry on price volume divergence

http://1.bp.blogspot.com/_dswi7ZSR8G...ey%252B121.gif
with the trend, multiple confluence points

Fibs Measured 1.27

Driving 3's... CHFJPY Daily...

Yeah I had this one but, this trade failed.

http://harmonicstube.blogspot.com/20...fly-entry.html

Short GU, hm?

As I understand it- harmonics are based off of EW's or failed EW's. In the event the EW is of larger degree- the harmonic WILL fail- that's why the % of success on larger TF's is greater than smaller TF'S. MM and SL are more important than identifying a pattern.

Over the long term harmonics will be successful- mind of SL and TP's are reasonable.

I politely disagree... you misunderstand it,
1) It's simply wrong to say Harmonics are based on EW's. Please see anything from Ross Beck where he elegantly and succintly shows this is completely false. He shows that you can build EW from the basic 1935 Gartleys, not the other way around. Best of all you can bin the alternate counts.
2) u need to understand if it's with the trend or against the trend, and how the XA point is derived. EW of a larger degree is just MTF analysis.
3) Smaller time frames show, for my account, equal, if not greater success than larger time frames. They have much more probability to get to 1.61AD/CD. For larger time frames the success of the pattern is inversely porportional to the number of bars in the pattern. The more bars and the more chance it wont succeed.
4) Off course mm is important in all trading styles and it's an extraneous comment.
5) All that the gartley and other harmonic's are doing is is estimating when to get in on a pullback after a strong impluse move. Very simple. While EW needs confimation for Wave 1, and maybe you can get into Wave 3, Gartleys get you in at wave 1 without all the over complications that EW traders seem to like to get themselves bogged down in.
6) It's just plain ignorant to say that the harmonic will fail if against the EW of a higher degree. You always have an alternate count in EW so by definition everything will fail as you have an each way bet on the market moving forward.

http://2.bp.blogspot.com/_dswi7ZSR8G...%2B24jan11.gif
not sure if it has done enough so still waiting for ab=cd,