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trading forex using Gartley Patterns

  • #141
  • Jun 23, 2010 12:31am Jun 23, 2010 12:31am
Hi,

There is a 1hrly USDCAD bearish gartley, enter short @1.0290; SL 1.0330; P1 @1.0240; P2 @1.0190. It is also a 4hrly bearish gartley.

Regards,
Toyogo
Attached Image
  • #142
  • Edited 1:10am Jun 23, 2010 12:55am | Edited 1:10am
Quoting toyogo00
Hi,

There is a 1hrly USDCAD bearish gartley, enter short @1.0290; SL 1.0330; P1 @1.0240; P2 @1.0190. It is also a 4hrly bearish gartley.

Regards,
Toyogo
I was just about to post the same ones Toyogo!

my s/l's are much tighter as i've seen some candles that confirm entry (plus i'm cheap) but your's are definitely correct



now just to weather the early european open...

good luck my friend


and my stops have now both been done....maybe better levels to get set with better candle confirmation later today
Catching a falling knife, no, I'm just trading the Gartley!
  • #143
  • Jun 23, 2010 12:59am Jun 23, 2010 12:59am
interesting, my korharmonics indie didn't get that. i got that audusd pattern tho


Quoting toyogo00
Hi,

There is a 1hrly USDCAD bearish gartley, enter short @1.0290; SL 1.0330; P1 @1.0240; P2 @1.0190. It is also a 4hrly bearish gartley.

Regards,
Toyogo
  • #144
  • Jun 23, 2010 1:15am Jun 23, 2010 1:15am
Quoting reynante
interesting, my korharmonics indie didn't get that. i got that audusd pattern tho
both come through on zup....so i use both, zup & Kor, but on in different profiles to reduce the pressure on my laptops resources...it's interesting what they do and do not see sometimes...
Catching a falling knife, no, I'm just trading the Gartley!
  • #145
  • Jun 23, 2010 1:34am Jun 23, 2010 1:34am
Quoting ChinaWombat
both come through on zup....so i use both, zup & Kor, but on in different profiles to reduce the pressure on my laptops resources...it's interesting what they do and do not see sometimes...
Hi,

I used to use both but now I only concentrate on ZUP as it may cause more confusing signal.

Both nearly hit my SL!!!!http://cdn.forexfactory.com/images/icons/icon6.gifhttp://cdn.forexfactory.com/images/icons/icon6.gifhttp://cdn.forexfactory.com/images/icons/icon6.gif

Regards,
Toyogo
  • #146
  • Jun 23, 2010 1:41am Jun 23, 2010 1:41am
much higher probability of confirmation now with the nice pin bar in the 30m AU

toyogo..show's your s/l were in the perfect place then!http://cdn.forexfactory.com/images/icons/icon10.gif
Attached Image (click to enlarge)
Click to Enlarge Name: au bull-bat 30m.gif Size: 39 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #147
  • Jun 23, 2010 2:04am Jun 23, 2010 2:04am
has anyone made some statistics on which is more accurate on the patterns between zup and kor? some people swear by kor... would be interesting to see the comparison. i guess i should run them side by side... just not enough screen space
  • #148
  • Jun 23, 2010 2:13am Jun 23, 2010 2:13am
Quoting reynante
has anyone made some statistics on which is more accurate on the patterns between zup and kor? some people swear by kor... would be interesting to see the comparison. i guess i should run them side by side... just not enough screen space
I've no stats but from experience ZUP seems to generate lots more signals than KOR. I would say the majority of my successful trades are from ZUP (probably directly related to it generating more). For both I make sure the calc's are close to Scott Carney's preferred ratio's, and then wait for a candle confirmation, unless there is a major support/resistance around and I may place a trade naked.

For me they are a tool to help visual opportunities that you may miss if you have a bias to a particular currency. ie if you're bearish EUR, you would not be looking for counter trades manually, but for excuse to keep short, or new selling. I find them particulary valuable in that regard.
Catching a falling knife, no, I'm just trading the Gartley!
  • #149
  • Jun 23, 2010 4:22am Jun 23, 2010 4:22am
Hello,

i trade the G/B/B-Pattern since few weeks. but today i I have found an interesting "optical phenomenon" -see the attechments
2 Gartley's by identical TF - but see yourself
I thought I do not see right
which pattern is then the only valid one now?

i use the zup_v83
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_gartley.jpg Size: 201 KB
Click to Enlarge Name: EU_setup.jpg Size: 215 KB
  • #150
  • Jun 23, 2010 5:07am Jun 23, 2010 5:07am
Quoting mtbf40
Hello,

i trade the G/B/B-Pattern since few weeks. but today i I have found an interesting "optical phenomenon" -see the attechments
2 Gartley's by identical TF - but see yourself
I thought I do not see right
which pattern is then the only valid one now?

i use the zup_v83

the most recent with confirmation... nothing unusual in what you're seeing, see my post #92 (even though they are a 15 and 30 min pic, the formation was valid on both time frames for the buy and sell), you can come across this quite commonly which allows a nice range trade of these markets while they decide which way they want to go in the longer term...

general rule of (my) thumb is that the counter trend trades only get to .618A, AC, with 1.23AD max, while the in trend trades will get to AC, 1.618, n 2.618... if you're not sure which one you're in then make sure you square up majority of your position between .5 and 1.0 of AD
Catching a falling knife, no, I'm just trading the Gartley!
  • #151
  • Jun 23, 2010 5:27am Jun 23, 2010 5:27am
in case you're going to ask about what do I mean by confirmation compare the AU 30 min chart posted a few chats above with the nice pin bar to the GY 15M post below. Even though price has retreated well into the selling zone so far there has been no bearish candle triggered to give a reason to be short.
QueenFX makes a good point in one of her youtube clips about not entering into a trade in the face of long solid candles. Just because all the fibs and ratio's line up doesn't mean you should go short, you need another confirming factor, whether candle, previous s/r, trendline to give greater probability to your entry.

There is nothing to stop you entering short in GY based on this chart but to help move the odds in my favour it's always nice to have another supporting precedent.
Attached Image (click to enlarge)
Click to Enlarge Name: gy non-confirm 15m.gif Size: 32 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #152
  • Jun 23, 2010 5:32am Jun 23, 2010 5:32am
Quoting ChinaWombat
the most recent with confirmation... nothing unusual in what you're seeing, see my post #92 (even though they are a 15 and 30 min pic, the formation was valid on both time frames for the buy and sell), you can come across this quite commonly which allows a nice range trade of these markets while they decide which way they want to go in the longer term...
this is right! but , I was show 2 Gartley's 2 (different patterns) of the same time frame und the same time!! - how this can happen?
  • #153
  • Jun 23, 2010 5:47am Jun 23, 2010 5:47am
Quoting mtbf40
this is right! but , I was show 2 Gartley's 2 (different patterns) of the same time frame und the same time!! - how this can happen?

price was different so it moved on to the more recent/relevant pattern..
Catching a falling knife, no, I'm just trading the Gartley!
  • #154
  • Jun 23, 2010 6:47am Jun 23, 2010 6:47am
Quoting toyogo00
Hi,

There is a 1hrly USDCAD bearish gartley, enter short @1.0290; SL 1.0330; P1 @1.0240; P2 @1.0190. It is also a 4hrly bearish gartley.

Regards,
Toyogo
This is how i see it.
http://i834.photobucket.com/albums/z...go77/beeee.png
  • #155
  • Jun 23, 2010 6:50am Jun 23, 2010 6:50am
Quoting mtbf40
this is right! but , I was show 2 Gartley's 2 (different patterns) of the same time frame und the same time!! - how this can happen?
Hi,

a. The first pattern is a bullish gartley that formed at 08:15 and reach the high 10:15 @1.2305 (trade done).

b. The second pattern is a bearish gartley that formed at 10:15.

For lower 5/15min time frame, there usually have many gartley patterns formed in one day.

Regards,
Toyogo
  • #156
  • Jun 23, 2010 7:02am Jun 23, 2010 7:02am
Hi,

USDJPY has formed a possible daily bullish gartley but the point D is still not confirmed yet. The 4hrly also has the same pattern, so it is better to use 4hrly chart to confirmed the entry. However, the chart also shows breaking of the triangular formation on the down side. So one must trade with care!!!

Regards,
Toyogo
Attached Image
  • #157
  • Jun 23, 2010 7:10am Jun 23, 2010 7:10am
Hi,

CHFJPY has a daily bearish gartley confirmed, it is also at the major fib resistance 38.2% @81.70ish of 90.00/76.40 swing. I've entered short @81.75; SL @82.70; P1 @80.20; P2 @78.70.
Attached Image
  • #158
  • Jun 23, 2010 7:16am Jun 23, 2010 7:16am
Hi all,

I realized that some images are not displayed clearly. I would like to suggest you should use a screen capture tool. I use Gadwin PrintScreen 4.3 freeware - http://www.gadwin.com/download/

You should use "PNG" format and capture only the chart portion that you need instead of full screen.

Regards,
Toyogo
  • #159
  • Jun 23, 2010 8:14am Jun 23, 2010 8:14am
seems to be a temporary roof at 135.00 so let's see what we can get while it holds...
Attached Image (click to enlarge)
Click to Enlarge Name: gy bear-batt 30m.gif Size: 34 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #160
  • Jun 23, 2010 8:45am Jun 23, 2010 8:45am
Quoting ZimbaFx
This is how i see it.
Hi,

That 1hrly pattern I posted was 1:30am EST time, it was a failed gartley and I've stopped out for -36pips!

Regards,
Toyogo
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