ARJ Arch Chemical update...Bearish butterfly back in control. We are below point D. Important to see where we close. this can move to the downside in a big way. I am not involved with this stock at all, just using it in real time to demonstrate these patterns and what to watch surrounding these key areas
philly, at what point would you consider the pattern invalid? (sorry if it's already mentioned in previous post)
here's the bullish from earlier today. worked fine..( you could easily still be in this 1) but now, a bearish about to trigger..so we'll see.
yes.. i use 24h charts. that 1 was 1800v thanks! (the signal is in progress then) *well, technically, it was invalidated..had a tail pop up past the x-point
BB, on your ES chart the larger bullish blue outlined Gartley is the stronger pattern and the red area is an AB =CD pattern short but in this case to me it looks like a smaller set of waves inside the larger wave and the larger wave is the stronger wave.
I stopped trading overnight becasue it can drift up overnight, stop you out, and then by the time our markets open the pattern falls right back in line with where we left off (in alot of cases). It was a tough lesson for me.
Phillyflipper I enjoyed looking thru the thread. There are some good posts to ponder. I wonder if you wouldn't mind clarifying your timeframe for spotting the patterns. In other words, how far out in time are you aware of where point D is going to fall? Or, are you waiting for point D to develope and then describing the pattern? Timing being the critical element for making the decision to ante up or not. In real time, how prepared for point D are you? thanks