trading forex using Gartley Patterns

There is a 0.788 retracement on euraud h1 that might set up a butterfly, so I bought in what I hope might be the C area. Stop is just below 0.886AB.

not sure if this was mentioned last week but large gartley on daily or weekly e/g

post a chart later. have a good day

i've changed my view on if this is a gartley or a BAT, and edging to a conservative BAT strategy (though i feel it will stop at the rising support and end up a gartley, weight of support tends to favour .886 as support zone...

i have a little abcd=1.618ABCD=XA.886 coming in above support..

have ABCD @ 1.6290, .886@ 1.6300, abcd @1.6275 and prior pivot resistance

some confluence points combined with prior pivot highs (grey) coming in along with BAT structure
.886XA @ .7416
2.618bc @.7412
1.618abcd @.7396

on larger time frame, a possible continuation ABCD comes in at .7410

I didn't pay attention to this set-up (probably wiping the blood from my keyboard after some crap calls early this week, I seem to have a few shockers on Mondays so may just reduce the trading week to Tue-Fri ) and missed a perfect fib confluence (3 seperate ratios all within 2 pips) plus an AB=CD 10 pips away which is pretty remarkable on a 4H chart!

it again helps confirm my theory that all trade set-ups should be taken regardless of personal view if everything is in place, fibs, S&R, pivots etc. I was a gbpusd bear early this week so probably didn't think eurgbp could do much so stayed out of it. At the end of the day the market doesn't give a rats arse on what I think, so i should just do what it tells me which it highlighted with a very big fib confluence...

try to sell the .618 retrace (if any)

Hi China, I missed that too, in fact the only one I am in right now is the nzd/usd long from 200. I saw that (eur/gbp) trade as a gartley on the weekly as well! Looking to sell a retrace.

got lucky @.618 on both eg and eu so fingers crossed that we start lower...

i think the ABCD i pointed out on eg is the ABCD for your gartley... if it was a smaller time frame i prefer to enter at D even if .786 is a little bit away but with the dailys/weeklys that is a lot of pips and probably more difficult to do..hope you got in on retrace...some how i don't think i'll be holding it as long as you if it does go down...i usually only look for .618 of CD on abcd..though i usually look for more on gartley (so maybe i'll start to consider this eg as a gartely with a longer price target if can survive the next few days)


i'm still short nu, been a grinding night last night, (and even today) I doubt my tp targets will put your your s/l in the slightest bit of danger (if it goes down)... good luck

i would really like a test under 1.4100 as that would set up potential gartley/bat scenarios...

not that it matters (as i didn't post the trade prior to entering) original sl @ 1.4255, 1st tp at 1.4120 done, now @be on balance

Let's see if it works out for both of us!

egh1 bearish crab

apologies for the late posting but with the HK 7's celebrations beginning yesterday, and having one toooo many drinks it's hard to stare into my laptop today...

1st chart

squared up my short eurusd position after the deep crab pattern appeared with nice confluence. If I was thinking more correctly at the time (and not deeply involved in conversations on the prospects of the Super 15's this weekend) then a long eu position should have also been entered with the s/l based on previous pivot could have been a logical placement. It was also 50% retrace of the up move.

2nd chart.

new short position entered upon the second test of XA.786

3rd chart.

Now looking at trading CD of a BAT. I'm not that greedy but 1.618ABCD = .886XA plus prior rising support (if we get there). Alternative set up is that we are in BC of a rising abcd with a target 1.4300ish

EG was stopped at b/e but looking at BAT set-up

i thought this was a gartley but without the .618 achieved, and strong daily up bar, it's probably better to be a bit more conservative. there is also better confluence at .886 = 1.618BC and 1.27abcd coming in a little earlier

eu bat forming on smaller time frame so will look to square up for the weekend at confluence zone (if we get there) and start again next week...larger time frame still in play but shorter term rising support needs to be respected...and it's friday...difficult week

tp 1 done, and move tp2&3 to 1.4085

have a good weekend...c'mom brumbies!

hourlys have possible bat set up with confluence of .886xa and 1.27abcd but minimal bc support. we do have rising trendline support plus prior pivot support.

potential problem could be that with the sharp decline (ideally all those pricks who bought it up and stopped me out are now copping it as badly, or worse, on the way down..., bitter, twisted, moi?) and this could be setting up for a be bfly...but that is a long way away to consider

this usdx gartley supposrts your cable trade china

looks good and off a big number, should at least get some kind of hold.

Good stuff in here guys - but has anyone thought about trading the patterns automatically ? I found this interesting video recently:

my broker atc is still having price feed troubles so looking for a new platform so may not be updating for a little while....the gu is obviously cactus, whilst the eu got squared up a wee bit early

i'm happy to look at anything that can improve the success in producing a higher probability pattern recognition process, however


1) you can download the pattern finder quite easily as it's just ZUP (it's quite amusing that on one of their FXGW pages they are talking about locking down "their" code as people are trying to copy it). You can configure mt4 to send out alerts. At the end of the day it's still only an indi, and you still DO NEED TO DO MANUAL CONFIRMATION. (which i happen to find enjoyable, it's a weird place of the world i inhabit)
plus there are many patterns which the indi doesn't find, but which other indi's such as Kor can find more successfully, or can be done manually.

2) it's surprising that they now have added 50 (50!!!!!!!????wtf!) indicators to the free open source zup indicator. Why surprising? Well they say they have at least a minimum of 88% success rate on their patterns They don't define 'success' though, or I couldn't find their definition of it.

http://www.fxgroundworks.com/skins/d...ages/study.jpg

if you're kicking 88% success rate then aren't 50 indicators a bit of overkill? if they say they only look for r:r >1.5 then @ 88% success rate then that is a gold mine in itself? Maybe you can't sell EA's to street punters unless it has a minimum number of indicators in it to justify the price to the retail market.

3) with the above stated pattern success rates, their trading results don't seem to match up to the success rate
http://www.fxgroundworks.com/skins/d...ges/recent.gif

4) Scott Carney has associated himself with them so maybe they could be worth paying attention to now with his endorsement

5) I'd be interested to see the forward testing over 3~6 months over 15m ~4H if you do purchase it

ps to Dustin, please stop mumbling, read the script clearly, and
a) light is spelled light, not lite, eh.
b) we're up is not were up (we are up= we're up), eh.
c) 'out' is pronounce as in 'shOUT' not as 'oot' as in 'shOOT', eh!

now where to find a new broker....