trading forex using Gartley Patterns

many thanks Kor, Any help you provide to improve the success rate of gartley is most welcome...As with Gilmores butterfly, & Carney's Bat & Crab are based on fib ratio's I tend to drag them back to gartley, especially based on Carney's ratio's. I shall look more carefully for placement and hope to get the success ratio's up from 50% to 75% on these lovely patterns to trade with your expertise.

How many of your check-list do you think is a minimum requirement to consider entering a trade.

With the 1H gbpusd analysis I can't make the abcd of C except at 1.5396

I do have
* 5 wave XA
* 3 wave AB
* 5 wave BC (but can look 3 wave on higher time frame)
*.786XA @ 1.5421 & AB=CD 1.5421 1.27BC @ 1.5406
*previous price support 1.5390-05 but this is only since after X has been created. I can't find much prior to X
*trend line support around 1.5410-20
*london open 6 hours away

I would find this trade compelling on just the fib ratio's, and the trend line support. Do you have any comments? I'll also try n post on facebook as well

China, thanks for the gu, I hadn't noticed it.

I am watching these on the audnzd m60. The first is a traditional gartley (i think) usind BC projection. Price blew thru D on data, X not yet broken, but I guess chances are it probably will be.

The second (blue) is using AB measurement and projecting from C.

Both are at daily pivots, the blue pattern rests at old support.

http://i625.photobucket.com/albums/t...eilly/an-1.jpg

I'm struggling to develop the Gartley manually, and what confluence I had has, as you said, been blown through. I'd be more comfortable trading it as double top rather than a gartley formation. I'd be looking for the attached formation if the double top works (but I would say london would be looking to test the high first so may not even eventuate). Good Luck!

Thanks for the explanatory diagrams.

@China
bravo! i think when you go with multiple confirmations and consider the context where it happens, you increase the probabilities singificantly.

@all
If you have comments to the diagrams or other confirmation technics that you find important please let me know.

i will be posting the next 8 diagrams that we prepared in ca 2 weeks.

Thank's for the advice.. I think ChinaWombat gave his advice on my last post. Yes, I made a mistake on WW pattern. Should be on correction non in trend.

I am glad to see kor4x here...!

I found potential reversal at this level area base on the HIW (Harmonic Impulse Wave) inside Bullish Gartley, I label the HIW with original Labeling setup as adviced. I look for pattern development for entry.

As i have alwayz maintained. trading patterns without convergences will do damage to account than any good. anybody trading pattern should have good trading experience on other concept like

Pure price action: candle stick formation at key support/resistance level
trend analysis: trend reversal , trendlinlines, HH n HL/LL n LH understaning and ability to decipher when they are negated
Elliot wave counting

I have been trading patterns for more than 2yrs and i have been extremely picky. I quite agree that gartley didnt define gartley with fib but i tell u there will be more confusion trading it or more to say several subjectivity trading it without fib confluences and yet the harmonic PRZ might not give good reversal without confluences(more reason a guy scalp 30pips at PRZ level)

Pattern, for me, is the best entry strategy ever created and not a method, maybe the way i trade it.

there have been many arguement on the various fib confluences, without causing confusion, any trader should use any fib confluences that fits him/her. to me, i prefer scott carney but we shdould be mindful of the follwoing structure defintions

gartleys are.

1. two triangle
2. ABCD wave inside XA
3. C must not extend beyond C

let me give u a sample of trade am watching

ANZD DAILY

obvious bearish crown. a trend reveersal.

Once i saw that, i knew for it to work, will need confirmation, so i decided to look for possible harmonic patterns that reverses trends which are

butterfly
crab

and coincendentally, crab gave a near perfect possible entry at 1.2850
lets us monitor this and learn

pity, i cant dump my site here again but few know my site and my work.

Bullish Bat pattern potential on Cable - interday chart. Any one Agree ?

trend analysis with gartley

4hr bullish crown with convergence at retest of broken trendline
1hr gave bullish gartley at right tip.....................
Good convergence for entry
support level also

nothing is 100% but trading according to plan should see acct grow over time

Good day,

here is audusd

@NaijaFX (as your post #389 on AUDUSD): time to sell? (well, let's call it a rethorical question, judging by your post #390, but I was actually thinking of it before you posted the follow through...)

@NaijaFX (as your post #387 on AUDNZD): did you actually get a trigger for a short or missed it for a few pips?

Great calls, anyway: cute, simple and effective. By the way, found and bookmarked your site

@ChinaWombat (as your post #381 on GBPUSD): did you play it the short side, betting on the PRZ acting as a sort of magnet for a 30ish pips game, or were you waiting for the price action to move south, hit the PRZ and then place a long trade? I see a sell order around 1.5470; if it was executed, you must have slept very well tonight...

@Kissaki (as your post #386 on AUDUSD): I think your HIW might have been the rationale for a short a little above .9000. For a bullish move you might have considered it a 5-0 Carney's style. Anyway, you proved to be right on the target...

Learning a lot, pals! Have a nice day all, AT67

PS: @Trendylines (as your post #377): those pics are courtesy of Wikipedia. I'm definitely not going to upload any private pics with my wife and daughters on the net... You never know

NIAJAFX,
Very nice, i saw the trade develope. nice work.

Federali

b=.5 so shud be looking for XA.886@ .9170 where we have past resistance, and daily trendline coming in but abcd = .9121 & 1.618BC=.9136, and .786@ .9125 so i'm placing orders at both to see which has more confluence

@AT67 I had a short gbp based on a bobokus fib trade that I was looking for an area of support or reason to square up so sorry for any confusion. (Unfortunately I don't know how to isolate my non-harmonic trades from others unless you know a way so sometimes the screen trades can be non-related)

HIW inside BeBat on Ausie.

Hi guys, the butterfly on the audnzd is working out nicely...for now haha, although I did take a hit on the gartley.

Also, I know it's pointess posting after the fact, but how about this bat on the euraud h1, I thouhgt I would post it just to keep everyone inspired. Unfortunately I did not take the trade as my daily mm did not allow, although I saw it develop at the time.

http://i625.photobucket.com/albums/t...illy/eabat.jpg

While we're on the euraud, I was wondering what people thought of this. On the daily it looks like there might be a gartley. Price has moved through the .788 retracement, but has obviously not broken X and now rests on trendline support. Do you think this is still ok to trade?

http://i625.photobucket.com/albums/t...illy/ea222.jpg


On the m30 I see it like this. I will be taking the trade, and may even just buy it right here!

http://i625.photobucket.com/albums/t...illy/eam30.jpg

There seems to be an ABCD with good symmetry on the au h4. ab=cd= .9119 (where we stopped yesterday).

The bc retracement is almost exactly .618, so the bc projection should be 1.618 which is .9133.

The 79% retracement from the recent highs is .9125.

So perhaps we have already made a significant high, but if we do break higher I will probably play as a fakeout. Will be watching pa carefully in .9119 - 9133 zone.

http://i625.photobucket.com/albums/t...lly/auabcd.jpg

thought this might be a bearish bat on the egh4

[IMG]file:///C:/DOCUME%7E1/DOMINI%7E1/LOCALS%7E1/Temp/moz-screenshot-1.png[/IMG]http://img835.imageshack.us/img835/7482/74443350.jpg

Uploaded with ImageShack.us

interestingly the .786 retracement is also the .786 of the previous bullish bat but the trendline might prevent us from getting there..

curious confluence

chart #1

I initially worked it as a BAT, but even that was messy as B missed .382 by a whisker so may not even be valid but nice XA and BC confluence 1.3202 n 1.3197 but no other supporting factors. The rising support line comes in at .786 along with previous support at 1.3245, hence my 'Bartley' mutation.

chart #2

we can see a bullish butterfly developing but I have no other supporting fibs at XA 1.27. We do have the previous support though at 1.3245 and the rising trend line.

common factor in both patterns = 1.3245 @ .786, and 1.27, previous support, and rising trend line. uncommon factor is no internal supporting fib ie BC

The triangle may provide some nice opportunities shortly

#1

1H chart still early but potential BAT forming, though again the confluence for fibs is at 1.5455/60 for gartley, but trendlines and prior resistance is at .886 for a BAT or Batley?

#2

4H, this is probably a bit early to call but worth watching, developing butterfly pattern action with fib confluence 1.5265/80 area and some prior support around 1.5250. would have to watch price action closely at these levels