There are several interpretations of the Butterfly pattern structure. Unlike the Gartley pattern, the Butterfly pattern offers the possibility to enter long/short at new lows/highs. It’s because wave D of the pattern extends beyond the starting point of wave XA. The Butterfly pattern depends upon the B point as it defines the pattern’s structure and […]
Price Action
Double Bar High Lower Close Pattern – Winning Trade Example In Forex
Today I’m going to show you the Double Bar High Lower Close (DBHLC) pattern in action with a recent trade on USD/CAD daily time-frame. So, take a look at this screenshot of my Metatrader4 platform: So there was a DBHLC pattern recently formed (the red smiley face on the photo). And an interesting part about […]
Gartley Pattern Rules And Trade Examples in Forex
The Gartley pattern is also called the ABCD pattern and is one of the most popular harmonic pattern. We have a five-points set up with the Gartley pattern labeled XABCD which follow specific Fibonacci ratios. The key ratio involved in the Gartley pattern are 38.2%, 61.8%, 78.6% and 100%. Gartley patterns that lead to the double […]
3 Best Price Action Patterns IMHO
Today I’m going to share with you the 3 most effective price action patterns IMHO, and how to properly trade them: Pin Bar – PB. Double Bar Low Higher Close – DBLHC… and Double Bar High Lower Close – DBHLC. Bearish Outside Vertical Bar – BEOV… and Bullish Outside Vertical Bar – BUOVB. Pin Bar […]