Gartley/Butterfly patterns

[roddy]

Hi All

i hope everybody has had a great Xmas and New Year, if anybody has made the popular workout at the gym New Years
resolution,dont delay,get down there and sign up,i recommend it!
on an easier note heres chart of AUD/NZ



CHEERS roddy

[roddy]

Here is CAD and as Xerof describes it well into the batters box!



Cheers Roddy

[arco]

Scott Carney Files a Patent on Bats, Crabs, Butterflies and Gartleys

#20060235780 Methodology of utilizing fibonacci numbers to analyze and predict trends in financial markets

http://www.freshpatents.com/Methodol...pe=description

[peat]

he'll sue you Arco watch out!

[arco]

Peat

Yep I've already changed my name to aroc and moved house, now all patterns will now be called shapes to protect the innocent

GTA - aroc

[arco]

I just discovered this shape - amazingly it seems to
have some nice fibonacci ratios. [:0]





http://www.yesnet.yk.ca/schools/jack.../butterfly.gif

[dumbass]

i thought it might be useful to review a few patterns and get a bit of a discussion going on

the most important points of these patterns and how to trade them.

THE BAT carneys favourite probably because he "invented it"

the pattern tests established support or resistance and can give a sharp reaction move

most important numbers 886 xa

b point retracement ideally a 50 or 38.2

carney would enter this pattern ( BAMM bat action magnet move ) at break of b point

plenty of pips available as bat is a deep retracement pattern and the b point is 50 or less

would be riskier in a gartley

target around d point completion ( potential reversal zone box )

other entry would be completion of d point . carney looks for test of harmonic levels eg 886 xa , 161 bc extn , 127 ab =cd with impulse reaction

to be continued with stop loss and targets

[dumbass]

carrying on, stop loss set a tad below x point

entry fired on test of fib levels

initial target 38.2 of pattern ( xa) carney suggest a .382 trailing stop from initial reversal

point to extreme ( e ) . this was triggered and trade closed

missed out on big pips but you just cant win them all

[arco]

DA

What date is your 'x' point................and your entry point/trigger


I have several possible 'x' points....... (still showing on my chart).



rgds - arco

[dumbass]

this is aud chf x point 5/12/06

trigger i reckon carney would be blindly in somewhere on the reaction bar on 06/03/07

me being a bit of a jelly probably the test of 127 ab =cd on 07/03/07