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trading forex using Gartley Patterns

  • #641
  • Dec 14, 2010 8:46am Dec 14, 2010 8:46am
Hi there,

Learning about harmonic patterns, Gartley and AB=CD.

Been searching for Gartley indicator (with source code)) for MT4, and found some.
All gave different results, and some not easy to see the charts.

Which Gartley indicator you use here that is more reliable and easy to use ?


Also I want to see if there is an indicator where you point A and point B anywhere on the chart, then C-D will be drawn for you.

Don't want it to automatically draw just the last part, I want control to draw based on what I see in the past.

And you can control whether AB = CD , AB = 0.618 CD, etc.

I could not find this ABCD indicator at ForexFactory after some searches.

Is there such an indicator for ABCD ?

Thanks.
  • #642
  • Dec 14, 2010 11:04am Dec 14, 2010 11:04am
Quoting foxybunny
Hi there,

Learning about harmonic patterns, Gartley and AB=CD.

Been searching for Gartley indicator (with source code)) for MT4, and found some.
All gave different results, and some not easy to see the charts.

Which Gartley indicator you use here that is more reliable and easy to use ?


Also I want to see if there is an indicator where you point A and point B anywhere on the chart, then C-D will be drawn for you.

Don't want it to automatically draw just the last part, I want control to draw based on what I see in the past.

And you can...
mmm....did you read post 632? if it's not too much trouble to scroll up this page then that will answer your questions

an indi that will tell you where D will be by just drawing A-B? if i had that i wouldn't be posting here, i'd have my super-maxi yacht and be out doing a final sail before taking part in the sydney to hobart race on boxing day!!!!!!!!!!!!!!! if i/anyone had that sort of indi then we would have been well retired from trading many years ago... i politely suggest you go and do some research on ABCD's before replying

use the indi's to highlight patterns for you, but always, always, always, check manually for yourself
Catching a falling knife, no, I'm just trading the Gartley!
  • #643
  • Dec 14, 2010 8:25pm Dec 14, 2010 8:25pm
Quoting ChinaWombat
mmm....did you read post 632? if it's not too much trouble to scroll up this page then that will answer your questions

an indi that will tell you where D will be by just drawing A-B? if i had that i wouldn't be posting here, i'd have my super-maxi yacht and be out doing a final sail before taking part in the sydney to hobart race on boxing day!!!!!!!!!!!!!!! if i/anyone had that sort of indi then we would have been well retired from trading many years ago... i politely suggest you go and do some research on ABCD's before...
Thanks China Wombat.

Yes, I already read post #632 before my query.
Yes, I done some research on ABCD before my query.

Was avoiding installing Kor's harmonics as it look like just on trial basis and without source code. Yes, prefer source code indicators.
Unsure what will happened after trial.
Was looking for what other people are using for Gartley indicators?


The AB=CD indicator is not supposed to get the maxi-yacht.
The idea is that I still have to draw manually point A-B, or A-B-C, then indicator would draw an equal distance of CD based on AB, or a different fib percentage of AB.
Just save a bit on manual drawing rather than using the fib tool in MT4.
These type of indicator is available in other software.
It would be similar to a ZigZag or 1-2-3 indicators.
These existing ZigZor or 1-2-3 indicators plot automatically, except that I am looking for a similar indicator that can plot anywhere I want manually.
So if there is one out there ??


Wish you able to take part in Syd-Hob race in your future super-maxi yacht.
  • #644
  • Dec 14, 2010 9:40pm Dec 14, 2010 9:40pm
Quoting foxybunny
Thanks China Wombat.

Yes, I already read post #632 before my query.
Yes, I done some research on ABCD before my query.

Was avoiding installing Kor's harmonics as it look like just on trial basis and without source code. Yes, prefer source code indicators.
Unsure what will happened after trial.
Was looking for what other people are using for Gartley indicators?


The AB=CD indicator is not supposed to get the maxi-yacht.
The idea is that I still have to draw manually point A-B, or A-B-C, then indicator would draw an equal distance of CD based...

OK, Found alternative for AB=CD indicator.
Just using MT4 "Insert => Fibonacci => Expansion "

It basically allow me to draw anywhere, just not as pretty.
  • #645
  • Dec 14, 2010 10:31pm Dec 14, 2010 10:31pm
Quoting foxybunny
OK, Found alternative for AB=CD indicator.
Just using MT4 "Insert => Fibonacci => Expansion "

It basically allow me to draw anywhere, just not as pretty.

i'm happy to sacrifice pretty for effective....you still need to work out the A point and the zig-zags sometimes don't pick the best spot to start

you can also play around with what fibs you want to keep, add, or throw out in the expansion tool
Catching a falling knife, no, I'm just trading the Gartley!
  • #646
  • Dec 15, 2010 12:31am Dec 15, 2010 12:31am
Quoting mofo
Hi guys,

Gold H4 bearish butterfly and bat. Just watching for now.

The butterfly is playing out nicely for now, and the .618 retracement from the 1431 high sets up an abcd target of 1350 for the short.
Attached Image (click to enlarge)
Click to Enlarge Name: goldupdate.jpg Size: 103 KB
Everyone is entitled to my opinion.
  • #647
  • Dec 15, 2010 1:20am Dec 15, 2010 1:20am
Here is a little gold m5 abcd to enter into above h4. The large range candles in the CD leg make me think we will travel to 1.272 AB, but 1.00 would probably do, it's only 50cents diff haha.

There are number of bullish signs also for gold right now, like t/l support etc, so there are no guarantees here, but it's a small stop requirement and a well reasoned trade, so lets see.
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #648
  • Dec 15, 2010 1:44am Dec 15, 2010 1:44am
and now a possible m1 abcd forming in the CD leg of the m5. 1392 i will set the traps.
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #649
  • Dec 15, 2010 3:52am Dec 15, 2010 3:52am
We took a short position at 1.0061, stop at 1.0120, Target 1 at 0.9990 and target two at 0.9919.

Target one has been hit we advice that stop be moved to entry.

Thanks.

Attached Image (click to enlarge)
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  • #650
  • Dec 15, 2010 4:46am Dec 15, 2010 4:46am
with a possible 1-2-3 thrown in
Attached Image (click to enlarge)
Click to Enlarge Name: 151210 gartley.gif Size: 35 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #651
  • Dec 15, 2010 9:59am Dec 15, 2010 9:59am
4hr:

I saw this almost too late....

We have a bullish BAT pattern that could push price up we also have 123 pattern too.


Attached Image (click to enlarge)
Click to Enlarge Name: cadchf bat (long).gif Size: 27 KB
  • #652
  • Dec 15, 2010 10:40am Dec 15, 2010 10:40am
posible pesavento bfly forming
Attached Image (click to enlarge)
Click to Enlarge Name: 161210 crab.gif Size: 34 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #653
  • Dec 15, 2010 8:31pm Dec 15, 2010 8:31pm
Sorry to post a little late, but I have reasons on the higher tf's to take this short, and if I am correct missing the first 20 pips will be of little consequence.
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #654
  • Dec 15, 2010 8:57pm Dec 15, 2010 8:57pm
Quoting mofo
Sorry to post a little late, but I have reasons on the higher tf's to take this short, and if I am correct missing the first 20 pips will be of little consequence.
I see multiple (4) ABCD confluences 84.09-84.38 along different time frames, good luck! I had a sell order at 25 which missed by 5 pips but glad you can take advantage it.
Catching a falling knife, no, I'm just trading the Gartley!
  • #655
  • Dec 15, 2010 9:25pm Dec 15, 2010 9:25pm
Hi ChinaWombat,

Here is a possible m1 entry into the cj.
Attached Image (click to enlarge)
Click to Enlarge Name: cjm1.jpg Size: 118 KB
Everyone is entitled to my opinion.
  • #656
  • Dec 15, 2010 9:51pm Dec 15, 2010 9:51pm
Quoting mofo
Hi ChinaWombat,

Here is a possible m1 entry into the cj.

Looks like I am wrong on this. Has broken the t/l and plenty of stops above. Also feel ucad could take out 1.00. Probably best to stand aside.
Attached Image (click to enlarge)
Click to Enlarge Name: cjm1.jpg Size: 121 KB
Everyone is entitled to my opinion.
  • #657
  • Dec 15, 2010 11:31pm Dec 15, 2010 11:31pm
Quoting mofo
Looks like I am wrong on this. Has broken the t/l and plenty of stops above. Also feel ucad could take out 1.00. Probably best to stand aside.
I couldn't be a buyer of this pair. I don't place any credence on a M1 (or even M5,M15) chart in asian time zone (no offence)... a retracement to 84.10 is healthy and you can sell it if it breaks under 83.70 using a basic 1-2-3 entry.

There are 4 ABCD's as mentioned before, the first A I can only show C on the chart, then A1 finishes at 1.27, while A2,A3,A4 are all ab=cd's all finishing 84.10-38 area, plus the XA1.27 of your b-fly. That for me is remarkable set of confluence, (hell, I'm happy when I get just two ABCDs converging ) across MTF's, all from quite varying staring points. It doesn't guarantee a short possie will be a winner but as a balance of probabilities it is a very strong hand.
Attached Image (click to enlarge)
Click to Enlarge Name: 161210 multiple abcd.gif Size: 33 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #658
  • Dec 20, 2010 7:23pm Dec 20, 2010 7:23pm
Thinking .9980 might be a place to consider au shorts.
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #659
  • Dec 20, 2010 10:31pm Dec 20, 2010 10:31pm
A wee m1 gartley for entry into the hourly short posted above. 3.5 pip stop lol. Unlikely, but good rr.
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #660
  • Dec 20, 2010 11:34pm Dec 20, 2010 11:34pm
Quoting mofo
A wee m1 gartley for entry into the hourly short posted above. 3.5 pip stop lol. Unlikely, but good rr.

b/e on this now. will probably scratch out with shanghai rallying after lunch, but the pattern seemed to work well for entry (although of course it would always be simply a coincidence)
Attached Image (click to enlarge)
Click to Enlarge Name: aum1.jpg Size: 101 KB
Everyone is entitled to my opinion.
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