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Ah... ok, I was looking at the same pattern but started the XA leg a bit later
, your's works out much better.
Jack
David J wrote:
> Jack
>
> I believe I have a different butterfly construction then you are using.
> Here is a chart I posted to Ispec yesterday:
>
> http://www.intelligentspeculator.com/pub/COHRbullbutterfly110200.gif
>
> I try to get the formation to work on weekly scale, especially when the
> target for the buy is a large point gainer (In this case I have target of
> low 60s to 70... .618 to .786 retrace of CD)
>
> I had a revalation with these formations a few months back when Pesavento
> had his free trial going. In his books he is very strict on the formation
> meeting time and fib criteria. In reality he trades many times with just
> the basic formation in place. Giving some room for the stocks to work
> around the target area.
>
> I still think Carney's book is better but Pesavento's trading style was
> certainly more "natural"
>
> Also, on the chart linked... the .786 retrace from the high to A is just to
> note where COHR generally retraces too.
>
> The daily bars on COHR put in a small hammer followed by a bar with higher
> low followed by an inside bar. Was a fairly simple entry with a stop above
> that sets high but I did not find COHR til yesterday and totally blew the
> gap fill entry today. I hate it when that happens.
>
> QLGC is a bear gartley which worked its way into sell zone today.
>
> http://www.intelligentspeculator.com/pub/qlgcbeargart103100.gif
>
> chart was from yesterday also... does not include all of yesterday's trades
> or any of todays.
>
> Also would be tracking MEDX for a short entry if I were following market
> over next two weeks. It is at .618 of XA (X happens to be all time high)
> and it has a few ABCDs which complete in this area. 4.7.00 A, 7.14.00 B,
> 8.4.00 C, ? D and 8.4.00 A, 9.1.00 B, 10.13.00 C, ? D
>
> David
>
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