you know what might be good ? a fibonnaci cluster tool

basically this tool calculates retracements and expansions from recent highs and lows and marks on the screen where they are

perhaps just small dots on the right side next to price. whever lots of dots are together would mean strong areas of support/resistance.

this could be done based on zigzag or based on fxsystemtraders SAR method

Hey everybody, did anyone catch this bearish butterfly at GBP/USD?
Regards
Alfredo

Attached Images

mariposa 2.JPG (68.3 KB, 355 views)

it doesnt have the retracement values for a butterfly

it is however, a wolfe wave.

update on recent setups

EURUSD -> +40 pips
AUDUSD -> +80 pips
EURJPY -> -4 pips


no hindsight or after the fact trades

closing 1/2 position here on EURUSD and AUDUSD,
move stop to BE on other 1/2

ziko,i got a bullish pattern for H4 euro, i am not sure about it,i am using harmonic 06 indicators.

Yan, I didn't see any buliish patterns on EURUSD

update

1/2 EURUSD position was closed at BE, first 1/2 was closed yesterday for +40 pips
1/2 AUDUSD position was closed yesterday for +80 pips, other 1/2 still open

EURJPY currently +65 pips, closing 1/2 position, moving stop to BE on other 1/2

this might be pointless because of FOMC, but here is a bearish pattern on my indicator

Attached Images

usdcad.gif (13.4 KB, 280 views)

2nd half of EURJPY position closed at BE
2nd half of AUDUSD position still open

we have future bullish pattern on EURJPY H4, we will trade the CD leg down,
entry/stop/targets on chart

Attached Images

MyScreenHunter.jpg (83.4 KB, 313 views)

update

1/2 position AUDUSD still open, BE stop wasn't hit
EURJPY setup didn't trigger, we had a low of 151.08