5 point pattern trading

Excellent information.................

Thank you very much for the thread.


More charts please :>)

 

At the proding of 322170, here is a chart. I have been busy with personal matters and my own market studies. The large pattern on this ES Chart is a bullish butterfly on the Daily chart and now we seem to be developing into a bullish Bat pattern (Scott Carney) which can take us down to the .886 fib retracement 1272 area. If 1272 holds we can move up from there.

 

The second smaller developing pattern I said looks like a BAT pattern can also be a bullish Gartley pattern which can terminate at the .786 retracement (1286.50). I point this out because the
second swing down on smaller pattern (B) terminated right on the .618 retracement which is classic for the Gartley pattern

 

Hi,
This pattern is most reliable pattern I found! Also most happening in today’s trading system. Very elaborately explained by Mr Gartley in this book Profits in the stock market in the year 1930. This works in all market in all time frame. For more information pl. log on to http://www.harmonictrader.com/price_patterns.htm

There are some software developed for scaning for these pattern and also ready to use software tools too. I am looking for any such software which support for these patterns. if any one knows about this will be a great helpful.

looking forward on this matter.

 

The website you mentioned has the software to scan for the patterns
http://harmonicanalyzer.com/

 

http://www.harmonictrader.com/price_patterns.htm

How is the product?

 

I believe they offer a free trial. They did when I tried it. It is great in identifying the patterns but it had to be refreshed constantly.
They said they were making improvements. It also uses alot of resources which they were working on also, but get a free trial and see if you like it I tried it about a year ago

 

We are at a very critical area here. If point D 1255 area fails then the markets will go substantially lower. These patterns work both ways. When they hold they gain big and when they fail it signals a move in the opposite direction, but you want to wait for the failure and try to get short on a test of that area

 

may get a bounce off the double bottom 1255 area. It must hold.
If it offers little or no resistance then that is very negative and very good for the shorts and very bad for all who have 401 k's

 

we have a Bullish Gartley pattern in GLD. this pattern is strong and we can take out the previous high of GLD. we may get resistance at point C but if we blow thru C then we can challenge the prevoius high. Some will take profits at C. Taking out D is not good for the long side....as usual, be careful...use stops