opm8, Attached is a 2 min. chart same as my previous post but, it has the addition of the Fib. retracement. The pattern completed at 1071.50 and the high day was 1072.00. My next post will have the 30 min. chart showing support at the .786. It just so happened on this set up that the smaller time frame pattern proved to be more indicative of the day's action. Please let me know if this is not a clear enough illustration. thanks, al c.
nkhoi, All of these patterns are detected manually. Though software does exist to detect them, software cannot possibly learn to allow for the many variables which may exist in any given pattern or set of patterns. And, more importantly, software will probably never be able to properly deal with the confluence of these patterns and key Fibs. thanks, al c.
The anticipated pullback is underway... I believe this has the potential to turn into a resumption of the uptrend or a lower top that would set up the market as a good short. Waiting and watching... Maverick
Wow! One after another today. I especially love this morning's butterfly. Got 5 points out of that one. Too bad I wasn't awake all night to take the other two trades. Anyone else see these in time to catch them? --opm8 Just noticed this: the first leg of the blue Gartley (X-A) is made up of the AB and CD legs of yet another Gartley started in the prior wave.
Hey Guys, Just out of interest, do the second & third patterns that opm posted qualify as butterflies?? Thanks.
Thanks for all the posts and private messages. I am sorry that I have been slow in responding. I've been hard at work completing my new book which thank God is has been published. I am now able to promptly answer all posts. thanks, Al C.