trading forex using Gartley Patterns

Just as we called it.
http://i834.photobucket.com/albums/z...HEDPRODUCT.png

http://i834.photobucket.com/albums/z...HEDPRODUCT.png

that's pretty much how I see it as well....

Great Job Queen FX!

and a bottle of sparkling for Boris' providing the catalyst ....anyone who puts youtube videos out on how to capture 10 pips scalping and is then on TV predicting the longer term trend of a currency can only be countertraded!

btw the profit targets you're using are 038/.618 and ?

potential crab forming on nzus....major components of XD 1.618 and 3.618BC in place...maybe some short covering for europe open?

The ratio's don't look as pretty as the kiwi and $CAD (XA & XD) and normally would leave this trade alone as I have enough exposure to the commodity currency plays already. The big rally from .8080ish to .8840ish 50% retrace is at .8470ish so expect that maybe some short term support to come in at this area. If it can hold through London session then may see some strength later tonight-tomorrow.

Does the Korharmonics indicator still work for you guys? Mine is telling me to contact the author because it's expired.

you can get the latest at Kor's website for testing...

the new version of Kor is working much better than my previous one...

I agree, the latest Kor is really good ....

whats better about it?

I may have had a corrupt file version with the previous one kept locking up my screens which was quite annoying. I thought maybe it was using up too many of my laptops resources. So far the new version is running extremely smoothly.

KOR is an extremely useful indicator but requires a lot of time to understand and appreciate. If you don't like to use a black screen it can also be a little bit fiddly with changing colours, with some not able to change. That little grumble aside it has powerful stuff inside it. As this is a Gartley thread I wont go into to much detail as it could be off topic but using the ABCDE triangle component, and, ABCD S/R points you can square up some gartley type trades before they fail, or at least gives you warning levels to consider if you want to hold the position.

I know this chart looks like it belongs in a disco but you get used to it..http://cdn.forexfactory.com/images/icons/icon6.gif

1. On this sell you have nice double confirmation of the ABCD 'roof' in crimson combined with the pink gartley pattern which finishes the previous Gartley in Green. The D point on the elliot triangle allows you to cover, or consider covering your position. Or you know an 'e' is coming up and wait for the reaction there holding original position.

2. This second sell is the e point of the triangle with classical targets the distance of a-b subtracted from e. I modify this to 3tp's, D, B and the classical.

3. The buy signal on the gartley here allows you to either participate in the bullish formation, or to square up your original pink garley short, or your new 'e' short with just 2 TP's done, and the third still in profit.

4. The new sell signal on the 'e' confirmation now allows a new position to enter

sorry to be off topic but another nice abcde from Kor....

wow, thanks for that. seems like kor is gettin better. i wonder when they will come out with an unlimited version.

big ass pattern on daily Usdjpy

Hi ChinaWombat,

Have you done the comparison of Gartley pattern between KOR and ZUP? I'm using ZUP and hesitate to change unless KOR is a lot better!


Regards,
Toyogo

all the ratio's look good on the hourlys, and the 4 hours still has it's bear bat of 1 degree higher....let's see http://cdn.forexfactory.com/images/icons/icon7.gif

Hi Toyogo,

I haven't done anything quantitative to compare them. I used to have both running to keep track of the opportunities, but basically now just have KOR now that my laptop isn't feeezing up. If ZUP is working for you then stick with it. I find KOR offers up a little more in the way of options, as mentioned before, elliot triangles, and ABCD s/r points which provide some extra trading potential outside Gartleys, and also re-inforce's the Gartleys via other means.

I have charts where KOR shows something, but nothing shows up on ZUP, and vice versa. I've had a ZUP BAT confirmed by a KOR ABCDE but KOR didn't show the BAT. I've had them show opposing patterns sometimes.

Basically they are indicators that guide us to potential set-ups. I still have to check the calculations of the ratio's to be comfortable, and look for confirmation through other patterns, or candle stick set-ups.

I feel KOR offers a few extra tools that I like, but it really has taken months to get comfortable with them due to the laptop problems closing me down so much that I had to delete and re-intall it a few times.

Hi ChinaWombat,

Thank you very much for your feedback. I think I will stay with ZUP although my hardware is very powerful (T400 with 4GB RAM on XP Pro. FYI, I use Acronis True Image for backup/restore which save a lot of time - only 30mins to fully restore the image instead of a complete re-installation which may take few hours).

I agreed that few other types of confirmation is very important such as candle formation (hammer etc). I use the major Fib support/resistance and upward/downward trendline confluences to add on the confirmation of Gartley.

Regards,
Toyogo

Might be an ending diagonal with high volume on 30m.