![MQL5 - Language of trade strategies built-in the MetaTrader 5 client terminal](https://c.mql5.com/i/registerlandings/logo-2.png)
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
double post... no option to delete this one![](https://c.mql5.com/forextsd/smiles/smile.png)
It is very odd but it worked out anyhow. As for the "fakeout" method (I don't know how I should call it), check out the pics below. ZUP detected a butterfly pattern but ratios of the pattern is not correct for normal butterfly. The method is draw fibo B to A and move it on BC leg, is it correct?
I don't know how to call it either, maybe fibonacci harmonic?
but you have got the point, and btw, that's correct ratios for harmonic pattern, call it whatever you like, but you have AB=CD symmetry(ab=cd,ab=1.272cd, ab=161.8cd, ab=200cd,ab=2.618cd,ab=3.618cd...)
in that case, 127.2 convergence with 161.8
although I would got filled and didn't got into that trade(I take the higher fibonacci of the convergence and put my entry there, because most of the time when you see this convergence you see price touch the first fibonacci level and than like magnet going for the second fibo level and then drop.
you can use the fibonacci EXPANSION tool in your MT4 toolbox and drop it from A to B and then to C.
another bullish 222 gartley(bat pattern actually) on EURJPY 15m
I don't know how to call it either, maybe fibonacci harmonic?but you have got the point, and btw, that's correct ratios for harmonic pattern, call it whatever you like, but you have AB=CD symmetry(ab=cd,ab=1.272cd, ab=161.8cd, ab=200cd,ab=2.618cd,ab=3.618cd...)in that case, 127.2 convergence with 161.8although I would got filled and didn't got into that trade(I take the higher fibonacci of the convergence and put my entry there, because most of the time when you see this convergence you see price touch the first fibonacci level and than like magnet going for the second fibo level and then drop.
Hmm maybe Fibonacci convergence?The one on EURUSD, what prompted you to take the XA instead of the XA in the pic below? The one on EURJPY, why not to take 78.6 and 127.2 instead of 88.6 and 161.8? Because there's smaller gap inbetween 88.6 and 161.8?
double post... no option to delete this one
I know that. I think it's a good idea to allow users to delete their posts :/
hmm forum seems to be buggy today
anyway, I took the closest convergence because that's the strongest area for the pattern to find support,
and that's the area where people look to be buyers,
and usually if you look left you'll see support/resistance zone whenever you'll have excellent convergence(below 2 pips difference), without even looking left(I checked it, pretty amazing)
the forum don't let me post that trading rules, I think I send you a link in private.
this is a pattern I posted 2 hours ago approx.
look at how it reacted to the 88.6% convergence with 200% despite good US data, still I went long,
I am break-even on that trade already, so either it'll hit profit or SL I don't care, but that's how patterns looks like when they react to those convergence levels, price try to break through and just repelled to the other side
hmm forum seems to be buggy todayanyway, I took the closest convergence because that's the strongest area for the pattern to find support,and that's the area where people look to be buyers,and usually if you look left you'll see support/resistance zone whenever you'll have excellent convergence(below 2 pips difference), without even looking left(I checked it, pretty amazing)the forum don't let me post that trading rules, I think I send you a link in private.
Okay now I understand FC pattern (Fibonacci Convergence. Simple eh? lol). I'll practice the pattern more. Yes you sent me a link. Thanks again irad. FC works great actually. The one on EURUSD worked out great. Closed position due to the bearish 5-0 whose PRZ is previous support which is not resistance. There was a ZUP bullish deep crab on USDJPY (Today is a day for Yen pairs I follow) and I applied FC on the pattern. 161.8 XA and 127.2 AB on C sat very close and price went up and reached my target.
I think we have two potential patterns on NZDUSD M15. Bearish normal gartley and bearish FC pattern. I'll keep an eye on it and also see what pattern ZUP will detect.
Nice! I took that USDJPY trade also
everything become much more simpler when you have a solid plan and rules with those tools..
my target on the EURUSD is the 50% of AD so bearish 5-0 bite me ;-)
(Order filled I am out of forex for the day)
See ya tomorrow
Nice! I took that USDJPY trade alsoeverything become much more simpler when you have a solid plan and rules with those tools..my target on the EURUSD is the 50% of AD so bearish 5-0 bite me ;-)(Order filled I am out of forex for the day)See ya tomorrow
I totally agree with you. Everything has become much simpler for me too. I think I've grabbed enough pips today so i'm out too even though there are many chances that tempt me to trade but no reason to be too greedy. I'll just analyze the market. See you tomorrow irad.