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Harmonic and Classic Patterns

  • #481
  • Jul 2, 2012 8:29am Jul 2, 2012 8:29am
These are the type of trades I look for we have continuing divergence on the H1 TF which could turn into regular divergence. So based on the pattern and the divergence this is my trade setup

Entry 1.0275 pendings at these levels 1.03, 1.035, 1.04, 1.045, 1.05, TP1 1.0130, TP2 1.005
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h1.jpg Size: 142 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #482
  • Jul 3, 2012 2:42am Jul 3, 2012 2:42am
Gartley entry techniques (draft post) -> http://tradingarsenal.com/gartley-pa...y-pattern.html
  • #483
  • Jul 3, 2012 3:03am Jul 3, 2012 3:03am
Quoting kor4x
Gartley entry techniques (draft post) -> http://tradingarsenal.com/gartley-pa...y-pattern.html
If your back/forward testing shows SL's are a known spike target for pattern trading by the sharks, then why not replace your SL's with a pending for a better second fill.
Some people say I'm lucky, but the more I practice the luckier I get
  • #484
  • Jul 3, 2012 3:21am Jul 3, 2012 3:21am
that is correct. One of the entry method is based on placing several pending orders, that not necessarily have to finish at 100% XA ret.
... but in such cases we are not talking about pure harmonic trading methods, as the pattern with D point below X is not anymore our Gartley pattern.
  • #485
  • Jul 3, 2012 3:38am Jul 3, 2012 3:38am
Quoting kor4x
that is correct. One of the entry method is based on placing several pending orders, that not necessarily have to finish at 100% XA ret.
... but in such cases we are not talking about pure harmonic trading methods, as the pattern with D point below X is not anymore our Gartley pattern.
Well that type of entry system works best with divergence, the AUDUSD trade I posted above might fail has a pattern, but the H1 regular divergence will bring me back to around my first entry level, more so now that it is further being supported by the beginning of continuing divergence on the H4.

PA moves either from divergence to divergence or from convergence to divergence, so if one trades their account with small leverage it is possible to trade out of any situation without having to use SL's
Some people say I'm lucky, but the more I practice the luckier I get
  • #486
  • Jul 4, 2012 6:53pm Jul 4, 2012 6:53pm
Looking for this Butterfly to complete at the 1.272 extension of the A to B leg. Then look to go long.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPgif4hr.jpg Size: 209 KB
  • #487
  • Jul 5, 2012 11:23am Jul 5, 2012 11:23am
I am looking long on EURUSD (Gartley bullish). What's your idea for EURUSD?

http://harmonicstube.blogspot.com/20...y-pattern.html
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-h4-emerging-gartley-pattern-2012-07-05_1808.png Size: 54 KB
  • #488
  • Jul 5, 2012 3:13pm Jul 5, 2012 3:13pm
Nice clean chart Kor4x. Looks like a good call. Probably would put my stops below the impluse leg if you are going long.
  • #489
  • Jul 5, 2012 4:54pm Jul 5, 2012 4:54pm
Caught this butterfly completion for a sell on the AUD/USD 4hr. Looking to TP at 1.0233 with a SL at 1.0333. Anyone have any thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDgif4hr.jpg Size: 171 KB
  • #490
  • Jul 5, 2012 6:29pm Jul 5, 2012 6:29pm
just my imagination

solid box is range for potential bullish shark - my imho

yes i hate friday and nfp .......ughhhhhhhhhhhhhhhhhhhhhhhhhhffffffffffff
Attached Image (click to enlarge)
Click to Enlarge Name: pvj556.gif Size: 17 KB
not euphoria follower
  • #491
  • Edited 9:00pm Jul 5, 2012 7:47pm | Edited 9:00pm
Quoting kor4x
I am looking long on EURUSD (Gartley bullish). What's your idea for EURUSD?

http://harmonicstube.blogspot.com/20...y-pattern.html
There is no divergence on the H4 or one TF lower (H1) for me to trade this pattern, also since your post (which was 8hrs ago) there now looks to be a bearish flag forming, this consolidation could continue all day until the NFP.
Some people say I'm lucky, but the more I practice the luckier I get
  • #492
  • Jul 6, 2012 2:13am Jul 6, 2012 2:13am
@Robot Trader: Can you please explain a bit how you use the divergence to confirm/filter your trades. There is a bit we prepared in the past for Gartley pattern and divergences http://tradingarsenal.com/gartley-pa...ivergence.html , but I am happy to learn more. When/if I look on divergence i look same of higher TF, you look for div on lower TF, right?
  • #493
  • Jul 6, 2012 2:20am Jul 6, 2012 2:20am
chf H4, D1 - wait
Attached Image (click to enlarge)
Click to Enlarge Name: fgdx.gif Size: 57 KB
  • #494
  • Jul 6, 2012 3:36am Jul 6, 2012 3:36am
Quoting kor4x
@Robot Trader: Can you please explain a bit how you use the divergence to confirm/filter your trades. There is a bit we prepared in the past for Gartley pattern and divergences http://tradingarsenal.com/gartley-pa...ivergence.html , but I am happy to learn more. When/if I look on divergence i look same of higher TF, you look for div on lower TF, right?
Hi Kor,

I use mainly MACD histogram, but will use Stoc for hidden divergence.

I look for divergence on the same TF or one TF lower has the pattern I am going to trade, if it is on the same TF and it is continuing divergence then I find the price will come back to my first entry point even if the pattern fails, this it not always the case with regular divergence.

MY definition of Regular and continuing

Regular = NPN or PNP on the histogram
Continuing = Negative or Positive only, but if continuing turns into regular I still treat it as continuing.

So if I see a pattern with continuing divergence I am happy to enter once the pattern is formed, but if the pattern is regular I will enter at known S&R or candle patterns.

For hidden divergence (trend continuation type) I go to 1 TF lower to find either regular or continuing, I like to see hidden of both MACD & Stoc for better conformation.

Hope that helps
Some people say I'm lucky, but the more I practice the luckier I get
  • #495
  • Jul 6, 2012 6:59pm Jul 6, 2012 6:59pm
I sold the butterfly completion I called yesterday and made 120 PIPs to the 38.2 retracement. Good way to end the week.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDgif4hr.jpg Size: 168 KB
  • #496
  • Jul 7, 2012 11:42pm Jul 7, 2012 11:42pm
Quoting Robot Trader
These are the type of trades I look for we have continuing divergence on the H1 TF which could turn into regular divergence. So based on the pattern and the divergence this is my trade setup

Entry 1.0275 pendings at these levels 1.03, 1.035, 1.04, 1.045, 1.05, TP1 1.0130, TP2 1.005
Hi Robot, could you share macd divergence indicator?

Thanks.
  • #497
  • Jul 8, 2012 7:02pm Jul 8, 2012 7:02pm
Quoting orionfx
Hi Robot, could you share macd divergence indicator?

Thanks.
Hi

I can't share the one on my chart (for commercial reasons), but I can share the attached which is also quite good at finding hidden divergence.
Attached File(s)
File Type: ex4 FX5_Divergence_V2.1.ex4   11 KB | 954 downloads
Some people say I'm lucky, but the more I practice the luckier I get
  • #498
  • Jul 8, 2012 7:20pm Jul 8, 2012 7:20pm
Quoting Robot Trader
Hi

I can't share the one on my chart (for commercial reasons), but I can share the attached which is also quite good at finding hidden divergence.
Great thanks, mate.
  • #499
  • Edited 2:34am Jul 9, 2012 2:13am | Edited 2:34am
Update to my AUDUSD trade

The continuing divergence did the job of bringing the price down below my first entry, but now we have hidden divergence on the 4H and a possible bearish flag forming, which will probably break down to the trendline (drawn in yellow) this trendline also equals the 20 ma of the daily BB at around 1.0150, so if the price can break and hold below 1.0150 then my TP1 target should be achieved, but if price bounces of this level I will close my 2 open trades and take my profit.

Medium term I am bearish for this pair, but this does not mean price will not go higher before testing 0.96 again
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h4 uptade.jpg Size: 145 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #500
  • Jul 9, 2012 3:29pm Jul 9, 2012 3:29pm
First off, I would like to thank ph19golf and poruchik helping us better understand harmonics patterns through posting live charts examples of butterfly,shark and cypher pattern. Kudos to both of you!!

Below is my first contribution(all credits goes to poruchik and ph19golf as it is through reading their posting that lead me to see yet another live example harmonics pattern).

H1 EUR/JPY: Bullish Butterfly

2012.06.28 11:00 X at 98.30 (approx)
2012.06.29 18:00 A at 101.40 (approx)
2012.07.02 17:00 B at 99.80 (approx)
2012.07.03 18:00 C at 100.80 (approx)
2012.07.09 02:00 D at 97.50 (approx)

Will be posting chart another time. Having problems with my mt4
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sezam75