big mother of a butterfly running last couple of years with fib zone on 14150
every man and his dog shorting usd
setting up for good move
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big mother of a butterfly running last couple of years with fib zone on 14150
every man and his dog shorting usd
setting up for good move
big picture eur usd
using this one as the poster boy for all usd pairs
its hard to think the USD CAD will go lower but isnt that what this is saying?
there was a strong green candle immediately after I took this snap and now both trades are triggered but its bounced off that and heading down again now
http://img301.imageshack.us/img301/3...4092007ma5.jpg
these are fun even with fake money which admittedly makes it much easier....
only a few minutes later and those two trades are +20 and +33
so the USD/CAD short isnt lookin promising altho as I said it offerred quick pips which is always a good start to a trade - allowing you to apply the adage 'never let a good trade go bad' - so yeh closing those at small negatives now.
But those other gartleys I've posted have all given rich pickings - have now closed the USD JPY's at approx +60 and + 90 and the Kiwis spiked up just now closed those at approx +70 +50.
Wish it was real haha!
For clarity
http://www.investopedia.com/terms/g/gartley.asp
http://i.investopedia.com/inv/dictio...dvancedFib.gif
The above Gartley example shows an uptrend XA with a price reversal at A. Using Fibonacci ratios, the retracement AB should be 61.8% of the price range A minus X, as shown by line XB. At B, the price reverses again. Ideally, retracement BC should be between 61.8% and 78.6% of the AB price range, not the length of the lines, and is shown along the line AC. At C, the price again reverses with retracement CD between 127% and 161.8% of the range BC and is shown along the line BD. Price D is the point to buy/sell (bullish/bearish Gartley pattern) as the price is about to increase/decrease.
The spread sheet for gartleys is here
http://homepages.ihug.co.nz/~peat/th...ts_webpage.htm
I'm new at looking for these things but GBP/USD daily looks like it could fit??
http://i191.photobucket.com/albums/z...gjhu32/gbp.gif
Hello Craig
Nice start. The B point suggest a potential BF at this stage.
regds - arco
afternoon guys , it was a real pleasure to meet everyone and look forward to do it again
craig , your on to it , my only advice would be the possibility of it turning into a butterfly with a 127 extension .
it has a degree of asymmetry which would make it possible to morph but always worth a look