Friday, March 5, 2010

Gbp-Usd, DailyChart - is it real ? ;)



Autor: Abel o 11:53 PM

2 komentarze:

Filipe Miguel said...

Nice picture. I can't find this pattern in my chart :(. Do you now why? Regards.

March 9, 2010 at 12:07 AM
Abel said...

Hello Filipe,

It can sometimes differ between the MT4 brokers does pattern shows up or not, only 1 or 2 pip error is enough to determine is pattern shown or not.

When I do run 2 different MT4 account myself, specially with smaller timeframes pattern do differs between them all the time and this is very much as tick issue. It is impossible to say that one specific MT4 broker is not showing correct price or one is better than another.

Between harmony traders everyone see patterns others do not and vica verca all the time (specially those smaller timeframes).

It is standard gartley as major pattern what is in the chart, but I do think it is real, a little bit hard times to believe UK could offer W2 position for this place.

However, when looking this patter from EW perspective I think if one want to take only safety steps with gartley should skip this one, this right side triangle should be ABC and it that´s what its not the case in here. This looks more impulse method, ideal gartley should have very simple ABC correction only. Nothing impulsve like this one.

Not anything this complex where "third" wave starts to look alike impulse wave. Even it would work one is in danger water, stats with this deep wave strucure with it is weak.

I had just modifed all colors, it is standard gartley because I need to see chart itself all the time what it has been doing, those too clear colors hides it from me.

Nothing other method is not as exact as elliott wave Filipe with precise math it does have. Allways pay attention what price has been doind inside of those coloured triangles before doing decision can pattern be correct ot not at all. Harmony is much more cosmetic approach for market.

March 9, 2010 at 2:53 AM

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