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trading forex using Gartley Patterns

  • #621
  • Nov 30, 2010 4:44am Nov 30, 2010 4:44am
GU daily chart Bullish Butterfly?
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  • #622
  • Nov 30, 2010 5:40am Nov 30, 2010 5:40am
Quoting Jefftrader
GU daily chart Bullish Butterfly?
i think it works better as a gartley, as 1.27abcd = .786XA (1.5503/13) which is better confluence than the bfly...but good luck with it..
Catching a falling knife, no, I'm just trading the Gartley!
  • #623
  • Dec 1, 2010 12:47am Dec 1, 2010 12:47am
Quoting ChinaWombat
i think it works better as a gartley, as 1.27abcd = .786XA (1.5503/13) which is better confluence than the bfly...but good luck with it..
sorry forgot to post the chart last night...breakeven trade at the moment...

in the original trade called at AB=CD (which failed) I should have paid more attention to the long price bars in emerging in CD, and the symmetrical nature of CD compared with AB which usually means a 1.27ABCD extension.

anyway fingers crossed we kick a bit higher from here...
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Catching a falling knife, no, I'm just trading the Gartley!
  • #624
  • Dec 6, 2010 9:57am Dec 6, 2010 9:57am
ABCD pattern seems on gold h1. energy point(fib expansion1.618+upper ml) is on 1436$.......
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  • #625
  • Dec 6, 2010 12:27pm Dec 6, 2010 12:27pm
Another BULL for GU? H4 5-0 Pattern.
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  • #626
  • Dec 9, 2010 9:07am Dec 9, 2010 9:07am
its been a while harmonic traders!!! nice posts .... keep it up
  • #627
  • Dec 9, 2010 9:51am Dec 9, 2010 9:51am
EURCAD 4HR...
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  • #628
  • Dec 9, 2010 10:51am Dec 9, 2010 10:51am
OK here's the deal. I have a rudimentary understanding of a basic Gartley pattern, but you guys have gone well beyond what I know. Can someone get me pointed in the right direction, preferably no books, but perhaps some articles or websites that can succinctly explain some of the things you all regularly discuss?

Thanks,

Richard
  • #629
  • Dec 9, 2010 2:32pm Dec 9, 2010 2:32pm
Quoting Richard7
OK here's the deal. I have a rudimentary understanding of a basic Gartley pattern, but you guys have gone well beyond what I know. Can someone get me pointed in the right direction, preferably no books, but perhaps some articles or websites that can succinctly explain some of the things you all regularly discuss?

Thanks,

Richard
For me I trade mostly EW -- harmonics is new to me-- but from what I gather- derrived from EW pivots (tops and bottoms).

For patterns I only use the mt4 54_search_patterns indicator- and scan 20 FX's through the multiple TF's looking for patterns.

CW appears to have the 6th sense to see the entire pattern develop so is able to trade the C D waves while the pattern is unfolding.
  • #630
  • Dec 9, 2010 4:01pm Dec 9, 2010 4:01pm
Quoting Jefftrader
For me I trade mostly EW -- harmonics is new to me-- but from what I gather- derrived from EW pivots (tops and bottoms).

For patterns I only use the mt4 54_search_patterns indicator- and scan 20 FX's through the multiple TF's looking for patterns.

CW appears to have the 6th sense to see the entire pattern develop so is able to trade the C D waves while the pattern is unfolding.
Thanks. I too am interested in EW. I took a couple years off from trading and I'm still trying to get back up to speed and just realized that Gartley fits into EW.

Thanks for the tip about the 54_search_patterns indicator, I didn't even know it was there. Now if I can figure out how to make it work!


Richard
  • #631
  • Dec 9, 2010 10:20pm Dec 9, 2010 10:20pm
au h4 at top of t/l resistance. abcd with .618 "C" retracement or bat with .50 "B" retracement as targets if we break lower.

sold .9855 with stop .9868 and target .9678. good chance i am wrong but the RR is good.
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Everyone is entitled to my opinion.
  • #632
  • Edited 11:48pm Dec 9, 2010 11:28pm | Edited 11:48pm
Quoting Richard7
OK here's the deal. I have a rudimentary understanding of a basic Gartley pattern, but you guys have gone well beyond what I know. Can someone get me pointed in the right direction, preferably no books, but perhaps some articles or websites that can succinctly explain some of the things you all regularly discuss?

Thanks,

Richard

I think you're doing yourself a dis-service if don't want to read/own the books as they're a real asset. However if you just want to whet your appetite before taking a deeper look into harmonics then...

For introductory bibs & bobs, search for articles (or get their books) from
Larry Pesavento
Scott Carney and his website
Ross Beck (Ross does a good webinar on gartleys and how EW fits around them so for us simple non-tech heads you don't need to know about the many different EW patterns. If I had known this when I first started then it would have saved many frustrating hours/years trying to pick wave structures out under EW) I've posted the link previously so just scan back to post 551.

Kor has has set-up the following
http://tradegartleypattern.blogspot.com/
http://harmonicstube.blogspot.com/

For indi's Kor is the main one I use followed by Zup. Note that while they both do a great job, (I think Kor's offers a lot more in the way of ABCD set-ups) you need to still confirm manually. They make it easier to pick up a lot of patterns that you may not find when analysing a chart (esp 15 minutes) or have the time to scan through. I watch 22 markets * 15m/30m/1H,4H,daily so you can see the benefits of having the indi's help spot things for you. They do also make some really wierd combinations so you need to confirm manually (visually or ratio's) for yourself.

There are also a great number of patterns that the indi's do not pick up. The majority of posts over the last few months have been those that I've found manually that weren't highlighted by the indi's and thought they were interesting enough to post. I didn't think there was much point to post what was showing in the indi as you would see it yourself anyway.

Kor's indi's available at http://www.tradingarsenal.com/

If you like his indi' and you end up scoring some pips from it then consider a donation to his website. He has done a lot of things to help the harmonic community without charging any costs. His indi is far superior to anything I've seen in banks to date.
Catching a falling knife, no, I'm just trading the Gartley!
  • #633
  • Dec 9, 2010 11:56pm Dec 9, 2010 11:56pm
Quoting ChinaWombat
I think you're doing yourself a dis-service if don't want to read/own the books as they're a real asset. However if you just want to whet your appetite before taking a deeper look into harmonics then...

Yes, you've nailed it. I want to see what I'm getting into before I dive in deeply. You've provided just what I was looking for.

Thanks,

Richard
  • #634
  • Dec 11, 2010 5:02am Dec 11, 2010 5:02am
Quoting Richard7
Yes, you've nailed it. I want to see what I'm getting into before I dive in deeply. You've provided just what I was looking for.

Thanks,

Richard
Yeah, its not rocket science, if your already using fibs you can get a pretty good handle on what harmonics is all about in an hour or two of research. Trading them is an entirely different matter, not sure what techniques they teach in the books but an experienced trader like you would do well to apply what you already know about entry/exits and profitability/probability and come up with a method that suits you
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  • #635
  • Dec 13, 2010 7:02am Dec 13, 2010 7:02am
Daily:

Long term bullish trendline broken and a new low formed.

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4hr:

We have a bearish gartley forming with entry at 1.0060 thereabout.

Convergences: 88.6 of XA
127.2 of AB
161.8 of BC (though 10 pips away from entry)

Hoping to short this pair.

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  • #636
  • Edited 9:13am Dec 13, 2010 9:02am | Edited 9:13am
Quoting efeezeefx
Daily:

Long term bullish trendline broken and a new low formed.

Attachment

4hr:

We have a bearish gartley forming with entry at 1.0060 thereabout.

Convergences: 88.6 of XA
127.2 of AB
161.8 of BC (though 10 pips away from entry)

Hoping to short this pair.

Attachment

no you don't, where is your ABCD?????? this is the most important and core component of the gartley. you can trade an ABCD, you can trade an ABCD within the gartely, but you have no ABCD but you have some co-incidental fib confluence. I hope you make pips from this but it isn't a gartley. You can trade .886XA as a level (Jim kane has some good stuff on this) but don't trade it under a gartley scenario

your pattern placement is correct , your measurements are a little off.

AB extension is worthless. please tell me why you include this? I think it will lose you money if you use this as supporting evidence

I have AB=CD at .786XA so I don't care about the BC confluence



try this
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Catching a falling knife, no, I'm just trading the Gartley!
  • #637
  • Dec 13, 2010 9:56pm Dec 13, 2010 9:56pm
viable alternative harmonic set-up if you can't wait for the gartley
.786XC = ABCD
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Catching a falling knife, no, I'm just trading the Gartley!
  • #638
  • Dec 14, 2010 2:12am Dec 14, 2010 2:12am
http://2.bp.blogspot.com/_dswi7ZSR8G...ple%2Babcd.gif
interesting ABCD confluence around .618B1C1
Catching a falling knife, no, I'm just trading the Gartley!
  • #639
  • Dec 14, 2010 2:37am Dec 14, 2010 2:37am
Hi guys,

Gold H4 bearish butterfly and bat. Just watching for now.
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Everyone is entitled to my opinion.
  • #640
  • Dec 14, 2010 2:51am Dec 14, 2010 2:51am
Quoting mofo
Hi guys,

Gold H4 bearish butterfly and bat. Just watching for now.
my broker doesn't have gold but your chart looks to have nice price action
Catching a falling knife, no, I'm just trading the Gartley!
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