5 point pattern trading

Quote from BigBubba:

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
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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.
I now take my signals only from day timeframe because there are different people and different psychologies during the US trading day as opposed to overnight psychologies and these patterns are based alot on the psychology of the trade
 
Quote from phillyflipper:

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.
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the L-side of the "W" for the bearish signal is not visible in this case due to the blue lines. thanks for the interpretations.

still watching.. looks like a valid short
bb
 
Quote from rphuga89:

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
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since i am looking for longer term holds personally I am looking at mostly daily weekly and monthly timeframes. I go to a chart and let the study find the patterns based on my Fib ranges for the various swings. And yes you must wait for the pattern to develope to point D because you really dont know what is going to happen until it does and then you know what may happen next . the pattern helps take out noise . In real time you do have time to react once point D is established but i am not day trading the futures right now. A nice russell short did trigger at 10:30 am CST which may have followthrough tomorrow (or not)
 

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just to follow up.. when the ES spiked up (huge move) .. the pattern simply vanished on my chart. obviously, this indicator will take some practice. apparently, it will plot on the last bar as long as it is within parameters.. but will delete itself when price moves outside the pattern. pretty cool.
 
pdli Protein Design labs...Bullish "Bat" pattern triggered after some bad news. I do like the company but they have alot of issues to work out. I would like to see 18.00 area tested and hold before I take a position. Some have taken advantage of the drop in price already. People react differently to the same news.
this is a bullish probability pattern. 18.00 held as support in March so if 18.00 holds all is well but if 18.00 fails it could be bad.
That is about all we can know at the time
 

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Quote from BigBubba:

philly, at what point would you consider the pattern invalid?
(sorry if it's already mentioned in previous post)
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BB, the russell today speaks to your point. The 2 green lines are point X and D. that triggered the BAT pattern yesterday. Today X was NOT taken out yet so bearishness still valid for now.

the patterns help to give absolutes to a very abstract universe.
 

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chs Chicos bullish crab patternon Daily chart has formed on high selling volume.
if you like the clothing industry this could be a good longer term entry point....a break below point D would not be good for the long side.
 

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