Hi man, those pictures i posted were only to illustrate the differnt ab retracements of xa. to show there were specific points to different animals, which made them distinct. the bc retracements seem to be shared by bat, gart, butter and crabHey,
I actually believe you are confused with the Gartley pattern and Butterfly pattern. In the charts you posted above, why does point D not exceed point X?
For butterfly pattern, point D ALWAYS exceeds point X............
Hi sive, those attacments wer simply to show different ab retracement points.Hi Guys,
Quinch has attached Bat pattern or "222" - they are the same, while Butterfly looks different.
0.618-0.786 retracement is perfect for butterfly, but showing 0.5, 0.88 or even 1.0 will not cancel it.
Quinch, have you read out Forex Military School, chapter dedicated to harmonic patterns?
There are a lot of info, that might be interesting for you.
Hi Brandon,Hey Sive,
Is there any particular reason why you have been choosing 50% retracement as an area of good potential support?
If I recall correctly from your previous video, you stated that you expect market to make an AB-CD retracement on daily down to POSSIBLY 50% of whole thrust up (1.2600). And previously, you also took 50% of most recent thrust up on daily (1.2840) and obviously it has been solid support and even went up to 1.3030 from that 50%.
So, my question is, why is it that you keep taking the 50% retracements? Do you usually do this after a huge thrust up or down?
Take a look at my chart. Without your guidance last week to tell us to watch out for 50% support (1.2840), I probably would have placed buy orders at k-support (1.2740) which would have NEVER been hit
I would have placed buy order at 3/8 support on daily (1.2901) which would have eventually gone down another 100 pips before starting move up.
Obviously my tactics would not be very good because I would have either
1) missed the entire trade if I placed order at k-support (1.2740) or
2) be nervous the whole time because market would eventually drop another 100 pips.
Looking forward to your reply, Sive.
I sincerely hope you and your family have a great weekend.
Take care, my friend.