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trading forex using Gartley Patterns

  • #581
  • Edited 3:48am Nov 15, 2010 3:27am | Edited 3:48am
I'm having trouble fitting this one... The B wave was 76% and for a bullish it should be 61.8%. (I entered off my EW count) but it looks a lot like a gartley???
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  • #582
  • Nov 15, 2010 7:47am Nov 15, 2010 7:47am
Quoting Jefftrader
I'm having trouble fitting this one... The B wave was 76% and for a bullish it should be 61.8%. (I entered off my EW count) but it looks a lot like a gartley???

i count it like this..

if you're making B @ .786 you should be prepared for a possible butterfly extension, but at least you're at breakeven now....

it's marginal but your C wave should be equal or less to A

your B-C could also count as next impluse wave, and look for another potential set-up,
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Click to Enlarge Name: gbpusd gartley.gif Size: 34 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #583
  • Nov 15, 2010 10:13am Nov 15, 2010 10:13am
http://4.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
ab=cd @ XA .786ish
Catching a falling knife, no, I'm just trading the Gartley!
  • #584
  • Nov 17, 2010 12:43am Nov 17, 2010 12:43am
http://4.bp.blogspot.com/_dswi7ZSR8G...pusd%2Bbat.gif


I'm going to wait a little bit....

*the ABCD looks like it has the potential and should extend
(due to the extreme range bar in the middle of CD),

BAT PRZ
1) C = .618AB, so expect D=1.618AB
2) .886 XA
3) 1.27ABCD
4) 2.0 BC just sits outside the Bat PRZ
5) prior S&R

nice rising trend line looks like it will provide good support for the moment
Catching a falling knife, no, I'm just trading the Gartley!
  • #585
  • Nov 17, 2010 3:23am Nov 17, 2010 3:23am
http://3.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
on smaller time frame is a butterfly/crab pattern which looks to be completed just before the small XA1.618 which is also .618 of large XA, and ABCD
Catching a falling knife, no, I'm just trading the Gartley!
  • #586
  • Nov 17, 2010 5:03am Nov 17, 2010 5:03am
Great works ChinaWombat and all

thanks for sharing

>
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  • #587
  • Nov 17, 2010 6:02am Nov 17, 2010 6:02am
http://2.bp.blogspot.com/_dswi7ZSR8G...jpy%2Babcd.gif
just missed the ABCD 100%, and a test & failure @.786 BC, then a re-test, through, but failed at ABCD
Catching a falling knife, no, I'm just trading the Gartley!
  • #588
  • Nov 17, 2010 3:52pm Nov 17, 2010 3:52pm
I believe there is a short opp on UJ 5-0 pattern (top of EW 5 ) short til Green zone then reverse for nice longs... 89 ish...
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  • #589
  • Nov 17, 2010 8:55pm Nov 17, 2010 8:55pm
http://3.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
usual slow asian corrective session...
prz includes
ABCD
.786XA
1.27AB
.786AB=C
Catching a falling knife, no, I'm just trading the Gartley!
  • #590
  • Nov 17, 2010 9:05pm Nov 17, 2010 9:05pm
http://2.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
current trade at breakeven & tp1 done.
this new formation has me bringing my original tp's down to the new ABCD

two prz's
1, abcd @ .786XA & 1.618BC

2, my preferred, 1.27ABCD @ .886XA, C is .618 of AB so expect 1.618AB also @ .886XA, 2.0BC @ .886XA



plus prior S/R
Catching a falling knife, no, I'm just trading the Gartley!
  • #591
  • Nov 17, 2010 9:58pm Nov 17, 2010 9:58pm
http://2.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
anzac's mirroring each other...?
Catching a falling knife, no, I'm just trading the Gartley!
  • #592
  • Nov 17, 2010 10:17pm Nov 17, 2010 10:17pm
http://4.bp.blogspot.com/_dswi7ZSR8G...rusd%2Bbat.gif
small abcd within bigger ABCD,
prz as marked
Catching a falling knife, no, I'm just trading the Gartley!
  • #593
  • Nov 18, 2010 1:30am Nov 18, 2010 1:30am
http://4.bp.blogspot.com/_dswi7ZSR8G...%2Bgartley.gif
with the trend
Catching a falling knife, no, I'm just trading the Gartley!
  • #594
  • Nov 21, 2010 9:21pm Nov 21, 2010 9:21pm
http://1.bp.blogspot.com/_dswi7ZSR8G...ley%2Babcd.gif
gartley ab=cd & 2.0bc conflucing at .886XA
there is also a bigger AB=CD pattern forming at slightly higher than .886XA
downtrend resistance under X

there is a potential butterfly formation but fib confluence isn't as appealing
Catching a falling knife, no, I'm just trading the Gartley!
  • #595
  • Nov 23, 2010 7:50am Nov 23, 2010 7:50am
Hi guys, this is my first post here though i follow analysis on this site everyday. Here's what i see forming on AUDJPY, Butterfly/Bat convergence, what do you guys think about this long? Fib convergences are not bad.
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  • #596
  • Nov 23, 2010 10:15am Nov 23, 2010 10:15am
Quoting efeezeefx
Hi guys, this is my first post here though i follow analysis on this site everyday. Here's what i see forming on AUDJPY, Butterfly/Bat convergence, what do you guys think about this long? Fib convergences are not bad.
sorry for the late response, and I guess you're out of the position...in harry hindsight be wary of the long candles...so ab=cd is unlikely, look for extension so aim for a crab/pesavento 1.618 butterfly as likely target area, which is also .786of your bat formation

i personally wouldn't trade the bat formation as it's not a very pretty looking impluse wave up...compared to the impluse wave down...fib's aren't doing much for me...but good luck if you're still in it, or trading the Bat formation
Catching a falling knife, no, I'm just trading the Gartley!
  • #597
  • Nov 23, 2010 10:29am Nov 23, 2010 10:29am
http://1.bp.blogspot.com/_dswi7ZSR8G...3%2Bdrives.gif
i think...
Catching a falling knife, no, I'm just trading the Gartley!
  • #598
  • Nov 23, 2010 10:39am Nov 23, 2010 10:39am
Daily:

Price trapped in a Triangle and price still bullish.

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4hr:

Bullish Gartley forming. 127.2 of AB, AB=CD, possible Trendline bounce. We hope to long this at base of triangle to top of triangle with confirmation.

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  • #599
  • Nov 23, 2010 6:41pm Nov 23, 2010 6:41pm
Quoting efeezeefx
Daily:

Price trapped in a Triangle and price still bullish.

Attachment

4hr:

Bullish Gartley forming. 127.2 of AB, AB=CD, possible Trendline bounce. We hope to long this at base of triangle to top of triangle with confirmation.

Attachment

my broker doesn't support this pair but it looks pretty good, and you have the prior s/r down in your prz... good luck
Catching a falling knife, no, I'm just trading the Gartley!
  • #600
  • Nov 23, 2010 8:29pm Nov 23, 2010 8:29pm
http://2.bp.blogspot.com/_dswi7ZSR8G...dusd%2B5-0.gif
battle of 3 drives versus the 5-0?
Catching a falling knife, no, I'm just trading the Gartley!
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