trading forex using Gartley Patterns

Hi Reynante,

if B doesn't get to .618 for me then it seems that there is a higher chance for a BAT to be expected....as in my post 267 on monday, i asked the question on whether it was a gartley or a bat. It depends on if you think near enough is good enough on B as it is only 30 pips away from hitting the .618...subsequent price action, and in reply to MAC Doug in 272, it seems to be doing BAT things, and now looking at BC 1.618 at .9194, and XA at .9235 as PRZ. Price action has been pretty consistent so far, no big candle bodies,so I'll leave sell orders .9240 and see what happens.
(please ignore the price orders on the chart, they're nothing to do with the harmonic signals)

you're right on the crab trades, as you can see I had two of them, and though the EU didn't work out, the $chf crab trade is moving along smoothly, and nearing TP 3,

Thanks for the answers
But it seems to me, that many are not quite correct to understand leg XA
I dont accidentally asked about his leg XA
Look what a little momentum XA (usdjpy), compared with the previous, but what a great effect I got from point D
I think it is necessary to investigate the momentum XA, it's depends on how we will choose the correct model for trade.

Sorry for my English

I'm not sure I understand your post. The move up from X is quite impulsive compared to that of the previous bars. It's a crab so you should be expecting a powerful turn around at the 1.618 after it failed it's Gartley, and BAT ratio's.

I hope you got the move, pal, or did it turn south a bit too early?

I'm really enjoing this thread. Just getting my feet wet with harmonic patterns, but I think I'm definitely going to like them...

AUSJPY POSSIBLITIES

a complated bearish bat pattern.but indicators are still strong

Congratulations to you QueenFX! Saw your thread title in the list of Forums and thought I would stop by. I think you have started a wonderful thread here for those who are interested in trading the Gartley/Harmonic Patterns. I know the basics of this, but 100+ patterns you personally traded in the last several months is alot for me. Don't know how you keep track of all those...hats off to you.

I wish you well with your thread. I think those wanting to use this method will find a good start here.

Take care,

FX4Newbies

P.S. F.Y.I. - I trade using the Andrews Pitchfork.

GBPCAD DAILY: possible bearish BAT at 1.7050 with the following confluences
possible trendline bounce
nice resistance and RN
and also the final target of the bullish correction when the bearish trendline was broken

from daily, its obviously seen that price is making higher high and higher low and could be nice to find a bullish entry on 1hr TF

1HR
we have bullish XA. X =1.6106 and A=1.6447
will be nice to look for bullish pattern withtin the XA

no need to talk about the AU BAT on dailies as both indi's have it showing...the main question is did it complete, i.e is .9221 = .9235 and does the move down from .9221 to .9150 in NY am constitute impluse wave? Was BC 1.618 at .9200 the level we should have sold instead of .886XA?

on the hourlys we have a bear gartley forming with XAB in place and potentially C formed (though it is asia on monday morning). D @.786 will come in at around .9205 (BC indicate .9202/10 as 1.27/1.618)

if this completes will that mean we have a top in place? there is a bullish ABCD building with .9105 as a target for D if,(and it's a big if at such an early stage in price action) it holds then a retest of .9220 will be on the cards.

Strategy. For the BAT, well, s/l needs to be at .9400 for classical entry, or more agrresive traders can have it above the recent high.

if you trade the hourly bear gart (if it forms then can sell at .9200, with s/l above .9230. The weakness with this is strategy is .9236 is the .886 target on the bigger picture so your s/l is at the bigger time frame sell level. Or you sell at .9200, and s/l at .9400

In a perfect harmonic world, sell at .9200, s/l .9230, tp at .9105, then go long with the ABCD, t/p .9230, and establish the longer term sell at .9235, with s/l .9400

if we don't get to .9200 today, and the impluse wave really was in NY, and the ABCD doesn't work out then we have a short term top in place and need to look for targets of .8800, .8520 & .8340.

now if you understood all of the above, then you deserve a cold beer...

china, u explanation makes sense harmonic wise but it will be common sense applied to wait for the bullish trendline to be broken on aussie before shorting unless u wonna scalp it and manage ur position accordingly

weldone

yup, or you can sell the resistance of the bearish wedge... i'm wary of selling the break while the ABCD is still a valid set-up

for an hourly trade, it's not often that it happens but it's pretty to watch, perfect fib confluence!!!! perfect BC/D target.....

now shall we see .9105 test for the ABCD and a bounce, or is that the short term top?

bearish gartley on UJ 1hr withh some confluences

opps, forgot to adjust to the new calcs, with the failure at .9205 (which is .786) , the ABCD now turns from .618/1.618 pattern to a .786/1.27 which comes in at .9123 (current price) so am squaring up here...

yep that AUDUSD sweet setup... should be good for a bunch of good entries

bullish BAT completed on EY hourlys...and a pennant forming on the larger time frame has this area as support... BC 1.618 & XA coming in at 112.72

something to keep an eye out for if (when?) EY trades under 111.00

1) we have a potential crab pattern building on the 4H chart with XA1.618 at 110.72, and BC at 110.86.

2) a much stronger pattern, also on 4H, shows a potential BAT forming up with
XA at 110.55, and 1.618BC at 110.68

GY got triggered while I was writing up the analysis...don't need to say much more...stops are below X

we've hit the .716 1.3056 for the gartley set-up however the long body candle doesn't have me jumping in quite yet.. BC 1.27 comes in at 1.3032 and XA .886 at 1.3020 so there may be some further downside to come... won't hurt to watch price action for a little while

on the kiwi we have an interesting pattern within a pattern.

on the bigger picture, we have a BAT forming .886 X1A1 coming in at .7070. The BC of X1 is actually a Crab pattern, where B1 is also X2.

X2 was originally a potential gartley, but price exploded through the .786 and past X2 so that now we look for it's crab extensions 1.618 X2A2 (which is also the internal BC structure for the BAT). The 1.618 of either the crab, or BC, (both exactly the same) arrives at .7088.

So if (when) kiwi gets under .7100 we have some pretty interesting confluence of patterns and ratio's for long's at .7070/80