5 point pattern trading

[phillyflipper]

Quote from BigBubba:

pattern nailed the run up on es today. i captured only a few points, due to my incompetence. but that pattern was a nice 1.

BB, good catch on that Gartley pattern, my software did not catch it but a Gartley just the same. Your stop is 1562 (point X) and you are looking for this to take out 1577.50 which it did this morning and is now trading at 1583.00 area
The Gartley is a powerful pattern

 

[Trader1618]

This can be done with Scott Carney's Harmonic Analyzer software:

www.harmonicanalyzer.com

I am not advertising it here, and I get zero if you buy it. I just wanted to answer the question.

Quote from arco:

Phillyflipper

Do you have a program that picks up the 5 point patterns automatically on a daily scan?

rgds - arco

 

[phillyflipper]

XLF financial spydr ETF bullish "bat" pattern . Stop needs to be below point X at 34.00 so risk is clearly defined. Good way to play financials. This is based on the pattern NOT fundamentals.

 

[phillyflipper]

RWX Wilshire Intl real estate ETF. If anyone trades this we have a Bearish Gartley pattern. I will call this a Gartley while others may not because XAD exceeds .786 retracement. XAD on a more perfect Gartley will not exceed .786. Stop needs to be above point X (68.00 or whatever you decide)

 

[phillyflipper]

MXI Global Materials ETF 60 minute . We have a bearish butterfly pattern. Stop needs to be above point D

 

[phillyflipper]

CLP Colonial properties Bearish Gartley pattern. Looks like real estate still in for some downside/ Stop should be around 40.00

 

[phillyflipper]

DNA Genentech. I came across this Elliott wave simple zig zag bullish correction. If you wanted to try a long position use 70.00 area for your stop and see if we can take out the 100.00 area. This is a weekly so this can take some time.

 

[phillyflipper]

Quote from phillyflipper:

XLF financial spydr ETF bullish "bat" pattern . Stop needs to be below point X at 34.00 so risk is clearly defined. Good way to play financials. This is based on the pattern NOT fundamentals.

I just took a position XLF at 34.23 (below point D) because point X was not violated "yet". this is not recommended by most who use these patterns. I am using a tight stop 33.50

 

[phillyflipper]

Quote from phillyflipper:

DNA Genentech. I came across this Elliott wave simple zig zag bullish correction. If you wanted to try a long position use 70.00 area for your stop and see if we can take out the 100.00 area. This is a weekly so this can take some time.

Bought DNA 74.85 on pullback after the move off of the 1.27 retracement. Defensive play against economy and high oil. Got to put money somewhere.

 

[phillyflipper]

ETFC E TRADE FINANCIAL. BULLISH BUTTERFLY PATTERN.

Stop needs to be below point D. Risk is clear