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trading forex using Gartley Patterns

  • #841
  • Mar 30, 2011 9:43am Mar 30, 2011 9:43am
Quoting trader346
Not to sure i would be so quick to discount it. A 15% move outside the prz in a lot of cases is the first fib retracement you hit. Perhaps its just me, but seems like a valid time to move a stop. Although I know when to move stops etc are debatable so i do not want to get into that with you. All i want to say is there are a ton of ways to trade these and you have to do it with a way that works and fits your style of trading.
i guess it depends on what the 15% is based upon, it's not clear to me. I read it as 15% of the prz, but it could be CD or even AD. If it's AD then that could make some sense however if it's CD even Carney believes that .38 is logically the first point to consider to put at BE as that is the key point on when a continuation could fail...
Catching a falling knife, no, I'm just trading the Gartley!
  • #842
  • Mar 30, 2011 10:05am Mar 30, 2011 10:05am
possible original Gartley "A" formation (or crown) on smaller gu time frame
Attached Image (click to enlarge)
Click to Enlarge Name: 30mar m15 crown formation gu.gif Size: 27 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #843
  • Mar 30, 2011 11:46am Mar 30, 2011 11:46am
and in the bigger picture....looking to buy at .618 of recent rally
Attached Image (click to enlarge)
Click to Enlarge Name: 30mar 60m crown formation gu.gif Size: 26 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #844
  • Mar 30, 2011 8:15pm Mar 30, 2011 8:15pm
Quoting mofo
uchf h1 BO with close above after extended range with shallow pullback.
uchf CD leg worked out nicely (just) for 45 pips at 1.4R.

egh1 crab from post #811 was good (although i did not trade it).

here is an h1 kiwi abcd. D is also the 1.618 extension from the high. disapointed i didn't play the breakout and trade CD, but maybe a short now, or a long audnzd.

alll the best.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: swissy.jpg Size: 86 KB
Click to Enlarge Name: kiwi.jpg Size: 112 KB
Everyone is entitled to my opinion.
  • #845
  • Mar 30, 2011 8:43pm Mar 30, 2011 8:43pm
eu h1 gartley (orange)with perfect fib proportions at tl resistance.

will depend what happens with the purple abcd. if we get an h1 close above 1.4150 before breaking the potential C pt (1.4115), i will probably trade the breakout with target 1.4205 and ignore the gartley.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 98 KB
Everyone is entitled to my opinion.
  • #846
  • Mar 30, 2011 9:28pm Mar 30, 2011 9:28pm
Quoting mofo
uchf CD leg worked out nicely (just) for 45 pips at 1.4R.

lll the best.
it seems that it just needs abcd @ .786 with a nice pin bar has stopped it...might not get my .886.... nice trade mofo
Catching a falling knife, no, I'm just trading the Gartley!
  • #847
  • Mar 30, 2011 10:18pm Mar 30, 2011 10:18pm
Quoting ChinaWombat
it seems that it just needs abcd @ .786 with a nice pin bar has stopped it...might not get my .886.... nice trade mofo
Thanks China.

Just covered kiwi short +20, that'll do for asia
Everyone is entitled to my opinion.
  • #848
  • Mar 31, 2011 1:13am Mar 31, 2011 1:13am
Quoting mofo
eu h1 gartley (orange)with perfect fib proportions at tl resistance.

will depend what happens with the purple abcd. if we get an h1 close above 1.4150 before breaking the potential C pt (1.4115), i will probably trade the breakout with target 1.4205 and ignore the gartley.
i do like the confluence for the gartley,with 1.27bc, abcd,x.78 all within 5 pips, and position, lower highs, lower lows, which if it fails will probably make it a bullish flag/pennant thingy...

the .618 of the drop from the highs comes in at 1.4163, while i'll see if we can get a spike through the declining resistance that doesn't follow through
Attached Image (click to enlarge)
Click to Enlarge Name: 31mar 60m gartley eu.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #849
  • Mar 31, 2011 3:56am Mar 31, 2011 3:56am
Quoting mofo
eu h1 gartley (orange)with perfect fib proportions at tl resistance.

will depend what happens with the purple abcd. if we get an h1 close above 1.4150 before breaking the potential C pt (1.4115), i will probably trade the breakout with target 1.4205 and ignore the gartley.
went long the purple abcd and ignored gartley as discussed on h1 close above 1.4150. exited slightly early at 1.4200, but still good for +51 at 1.4R
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 108 KB
Everyone is entitled to my opinion.
  • #850
  • Mar 31, 2011 7:23am Mar 31, 2011 7:23am
Quoting mofo
went long the purple abcd and ignored gartley as discussed on h1 close above 1.4150. exited slightly early at 1.4200, but still good for +51 at 1.4R
must have been me taking your offer to get out of my sucky eu....nice pick on the hourly bar as the pattern trigger (or non trigger) to enter/stay out of the pattern
Catching a falling knife, no, I'm just trading the Gartley!
  • #851
  • Mar 31, 2011 7:25am Mar 31, 2011 7:25am
nice fibs 1.618bc+1.618abcd near .886xa, declining volume at new lows
Attached Image (click to enlarge)
Click to Enlarge Name: 31mar 1h bat usdcad.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #852
  • Apr 1, 2011 1:26pm Apr 1, 2011 1:26pm
Attached Image (click to enlarge)
Click to Enlarge Name: ncad short.gif Size: 22 KB
  • #853
  • Apr 4, 2011 12:10am Apr 4, 2011 12:10am
Quoting ChinaWombat
that fit's in nicely with the 4H chart Mofo,

.9300ish there is very nice confluence @.886XA=1.27abcd=2.618bc plus prior pivots and dynamic declining resistance... one to keep an eye on...
patience paid off, and short @ .9305 after friday spike up, targets tp @.9150,9075,8975
Catching a falling knife, no, I'm just trading the Gartley!
  • #854
  • Apr 4, 2011 12:26am Apr 4, 2011 12:26am
Quoting ChinaWombat
and in the bigger picture....looking to buy at .618 of recent rally
it took a little longer, and the retrace >.786 but has fulfilled out Gartley 'A' requirements...

tp1 @ 1.6135 done and now BE

px targets to upside .618 and .786 of the declince. This decline could also be XA with ultimate BAT structure but will need time for that to form (if it does at all) but green shading provides possible prz.

ab=cd could provide some initial resistance and looking to buy .618 of fridays low to ab=cd (approx 1.6055ish)
Attached Image (click to enlarge)
Click to Enlarge Name: april 04 gartely a .618 buy.gif Size: 30 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #855
  • Apr 4, 2011 12:53am Apr 4, 2011 12:53am
Quoting ChinaWombat
it took a little longer, and the retrace >.786 but has fulfilled out Gartley 'A' requirements...

tp1 @ 1.6135 done and now BE

px targets to upside .618 and .786 of the declince. This decline could also be XA with ultimate BAT structure but will need time for that to form (if it does at all) but green shading provides possible prz.

ab=cd could provide some initial resistance and looking to buy .618 of fridays low to ab=cd (approx 1.6055ish)
nice trading china, congrats!
Everyone is entitled to my opinion.
  • #856
  • Apr 4, 2011 12:56am Apr 4, 2011 12:56am
I'm keeping an eye on this ea range and may trade CD if breakout can close above B
Attached Image (click to enlarge)
Click to Enlarge Name: ea.jpg Size: 122 KB
Everyone is entitled to my opinion.
  • #857
  • Apr 4, 2011 10:52pm Apr 4, 2011 10:52pm
possible Gartley A set-up on ay....
Attached Image (click to enlarge)
Click to Enlarge Name: april 05 gartely a .618 sell.gif Size: 23 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #858
  • Apr 5, 2011 1:11am Apr 5, 2011 1:11am
wonder if this is anything on the kiwi @ .7698

i won't be taking the trade, just watching out of interest
Attached Image (click to enlarge)
Click to Enlarge Name: kiwi.jpg Size: 100 KB
Everyone is entitled to my opinion.
  • #859
  • Apr 5, 2011 1:15am Apr 5, 2011 1:15am
Quoting mofo
I'm keeping an eye on this ea range and may trade CD if breakout can close above B
Closed + 7 pre RBA announcement lol.
Attached Image (click to enlarge)
Click to Enlarge Name: ea.jpg Size: 94 KB
Everyone is entitled to my opinion.
  • #860
  • Apr 5, 2011 1:18am Apr 5, 2011 1:18am
Looking to trade CD on this if we breakout and close h1 above 136.15
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 86 KB
Everyone is entitled to my opinion.
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