najibmulik
Long

Bullish Gartley in Making

FX:GBPJPY   British Pound / Japanese Yen
40 4 1
This is a perfect example of Bullish Butterfly Pattern, D is coming on bot,h upward and downward, trends....
Forgive me in advance for the impertinent sound of this question,
but, if this is a perfect butterfly
should not Pt D be at the 1.272 of A to X which is the "norm
or standard" for butterflies ?
This would also place the bottom closer to the blue descending trend line
and the 1.618 fib ext of A to B thus a butterfly with the best harmonics/symmetry.
Thanks for your thoughts !!!!!!
Reply
najibmulik dojitrader
Thanks for your comments. Yes, you are right BUT this is much closer to perfect as there is little diff between 1.272 and 1.161...
Reply
dojitrader najibmulik
I see what you're saying. I guess it's the musician in me that
requires precise placement of various points and details.
Also the desire for the least possible risk to know if my ideas are wrong.
So, for me, a quick calculation shows about a 30 pip difference which in my
trading is unnecessary risk. Thus, for me as a musician, to agree there is little difference is like
saying there is little difference between an A and an A flat.
Hoping you find great success !!!!!!
Reply
najibmulik dojitrader
Nice to see a Musician... Thanks for wishing me success....
Reply
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