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isomorph
if you are making money using this kind of hogwash, please let me know.
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mc.blaze2
isomorph
Well if the pattern does complete i will make the same amount of money on this as i would on a 200 pip pattern i trade the same amount per trade not per pip
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isomorph
mc.blaze2
because as you can see in the chart above, most bat/crab/butterfly and so on are not statistically very accurate in the SPOT FX market; i'll even dare say a lot of it is coincidental, and that's not a very good probabilistic approach in my book. i used to use them and stopped to develop my own studies and approach that work way better. that is to say, when a butterfly pattern is invalidated, my approach allows me to already be in the trade in the right direction. so i don't need to worry about these patterns and that is why i call it 'hogwash'.
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ThomasJeff_DCM
isomorph
Why do you call these trading methods hogwash? could you explain your experince?
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kate25
PRO
price is in demand right now - to be seen if this area will hold
- I think your chart was a good effort - no trader has the right to say any different
+2
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isomorph
kate25
pretty much sums it all up. great chart.
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isomorph
kate25
pretty much sums it all up. great chart.
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kate25
PRO
isomorph
Hey Isomorph - curious about your method - are you able to post a chart of pound to look it
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kate25
PRO
I think there is a small demand area just above the larger which will be in play
Blaze do you have any more charts for the pound
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mc.blaze2
sorry Kate i dont im just waiting for a bat completion on the 4hr usdchf
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ThomasJeff_DCM
mc.blaze2
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ThomasJeff_DCM
ThomasJeff_DCM
Bat pattern about to complete on H4 and a Cypher down lower.
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mc.blaze2
ThomasJeff_DCM
ill keep my eyes on the bat ... ty
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ThomasJeff_DCM
mc.blaze2
Please do, because many people posts bats that are not valid. The C retracement can not retrace so high so that it touch the 0.886 retracement. Many people on here post then where its almost is just a double top =D
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mc.blaze2
ThomasJeff_DCM
The C retracement is valid as long as it doesnt pass the A leg sir
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ThomasJeff_DCM
mc.blaze2
I´m afraid i disagree with you, but if your trading with these levels is giving you a profitable outcome i see no need to why not
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mc.blaze2
ThomasJeff_DCM
I only trade the way i learnt in a course with professional traders ... The B to C move Once our (AB) we can now look for a valid (C) leg . The market creates a Valid (C) leg by completing at leaste a 38.2 retracement of the A to B leg .The leg is considered valid as long as price action does not move beyond the (A) leg ...
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ThomasJeff_DCM
mc.blaze2
If its giving a profitable outcome its great, i´m actually interested in the completion rate of target 1 with these ratios. My rules or not mine but the one i learned and find in different books to be the "perfect" pattern is that it must touch the 0.618 and it can come past the 0.786 but not touch the 0.886 - If your C retracement is so high your entry level will be high too, or do you just enter on an 0.886 from X - A?
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mc.blaze2
ThomasJeff_DCM
yes i enter 886 x to a
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ThomasJeff_DCM
mc.blaze2
Well in that case i can see that you will find a lot of valid patterns because the range of the ratios is not as tight as mine. Maybe i will try backtest it and see the outcome on a few pairs
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mc.blaze2
ThomasJeff_DCM
i think it will be around the 55 to 60 % mark .. Do let me know how you go on and good luck in whichever way you trade them buddy :)
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kate25
PRO
ThomasJeff_DCM
nice chart
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kate25
PRO
Hand circled demand area to left of price was hit - still bearish until price can start breaking supply going up 
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kate25
PRO
kate25
I would be looking for price to cross back above pivot low and target the top green supply box - that is the origin of this initial leg down. The demand area is roughly 33 pips deep and the target is to the first green zone bottom 150 pips and the second green supply 340 pips - I like the risk to reward
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ThomasJeff_DCM
kate25
How exactly is the method behind this, it looks like when there is consolidation you trade these areas, but whats the difference from this to just trade simple Support / Resistance levels? With impulsive corrective legs?
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kate25
PRO
ThomasJeff_DCM
When I first started learning this method I discounted as consolidation - however their is a fair amount to understand or at least to wrap your mind around when using this style - James Powell has the SD page on TV here - several good traders there - they can explain it better then me -
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kate25
PRO
ThomasJeff_DCM
I see you have some published charts out - I started working on one to follow along - let me try again to get one done to follow along - if ok
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ThomasJeff_DCM
kate25
Yes please do, i will start following you i like your charts and would like to understand the supply demand better versus consolidation and impuls legs.
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kate25
PRO
ThomasJeff_DCM
James Powell supply and demand Chat on TV - I will look through your published and see if I can get something together here shortly
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kate25
PRO
ThomasJeff_DCM
I do not publish anymore - you will find my charts attached as comments to other traders - but thank you for following me
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