We broke point A and A became suport and then proceeded higher. Globex did not offer a pullback opportunity. 1105 area is a key area now for support
5 point pattern trading
- Thread starter phillyflipper
- Start date
I'm strongly curious why you went almost two years in discussing this pattern or posting at EliteTrader.com
Thus, can you explain the absence especially if it was trading related. Also, how did this setup perform for you while you were gone from EliteTrader.com or trading assuming you've been backtesting or monitoring closely this pattern ???
Mark
no good reason why so long between posts. I had some es videos not too long ago.
mark, i do use other methodologies to trade price action, but when i see one of the 5 point patterns i pay attention. there was a bearish Gartley pattern back on 7/27 -7/28 which started at 1118.75. Looks like we may challenge it today.
we have dueling patterns. Both patterns have performed well in their own right. They provide referencce points .
we have a bearish gartley pattern setting up on the 24hr
s&p e-mini. Point D will be 1185 if we get there for a short trade.
The risk is clearly defined by the new high yesterday. If we break above the new high, the trade is broken. Reward can be a break of point A at 1167. Small risk.....big reward.
s&p e-mini. Point D will be 1185 if we get there for a short trade.
The risk is clearly defined by the new high yesterday. If we break above the new high, the trade is broken. Reward can be a break of point A at 1167. Small risk.....big reward.
Short trade entered 1185.00 Stop 1186.50
Hi Phil, I am also interested in those patterns. too bad the Gartley did not work out for you. But it seems like it formed bearish Butterfly in the morning. i did not trade it. think it is interesting. wonder how it would look like tomorrow. the pattern is not perfect, as B retracement is not 78.6% of XA, other than that, I think it looked good.
Good eye traderHG....It did morph into a butterfly but I did not notice it. if we retrace back up to .618 (1188.50) area it can be
attempted short
attempted short