Dear mr. Morten,
rashidin5178,s Q made me thinking. As far as I know, in Gartley CD is shorter than XA while in Butterfly CD is longer than XA.
So, beside counting it's fibs, how do we know a Gartley is valid and not gonna be a Butterfly ?.
Thanks is in the mail
Hi,
The major rule of trading harmonic pattern - is to wait till completion. So, you enter not by anticipating some patterns but in the finish point. So, when you will trade like that - you will definitely know, what particular pattern you intend to trade.
Definitely sure, Sir. I a bit wonder about the depth of retracement because this pattern is perfect (as I know) and it happened on H4 timeframe. So personally, I'm a little bit curious about the potential depth of retracement cause there is a risk to deeper retracement. Since you mentioned in your research that the retracement should not be too deep, it make me wonder why you say that and I have to clarify this thing with you because I a bit afraid of the power of harmonic pattern.
I just need some extra explaination about this pattern and I have no intention to make your research a little bit confused about the potential buy area.
Anyway, I think I got better understand of your research.
Again, sorry for my question and very much appreciated for your answer, Sir. Thanks.
Thanks and Best Regards.
Hi Rashidin,
I've got it. The core of your confusion in expectation that AB-CD pattern has to lead us to reversal. In fact, AB-CD could lead to just some retracement form whole A-D move, for instance 0.382 or 0.618. And in this case it will be treated as nice working AB-CD. This pattern does not always mean major reversal.
That's why I've pointed some levels where this retracement could finish.
Second, I said that retracement should not be too deep, because, as bullish context holds and market not at overbought it has not any strong reason to show deep retracement. To show respect to our AB-CD this will be enough to show retracement till Confluence support. Because if we will see deeper move down - then bullish bias will be under question.
But understand, these words about shallow retracement do not link to AB-CD itself. In reality due to this AB-CD market could show any retracement of any depth. These words were mostly for overall bullish picture.
Good Morning Sive...!!!
Hope you had a great weekend!
You have no idea how much your weekly & daily analysis are apprecieted by yours truly...! THANK YOU..!!!
I couldn't help it but to notice that nobody is mentioning a DROP LAL being developed on the 4H chart. (or it's just me getting confused?) :embarrassed:
Anyway, we'll be ready and with a cold head following the develoments...!!!
Thanks a million one more time Sensei Sive...!!!
Hi Investor,
nice observation, this really could turn to DRPO LAL. Thanks.
This also could be a signal, that I often talking about - "search for clear patterns at lower time frames"
H Sieve,
Thanks for all the work and info provided. I am new to Forex, but I am enjoying trying to fathom it out. Am I right in saying I should look for retracement to about 1.4150 and put stop loss about that point and look for upward movment until we reach about 1.5081. That would be buying the Euro? Thanks.
Roy M Bedford
Hi Roy,
well, I'm a follower of some reasonable decisions on the market rather than blind enter just from the level, even it's significant. Since, when I do research market usually stands rather far from these levels, I just mention it to attract and focus your attention. But then is better to see some confirmation around this levels before pull the trigger. For instance, some reversal patterns, thrust moves, trend shifting to bullish etc. Other words, some patterns that will give you sufficient confidence with this level to enter, that somehow will confirm this level and you might say that yes, probably this is the time to enter.
Hi Investor,
What indicator are you using for plotting daily, weekly, monthly pivots as well as support/resistance levels?
Is it possible to share the same?
Dear Sive,
Thanks for your wonderful mentoring.
Pardon me if I am offending by asking the above questions to fellow forumer.
Regards,
Muzammil
You do not need to apologize. We're here to study and help to each other. Of cause you may ask anybody, even exchange information until it does not a 3d party advertisement and does not break right protection law.
