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Thread: Harmonic Journal

  1. #11
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    Quote Originally Posted by drapichrust View Post

    How you treath price gaps? for me they is no real gap, this is just lacking data in MM broker


    emerging butterfly on EURJPY M15 waiting to handle him

    drap
    Me too there are no real gaps..
    Thanks for the update on EURJPY... although normally I dont trust lower time frame patterns ( I use 1hr charts) Its intresting to see how she will behave. I would trade her if she was confirming a pattern on the higher time frame 1hr.

    BTW how do u determine the SL for extension patterns?.... this is my dilemma.
    Optimizing human brains to speed up evolution

  2. #12
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    See my thread for a very cool indicator that can aid your analysis greatly... I bought it from BJF Trading group.
    Last edited by jaguar; 02-21-2012 at 10:44 AM.
    Optimizing human brains to speed up evolution

  3. #13
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    Quote Originally Posted by jaguar
    BTW how do u determine the SL for extension patterns?.... this is my dilemma.
    Well, in theory butterfly shouldn't exceed 1.618XA so i put my SL above this level, I dont trade any other extension pattern

    See my thread for a very cool indicator that can aid your analysis greatly... I bought it from BJF Trading group.
    Accually Iam testing other method of confirmations, but I am observing your results in your topic

    p.s. didnt trade that butterfly on EJ, incomplete

  4. #14
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    yesterday case of Bearish Butterfly on EURJPY M15


    Well pattern looked nice till it found resistance on 1.27XA, it took him a while to break it and go further, not bad entry near 1.618XA, tight SL. My one and only mistake was that I traded this pattern, I shouldn't because it is not looking nice and didn't get other confirmation but I was already so into this that i didn't saw that. Also on higher TF it was looking already preety overbought so i took my chance and got stopped this morning

    plz feel free to comment

    H4 EURJPY overview

  5. #15
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    Quote Originally Posted by drapichrust View Post
    yesterday case of Bearish Butterfly on EURJPY M15


    Well pattern looked nice till it found resistance on 1.27XA, it took him a while to break it and go further, not bad entry near 1.618XA, tight SL. My one and only mistake was that I traded this pattern, I shouldn't because it is not looking nice and didn't get other confirmation but I was already so into this that i didn't saw that. Also on higher TF it was looking already preety overbought so i took my chance and got stopped this morning

    plz feel free to comment

    H4 EURJPY overview
    Another trick known is to trade pattern failure. Although you have to be careful with this. Especially Extension patterns. I am looking to do it too.
    Optimizing human brains to speed up evolution

  6. #16
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    BTW...nice gartley on EURCHF 4hr. I am Long on it already.
    Optimizing human brains to speed up evolution

  7. #17
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    yesterdays Bearish Gartley on AUDUSD H1,
    did I played it the best i can? Yes, but i could set lower SL.. now after fact i dont know is that was even Gartley because his PRZ clearly voliates X point, it was not also a butterfly because he didnt reach 1.27XA. It looks like simple AB=CD with alternate level of 1.27AB...


    any thoughts on this pattern?

    drap

  8. #18
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    Hi drapi, i' ve traded that one too, but not like gartley, as you have pointed out it violated the x point, i' ve traded like butterfly, it reached 113 fib level and then fell down, i closed at tp1

  9. #19
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    i think it's common mistake. we try to trade pattern as the Gartley pattern but when it fails we still try to trade thinking it must be a butterfly than.
    You are right, if you thought it's a gartley your SL was too high.
    btw: note the internal ab=cd inside the CD swing.
    so even if you took SL on your first trade you could have a good reason to re-enter again.
    Fear of traders: when they catch an SL they afraid to re-enter on the next signal (even if it's more valid signal than then first one).

  10. #20
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    Quote Originally Posted by kidrock82
    i' ve traded like butterfly, it reached 113 fib level and then fell down, i closed at tp1
    were you set up your SL?

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