FOREX PRO Weekly December 12-16, 2011

Triantus Shango

I choose cream .. for show the trendline as well :) hope help ....

Btwn it showed by sive sir long time ago when first wing formed :p

2nd chart Shows .. Butterfly target Coincide with retrecemnt and previous souuprt now resitance ..and previous trendline now resitance ..etc etc :|
 

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Also price point has now traded down to result in "stop grabber" from Nov 30, 2011 low.
 
i'll be damned! thanks q-rick. weird though, i also use MT4, looking at SPOT, and although the price curve is the same, some candles OHLC are quite different from yours. weird.
 
by the way q-rick, what is the typical retrace max level if the gartely buy is valid? does it usually exceed the C point?
 
thanks jyotiprakash! i see it clearly ;)
same question as to q-rick: what is the usual target retrace level after a gartley buy? 61.8% of AD? or more?
 
Gartley 222 will often lead to new high (sometimes explosively) however, more often & probable is .618
 
One more thing to watch here (imho). I always expect "stop grabber" to be more than just a couple of pips so I expect that market COULD trade a little lower after a slight pop. In this case I see a BF BUY on the 15m around 1.3250. bf buy @ 1.3250 ish.gif
 
So we have Gartley 222 on 4H, BF on 15m, stop grabber and pivot. We should be good here for a BUY (IMHO).
 
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