Harmonic Analysis - page 181
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GBPUSD renko - Potential bearish cypher. FYI the red pattern is a deep crab.
EURJPY - A bearish cypher is now invalid. I had some pips in profit but I didn't close my positions and lost. Same thing happened on CHFJPY too. Disappointing but this is what happens. Now EURJPY may still keep going up and complete a bearish deep crab on daily chart. PRZ is confluence with previous resistance level. When the pair pulls back to previous resistance, that may be support now so it might be a chance for me to take some losses back.
EURUSD 4h - Potential bearish butterfly. I think that if price breaks X of the butterfly and candle closes above it, it may be likely to keep going up. WR3 and MP are key levels to watch.
EURGBP 30m - Potential bullish cypher.
I just took a beaish bat on EURAUD. Look at pics below. The bat pattern on the renko chart had a better entry. It's very interesting, isn't it?
Ok, I am done reading about Gartley, I have read so much I feel like I knew the man
I now want to study all about the Butterfly, other than Larry and Scott's books, can anyone recommend a good read on this pattern?
Also, RyuShin, what made you choose renko over range? I have been trying different range indicators but cannot get them to work for some reason, need to keep searching
EURJPY renko - Potential bullish bat.
RyuShin, what made you choose renko over range? I have been trying different range indicators but cannot get them to work for some reason, need to keep searching
I chose renko over range because I've never been able to set range bar chart on Metatrader 4. I tried but I couldn't. I preferred range bar chart cuz some harmonic traders employ it. All I wanted was "tick" chart and since renko uses ticks like range bar chart (from what I understand), it's all fine. It's been working how I expected since this Monday so I'll keep sticking to renko. You can easily set up range bar chart on Ninjatrader.
I chose renko over range because I've never been able to set range bar chart on Metatrader 4. I tried but I couldn't. I preferred range bar chart cuz some harmonic traders employ it. All I wanted was "tick" chart and since renko uses ticks like range bar chart (from what I understand), it's all fine. It's been working how I expected since this Monday so I'll keep sticking to renko. You can easily set up range bar chart on Ninjatrader.
Yes I know Ninjatrader is easy to do, I am on MT4 and have the same problem you did. Will play around with it a little more and see what I can do. Thanks
USDCAD 1h - Potential bullish bat and bearish gartley afterwards. 61.8-88.6 AB retracement of the gartley is key level, which means the bat may not complete and price may reverse after reaching 61.8 AB retracement of the gartley as agg C. Or else price may keep dropping. We'll see.