X-Account-Key: account3 X-UIDL: 1222145460.000 X-Mozilla-Status: 0011 X-Mozilla-Status2: 00000000 X-Mozilla-Keys: Received: from n40b.bullet.mail.sp1.yahoo.com by genie.lightpatch.com id aa03439; 22 Sep 2008 21:41 PDT Comment: DomainKeys? See http://antispam.yahoo.com/domainkeys DomainKey-Signature: a=rsa-sha1; q=dns; c=nofws; s=lima; d=yahoogroups.com; b=o1jeiLdB9RDD0zw6gdHlGEDmB4ylh/NDFnJBup6Ql1ksSNXCvEWNl72Mzony3QeNqKswKZLPxmaFGyvvYZgQ259avdhMjR9hx6HL9e0pJ/KyUFP8VywqCxPL8VodIxT0; Received: from [69.147.65.171] by n40.bullet.mail.sp1.yahoo.com with NNFMP; 23 Sep 2008 04:40:55 -0000 Received: from [66.218.69.6] by t13.bullet.mail.sp1.yahoo.com with NNFMP; 23 Sep 2008 04:40:55 -0000 Received: from [66.218.67.114] by t6.bullet.scd.yahoo.com with NNFMP; 23 Sep 2008 04:40:55 -0000 X-Yahoo-Newman-Id: 12111071-m85599 X-Sender: seenijg@gmail.com X-Apparently-To: MetaTrader_Experts_and_Indicators@yahoogroups.com X-Received: (qmail 37327 invoked from network); 23 Sep 2008 04:40:51 -0000 X-Received: from unknown (66.218.67.97) by m46.grp.scd.yahoo.com with QMQP; 23 Sep 2008 04:40:51 -0000 X-Received: from unknown (HELO yw-out-2324.google.com) (74.125.46.30) by mta18.grp.scd.yahoo.com with SMTP; 23 Sep 2008 04:40:50 -0000 X-Received: by yw-out-2324.google.com with SMTP id 5so291379ywh.69 for ; Mon, 22 Sep 2008 21:40:50 -0700 (PDT) X-Received: by 10.151.45.2 with SMTP id x2mr8508780ybj.34.1222144850386; Mon, 22 Sep 2008 21:40:50 -0700 (PDT) X-Received: by 10.151.115.21 with HTTP; Mon, 22 Sep 2008 21:40:50 -0700 (PDT) Message-ID: <603f8f3c0809222140t297af8d9u4512363deedaffdf@mail.gmail.com> To: MetaTrader_Experts_and_Indicators@yahoogroups.com In-Reply-To: <000001c91c02$62ef44d0$28cdce70$@rr.com> References: <000001c91c02$62ef44d0$28cdce70$@rr.com> X-Originating-IP: 74.125.46.30 X-eGroups-Msg-Info: 1:12:0:0:0 From: Seeni J G X-Yahoo-Profile: seenijg Sender: MetaTrader_Experts_and_Indicators@yahoogroups.com MIME-Version: 1.0 Mailing-List: list MetaTrader_Experts_and_Indicators@yahoogroups.com; contact MetaTrader_Experts_and_Indicators-owner@yahoogroups.com Delivered-To: mailing list MetaTrader_Experts_and_Indicators@yahoogroups.com List-Id: Precedence: bulk List-Unsubscribe: Date: Tue, 23 Sep 2008 12:40:50 +0800 Subject: Re: [MT_E and I] USD/CAD, 9/20/08, 1, 4 HOUR AND DAILY charts Reply-To: MetaTrader_Experts_and_Indicators@yahoogroups.com X-Yahoo-Newman-Property: groups-email-ff-m Content-Type: multipart/alternative; boundary="----=_Part_35822_8053636.1222144850366" X-Antivirus: AVG for E-mail 8.0.169 [270.7.0/1684] ------=_Part_35822_8053636.1222144850366 Content-Type: text/plain; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit Content-Disposition: inline Hi Loren, Firstly, many thanks for sharing your insights with such detailed technical analysis. The amount of effort to dissect these charts first and then to share it without any reservations to the general public is much appreciated. I have been studying and applying different strategies to trade the gartley patterns since the last few weeks. Your analysis has been really intriguing and though you have mentioned that no one actually cares about it, it is probably because, at least speaking for myself, i have been studying more of what it actually means rather than wanting to comment on it! So, long story short, i have done enough work(i believe) and have started demo trading with this analysis since the start of this week. I took 2 currencies which formed the pattern. USD/CAD by your paper and the USD/CHF. I had tight swing stop losses on USD/CAD but like you had mentioned, both long term(daily) and mid term(4h) patterns were conflicting. I therefore got stopped out on both trades that i went. One which i went short first and the market went long during Lon market yday. Then when i had assumed the market was going long with the mid term bullish pattern evident and went long, market reversed during US session and took out my stop loss at 1.0463 level with the market having since moved about 130 pips to its current price level at 1.0330. In summary, i couldn't enjoy this movement but contemplating another entry should the 50% fib level see through. Do you think this is advisable? On the other trade i took, i recognised a very long term bearish pattern appearing with the USD/CHF. It was forming since end last year and it just completed the bearish butterfly almost a week ago and u/c has been taking some time to break down. With good momentum picking up after confirmation with fib levels and long term MAs, It finally started trickling down and i took a short(1.0954) during yday's US session. I am now sitting on 180 odd pips profit. Would you be able to confirm this pattern and eventhough i have locked in nice profits to allow for some retracement, i would be curious to see where you think this might end up and possibly be a good take profit level? My 50% fib level is at 1.0590 and that seems like a good T/P target for me. However, i am curious to know if the Gartley patterns can project a possible T/P level on this too? Thanks again. Take Care & God bless, Seeni On Sun, Sep 21, 2008 at 11:54 PM, Loren Morlan wrote: > Four charts will be posted, two to this paper and two to the next > paper. > > > > The various versions of the ZUP indicators and price patterns traced are > discussed by Pesavento, Gartley and other authors. The specific detail of > patterns may be studied in their books or at Harmonic Trader.com, and other > internet sites. > > > > DAILY; > > Traces a bearish butterfly in yellow. This pattern started 1/20/08, at > point X not seen on this chart. X to D is 1.618 extension of X to A. > Toping pattern has started at D. Bulls Power buying at lows is decreasing, > however still above its zero line/positive. RSI is below 50 and pointed > down. > > > > Three relevant Fibonacci retracements studies are placed on chart and serve > as potential support levels. The three vertical red lines mark the > beginning of each. Price has most recently tested fractal low at 1.0410 > noted on chart at 38.2 magenta line. AB was 23 bars, 624 pips. CD leg was > an extended 81 bars, 1009 pips. In the daily period this pattern suggests > price may retest any of the lows or an extension lower. > > > > 4 HOUR; > > Traces a Bullish Bat in yellow. The various parameters of the pattern are > circled in red. CD leg was extended compared to AB leg. RSI, a different > indicator traces a RPD between X and D lows which agrees with the ZUP price > pattern. There is concurrence of dissimilar indicators with respect to > future price action. This pair has been in an uptrend since 11/4/07, and > the RPD offers an opportunity to joint an existing trend. The latest Bulls > Power bar is approximately three times the size of the previous bar and > suggests bulls buying the lows of this bar. > > > > This bullish pattern conflicts with the bearish daily pattern. The longer > term bearish pattern is probably controlling. The 4 hour indicators > suggests price will retrace from D. Fibonacci levels are present. > > > > Two additional charts are attached to the next paper. > > > > Loren > > -- Take Care & God Bless, Seeni J G ------=_Part_35822_8053636.1222144850366 Content-Type: text/html; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit

Hi Loren,

Firstly, many thanks for sharing your insights with such detailed technical analysis. The amount of effort to dissect these charts first and then to share it without any reservations to the general public is much appreciated.

I have been studying and applying different strategies to trade the gartley patterns since the last few weeks. Your analysis has been really intriguing and though you have mentioned that no one actually cares about it, it is probably because, at least speaking for myself, i have been studying more of what it actually means rather than wanting to comment on it! So, long story short, i have done enough work(i believe) and have started demo trading with this analysis since the start of this week.

I took 2 currencies which formed the pattern. USD/CAD by your paper and the USD/CHF.

I had tight swing stop losses on USD/CAD but like you had mentioned, both long term(daily) and mid term(4h) patterns were conflicting. I therefore got stopped out on both trades that i went. One which i went short first and the market went long during Lon market yday. Then when i had assumed the market was going long with the mid term bullish pattern evident and went long, market reversed during US session and took out my stop loss at 1.0463 level with the market having since moved about 130 pips to its current price level at 1.0330. In summary, i couldn't enjoy this movement but contemplating another entry should the 50% fib level see through. Do you think this is advisable?

On the other trade i took, i recognised a very long term bearish pattern appearing with the USD/CHF. It was forming since end last year and it just completed the bearish butterfly almost a week ago and u/c has been taking some time to break down. With good momentum picking up after confirmation with fib levels and long term MAs, It finally started trickling down and i took a short(1.0954) during yday's US session. I am now sitting on 180 odd pips profit. Would you be able to confirm this pattern and eventhough i have locked in nice profits to allow for some retracement, i would be curious to see where you think this might end up and possibly be a good take profit level? My 50% fib level is at 1.0590 and that seems like a good T/P target for me. However, i am curious to know if the Gartley patterns can project a possible T/P level on this too?

Thanks again.

Take Care & God bless,
Seeni


On Sun, Sep 21, 2008 at 11:54 PM, Loren Morlan <gmorlan@tampabay.rr.com> wrote:

Four charts will be posted, two to this paper and two to the next paper.

 

The various versions of the ZUP indicators and price patterns traced are discussed by Pesavento, Gartley and other authors.  The specific detail of patterns may be studied in their books or at  Harmonic Trader.com, and other internet sites.

 

DAILY;

Traces a bearish butterfly in yellow.  This pattern started 1/20/08, at point X not seen on this chart.  X to D is 1.618 extension of X to A.   Toping pattern has started at D.  Bulls Power buying at lows is decreasing, however still above its zero line/positive.  RSI is below 50 and pointed down.

 

Three relevant Fibonacci retracements studies are placed on chart and serve as potential support levels.  The three vertical red lines mark the beginning of each.  Price has most recently tested fractal low at 1.0410 noted on chart at 38.2 magenta line.  AB was 23 bars, 624 pips. CD leg was an extended  81 bars, 1009 pips.  In the daily period this pattern suggests price may retest any of the lows or an extension lower.

 

4 HOUR;

Traces a Bullish Bat in yellow.  The various parameters of the pattern are circled in red.  CD leg was  extended compared to AB leg.   RSI, a different indicator traces a RPD between X and D lows which agrees with the ZUP price pattern.  There is concurrence of dissimilar indicators with respect to future price action.   This pair has been in an uptrend since 11/4/07, and the RPD offers an opportunity to joint an existing trend.   The latest Bulls Power bar is approximately three times the size of the previous bar and suggests bulls buying the lows of this bar.

 

This bullish pattern conflicts with the bearish daily pattern.  The longer term bearish pattern is probably controlling.  The 4 hour indicators suggests price will retrace from D.  Fibonacci levels are present. 

 

Two additional charts are attached to the next paper.

 

Loren




--
Take Care & God Bless,
Seeni J G

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