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  • #261
  • Dec 2, 2012 12:16pm Dec 2, 2012 12:16pm
Quoting Mr. Pip
Thank you, now the ABCD pattern is the one that occurs the most. It is also the foundation for other advance patterns which we will hopefully cover in the future. This pattern has some variations as it's appearance depends mainly on how shallow or deep the BC leg retraces. There is the ideal ABCD pattern and the rules attached covers this. These are my rules for the pattern as I trade them. It is from my trade plan, I also have the same rules for the other patterns I trade. Enjoy and I hope it hepls you.

Almost forgot, I don't know how to copy...
Thank You Mr Pip for the rules. I will study it carefully and practice identifying these patterns. The rules are succinctly written.

Thank You again.

Cheers
  • #262
  • Dec 2, 2012 1:28pm Dec 2, 2012 1:28pm
Until now it is still :
The Emperor's New Clothes (google it if you dont understand)

i am realy impressed so many praisers already..Hmmm truely amazing
StopLoss is for none belivers... Trust the Gurus..
  • #263
  • Dec 2, 2012 2:20pm Dec 2, 2012 2:20pm
It seems like a solid method. Im going to try selling/buying at the c point by using candlestick reversal formations at the C point. Ill try it on the minute 15 EURUSD tomorrow, may the force be with me! I finally seriously started considering candlestick formations, ABCD, and harmonic trading via this thread, and using the handouts given! Many thanks!
  • #264
  • Dec 2, 2012 3:20pm Dec 2, 2012 3:20pm
Quoting Starry
It seems like a solid method. Im going to try selling/buying at the c point by using candlestick reversal formations at the C point. Ill try it on the minute 15 EURUSD tomorrow, may the force be with me! I finally seriously started considering candlestick formations, ABCD, and harmonic trading via this thread, and using the handouts given! Many thanks!
Good to hear. Remember to qualify your trade there has to be a reason for entry the more you have (confluence) the higher the probability. Trade empowered and the force will be with you. Let price come to you don't chase it. This confirms your premise and validates entry.
If you fail to plan, you plan to fail.
  • #265
  • Dec 2, 2012 4:36pm Dec 2, 2012 4:36pm
Mr Pip,
Firstly thanks for your at 9 er's contributions to this forum.

I have been trading for over 5 yrs but am new to pattern recognition and trading.

The major problem is knowing where X and A start in the development of a pattern. Can A begin again in a trend ( is this a pattern within a pattern?) I realise that there will be retracements within the movement of price between legs, but my question is at what stage within a leg does price movement invalidate the pattern.

Please see chart and see that price at C went to 78.6% but did not have a candle close below 61.8% - the perfect setup for the CD leg. Price moved up nicely and stalled and retraced just below a 100% move (B). At what subsequent stage has the pattern been invalidated or is it still valid, this down move only a retracement.

At what stage would you have moved your stop to BE?

I can only trade for a few hours a day, thus that is why I will concentrate on the 15 min timeframe and please ignore the sell trade as it is a scalp setup off another system I use.

Again thanks to the two of you for you wonderful input.

gregben
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min abcd.jpg Size: 128 KB
  • #266
  • Dec 2, 2012 5:50pm Dec 2, 2012 5:50pm
Quoting Mr. Pip
Thank you, now the ABCD pattern is the one that occurs the most. It is also the foundation for other advance patterns which we will hopefully cover in the future. This pattern has some variations as it's appearance depends mainly on how shallow or deep the BC leg retraces. There is the ideal ABCD pattern and the rules attached covers this. These are my rules for the pattern as I trade them. It is from my trade plan, I also have the same rules for the other patterns I trade. Enjoy and I hope it hepls you.

Almost forgot, I don't know how to copy...
Thanks Mr.Pip for beautifully compiled the ABCD rules..
My Pips Stolen By The Broker
  • #267
  • Dec 2, 2012 6:01pm Dec 2, 2012 6:01pm
Since last thread price has risen sharply to reacd D. Probably not a good example as it spannen the weekend wher e you would not enter a trade
  • #268
  • Dec 2, 2012 6:48pm Dec 2, 2012 6:48pm
Quoting gregben
Mr Pip,
Firstly thanks for your at 9 er's contributions to this forum.

I have been trading for over 5 yrs but am new to pattern recognition and trading.

The major problem is knowing where X and A start in the development of a pattern. Can A begin again in a trend ( is this a pattern within a pattern?) I realise that there will be retracements within the movement of price between legs, but my question is at what stage within a leg does price movement invalidate the pattern.

Please see chart and see that price at C went to 78.6% but did not...

Hello,
Great questions! I can see the wheels spinning in the right direction love it! There is no X in an ABCD pattern and when an ABCD pattern fails usually at the CD leg is when you would start your process of identifying your A leg as XA and the process of qualifying another pattern (Gartley usually). The best way to identify an XA leg is to measure out a dominant swing. A dominant swing is an absolute high and low or low and high.
My trade management is outlined in the rules I posted please refer to it and if needed I’ll post another chart specific to this example.
I mentioned in earlier posts that it is common to see patterns within patterns and even posted an example and the chart you presented has a nice ABCD pattern within it. These harmonic moves inside our potential patterns help us in the confirmation that our analysis is correct. We must keep in mind the larger patterns trump the smaller ones as the smaller one correlate to smaller timeframes or smaller corrections in price action. The pattern you identified is still a valid pattern please refer to my chart for an explanation and thought process. I hope this answers your question? If I need to explain something better please let me know and I’ll do my best to help.
I know there is a lot of line on my chart but I wanted you to see how patterns within patterns help us find confluence and guide us harmonically through price action. There is nothing random about price movement. It is our task to find it’s natural order and exploit the opportunities.
Cheers,
Mr. Pip
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (15 Min) 12_2_2012.jpg Size: 122 KB
If you fail to plan, you plan to fail.
  • #269
  • Dec 2, 2012 7:28pm Dec 2, 2012 7:28pm
Mr Pip,
Many thanks for your explanation and wonderful chart. When you see it in retrospect it looks so simple, the challenge is to see it as it is setting up. I am looking forward to the challenge of spotting these setups as they occur and will follow the forum to continue that learning process.
gregben
  • #270
  • Dec 2, 2012 7:44pm Dec 2, 2012 7:44pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Risk and money management? Yeah this is an area that if I post won't bring much praise if any. The general rule of thumb is to not risk more than 5% of your account balance with any one trade.

My risk is based primarily off the strength of the premise for that trade. For the safety of everyone here, I believe this is a matter best left to you as the manager of your funds.

Quoting snail69
Heaps of valuable information here. Thanks.

9er can you eleborate a bit on risk and money management used with your method/ approach ?
  • #271
  • Dec 2, 2012 7:45pm Dec 2, 2012 7:45pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Dot - send me a PM with the info. I will take a look

Quoting dot
Hi 9er

I have come across material that would have drawn divergence as shown in attachment. Please let me know what you think.
Attachment
  • #272
  • Dec 2, 2012 7:54pm Dec 2, 2012 7:54pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
I hate Mondays.

The daily: It is apparent that the Bulls came out on top to close the week last week. To me, the fact that the daily TF has formed what I surmise to be a "5.0 butterfly pattern". These have been know to validate the X to A leg for the next move (As they are invalid as an ABCD move).

However I have already known the current move on the daily to be X to A for a few days now - so nothing new here

The RSI is at 67, the AO is no help on the daily as all it says is that there is very little upside momentum (I suppose that fact could be helpful)

BIAS: For the daily, on a Monday? Speculative but Bullish for the interim, bearish to close the day
Attached Image (click to enlarge)
Click to Enlarge Name: d.jpg Size: 194 KB
  • #273
  • Dec 2, 2012 7:58pm Dec 2, 2012 7:58pm
Quoting gregben
Mr Pip,
Many thanks for your explanation and wonderful chart. When you see it in retrospect it looks so simple, the challenge is to see it as it is setting up. I am looking forward to the challenge of spotting these setups as they occur and will follow the forum to continue that learning process.
gregben
Fibs and harmonic lead the way to the patterns. Patience your eyes will soon spot them without the need to draw them out. Train your eyes.
If you fail to plan, you plan to fail.
  • #274
  • Dec 2, 2012 8:01pm Dec 2, 2012 8:01pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
The 4H: Maybe a little better picture. There is divergence on this TF. The RSI is turning up. A few days ago we can see where it crosses below the 50, then bounces back over it, upwards (signaling upside trend).

The small divergence tells me that on the 4H, the search for critical resistance level is needed, followed by a bearish divergent candle formation (these setups can often be found by trading from the lower TF's).

Quandry: It's Monday

Bias: Bullish for interim, key resistance hit, then bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.jpg Size: 193 KB
  • #275
  • Dec 2, 2012 8:10pm Dec 2, 2012 8:10pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
1H: The formation of a valid ABCD pattern does very little for my confidence, that it is a "completed" ABCD. Here is why:

Rule: If the first few candles of the B to C leg are extended or longer, this can signal an extension of the C to D leg, usually to the 161.8 Fib or higher. Currently it is at the 127.1 Fibo.

Most of the times the ABCD pattern can be symmetrical (meaning the C to D leg, is the same length (distance) or size as the A to B leg. This is not a hard and fast rule, the first few candles of the B to C leg can sometimes help with this.

But the second of the 2 candles in the B to C leg, while extended in size, closed as bearish divergent with bullish qualities (it closed higher than it opened).

BIAS: ARRRGGGHHHH! Unknown: Bullish (despite the ABCD) for the short term. Draw your Fibos and look for the 161 area to get struck, then wait for a bearish divergent candle whether bullish or bearish in characteristic (closes in the lower half of the candle) or any "paired candle" reversals.

Look for REVERSAL areas
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.jpg Size: 192 KB
  • #276
  • Dec 2, 2012 8:57pm Dec 2, 2012 8:57pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
I guess if I had a favorite setup it would be from the Fractals. The best one in the first fractal that forms outside the alligators mouth. There are a few exceptions to this rule as often times a spike can occur outside the alligators mouth and create waht Bill Williams refers to as "Angulation".

Angulation occurs when price pulls sharply away from the alligators mouth. Look at BW book and do a search for angulation, as sometimes when this occurs it can in and of itself be a reversal.

But yes the first fractal "outside" the mouth. Look on your charts and find areas where price goes through the alligators mouth. Find the first up fractal outside the mouth and tell me what happens!

Quoting maorahamimov
i'm follow on your strategy and like it but i dont understand yet the setups.
i looking all your post and i saw that you have a lot of setups pls write in one post your best favorite enter
if you can , it's be more easy .
  • #277
  • Dec 2, 2012 9:02pm Dec 2, 2012 9:02pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Both actually (demo and live). But I will not ever post my live trading results, and I have discontinued the demo account. I created it to show a person that 90% accuracy is not an anomoly

Quoting Mingary
Demo account?
  • #278
  • Dec 2, 2012 9:16pm Dec 2, 2012 9:16pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Yes it is at 1:00 am MST, however I am awake and in front of the charts starting around 8:30 pm, and I stay in front of them until 1000 am MST. I put in loooong hours. Some days it is all I can do to even open my trade station.

Thank you for looking

Quoting Bary
Let me start by giving a HUGE thanks to 9er for starting this thread, for your time and effort. The way you’re sharing your trading style, the step by step intro and live trading examples, is a great way for us all to learn what you’re trying to teach.



I just finished reading the entire thread and about the gartley pattern. Just ordered Bill Williams book.


First question is when do you start looking at the market, London open? That’s like 1am your time MST, 3am my time EST. If so I’ll be up to watch and learn....
  • #279
  • Dec 2, 2012 9:20pm Dec 2, 2012 9:20pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Couldn't agree more! Find attached some basic rules and principles for ABCD patterns. These are what I refer to as the "basics". Failure to "self learn" these patterns is the most primal failure in Forex.

Quoting Mr. Pip
We will always be students. Once we stop learning, we stop evolving and once we do that we become the dinosaurs LOL. We will definitely wait for a better time to discuss zones. It really is a lot simpler than it looks and very easy to identify don't sweat it. Is there anything in particular anyone wants to learn about the ABCD pattern. Like its rules? I ask this because no one has asked what makes an ABCD pattern?

In trading we have a need to know how things work. This is important to our success. You can't expect a surgeon to perform an operation...
Attached File(s)
File Type: docx Gartley ABCD.docx   298 KB | 486 downloads
File Type: docx Gartley ABCD 2.docx   235 KB | 299 downloads
  • #280
  • Dec 2, 2012 9:26pm Dec 2, 2012 9:26pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Please read the rules at page #1

Never post like this again! This is the problem with people in general. Please shed the mindset that you can't do this. Kick the pipes, knock off the rust and introduce a fresh perspective.

If you are a millionare on your Demo account, why aren't you at a minimum successful with forex?

Word of warning - refrain from these detrimental posts. Have a positive attitude or stay OUT!


Quoting Mingary
Perhaps it is... but on a demo account I am a milionaire...
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