Works very well for day-trading too. Note that this one wasn't spotted by ZUP et al due to the poor wave count using ZigZag.

The Gartley Pattern - Truth or Fiction?

Hi GeppyG, and thanks for your reply. I didn't mean to make specific comments on your chart or anything you said, just refer to the theme of identifying a retracement range that I picked up in your post. It seems like we're very much on the same ...

600 Pips a Month with Shahab and GeppyG

You're most welcome. Not sure I understand your question...could you re-phrase, please? Also, there's a longer term bullish pattern visible on the daily chart with bottom of the potential reversal zone coinciding with the level mentioned earlier. ...

600 Pips a Month with Shahab and GeppyG

Good question! My comments would be that 1) Harmonic patterns only make sense within a Fibonacci ratio based trading plan. Then you should be able to get about 70% hit rate with good risk/reward ratio. 2) Indicators like ZUP are close to useless, ...

The Gartley Pattern - Truth or Fiction?

Hello shahab8b, thanks for brilliant charts and analysis, and a first class thread. I too see a bounce in the Aussie happening, but as so often after trending NFP Fridays there may be an extension of the move by Sydney Sunday until Tokyo gets ...

600 Pips a Month with Shahab and GeppyG

Euro 5th Wave — The fifth wave of the six month old Euro down-trend exhibits the rare pattern of a fifth-wave-diagonal-triangle. The theory book tells us that such patterns have unusually strong corrections following completion of the fifth ...

Islander and Medici trade the European open

Remember that the Euro downtrend started with a suprisingly strong jobs report in December. And maybe it takes a break with the suprisingly weak jobs report today. The weakness is, even more than in the headline number, that more than 90% of the ...

Islander and Medici trade the European open

Euro dip — It's darkest just before dawn. I made the attached charts on Monday, indicating a possible reversal around current levels. For now 138.2% of AB, exactly to the pip, has stopped the downward journey. If it holds a possible target to ...

Islander and Medici trade the European open

Cable again — A couple of Fibonacci cluster areas on the way up.

Islander and Medici trade the European open

1.5030 next target in a wave of three — Cable is keeping up the bullish momentum, with next target the 61.8% level of the push down from 1.5523, as can be seen from the 4 hour chart. From the daily it is clear that the down-trend has completed ...

Islander and Medici trade the European open

Two nice counter-trend trades in Euro-yen — I didn't trade these but find them quite instructive. Parabolic arcs, such as the ones in Euro pairs Tuesday, almost always retrace 61.8% of their range. So if you missed out on the sharp move up, ...

Islander and Medici trade the European open

The relevant charts were posted in posts #1680, #1685 and #1723.

Islander and Medici trade the European open

David, you're welcome. I wouldn't be thinking about possible future lows when doing my day trading. What matters is what levels are in play now and where reversals may happen or intra-day trends start. This morning I went short when 61.8% of XA held ...

Islander and Medici trade the European open

Same pattern as I posted earlier, except that I use 1,272 of AB to arrive at 1.4493.

Islander and Medici trade the European open

Wouldn't say that the harmonic pattern failed at D - it was good for about 175 pips to the downside. D was placed there because it was the 1.272 extension of AB. Being a level that every body have on their charts, it's a likely level for take-profit ...

Islander and Medici trade the European open

Nice thread! — Nice thread! Best of luck. Will definitely keep an eye on this. FWIW, attached is my two pennies on potential reversal levels in the Aussie. There's a couple of Fibonacci ratio confluences that stand out. Consider it my ...

600 Pips a Month with Shahab and GeppyG

Hi David, and thanks for chart. I used to use EW a lot when I traded equities. The book that opened my eyes to EW was Tony Plummer's Forecasting Fianncial Markets, from which I learned a lot about market psychology that I apply to harmonic patterns ...

Islander and Medici trade the European open

Bullish Bat in Cable — Here's the bullish pattern mentioned earlier - in case cable heads down from here.

Islander and Medici trade the European open

As per the pic in the last post, the 61.8% retracement of the post flash crash drop at 1.4740 seems to be what's in focus right now. So far resistance holds. Interesting to note how attention goes back to the longer term charts once the breakout ...

Islander and Medici trade the European open

Hello queenfx, and welcome to the thread! Nice videos on youtube. Finally I get some use for the Russian I once learnt! As to your question, I believe the bat patterns that would provide resistance and potentially invalidate the bottom formation ...

Islander and Medici trade the European open