Just purchased HWCC 18.52 based on pullback near point D 18.00. Bullish butterfly pattern
5 point pattern trading
- Thread starter phillyflipper
- Start date
ARJ Arch Chemical update...Bearish butterfly back in control. We are below point D. Important to see where we close. this can move to the downside in a big way. I am not involved with this stock at all, just using it in real time to demonstrate these patterns and what to watch surrounding these key areas
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.
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
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.
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
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