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trading forex using Gartley Patterns

  • #861
  • Apr 5, 2011 1:51am Apr 5, 2011 1:51am
Taking a trade or entering the world of trading is not a simple decision or just an easy go lucky undertaking. Yes it's true that not all who wanted an unswerving financial freedom and succeed are convinced to be a trader because a lot of technical and fundamental insights and predefined strategies should be consider and implement.

Nothing is impossible if you really have a passion. Just believe, Have a plan, Make a way and be a goal oriented with this attitude I believe those who wants to be successful out there can do it. Nothing will harm if we try a lot of new things.

Welcome to the world of trading!=)
  • #862
  • Apr 5, 2011 3:35am Apr 5, 2011 3:35am
Quoting mofo
Looking to trade CD on this if we breakout and close h1 above 136.15
this worked out nicely, rr only 1:1, but net 40 pips nonetheless
Attached Image (click to enlarge)
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Everyone is entitled to my opinion.
  • #863
  • Edited 11:22am Apr 5, 2011 9:46am | Edited 11:22am
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)
s/l on final position raised to 1.6210

3tp done...1.6290
Catching a falling knife, no, I'm just trading the Gartley!
  • #864
  • Apr 5, 2011 9:55am Apr 5, 2011 9:55am
15m, possible Gartley A set-up....

having a crap time with ucad recently so tough to take the position, but gotta follow the plan..
Attached Image (click to enlarge)
Click to Enlarge Name: 05 april 11 usdcad gartley a 15m.gif Size: 26 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #865
  • Apr 5, 2011 11:21am Apr 5, 2011 11:21am
possible set-up
Attached Image (click to enlarge)
Click to Enlarge Name: 05 april 11 audusd gartley a h1.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #866
  • Apr 5, 2011 11:56am Apr 5, 2011 11:56am
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp daily bat.gif Size: 29 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp bearish crown.gif Size: 26 KB
  • #867
  • Apr 5, 2011 9:59pm Apr 5, 2011 9:59pm
Quoting ChinaWombat
s/l on final position raised to 1.6210

3tp done...1.6290
Nice shootin' Tex.
Everyone is entitled to my opinion.
  • #868
  • Apr 6, 2011 2:00am Apr 6, 2011 2:00am
Quoting mofo
Nice shootin' Tex.

tks, it's been a while between drinks on a trade for all 3tp's to get done...hope it helps improve Aprils results over March's
Catching a falling knife, no, I'm just trading the Gartley!
  • #869
  • Apr 6, 2011 2:41am Apr 6, 2011 2:41am
Quoting ChinaWombat
patience paid off, and short @ .9305 after friday spike up, targets tp @.9150,9075,8975
sl to .9270....not sure if we've missed .9150 or still in sight, at least lock in some shrapnel for the kitty...
Catching a falling knife, no, I'm just trading the Gartley!
  • #870
  • Apr 6, 2011 6:21am Apr 6, 2011 6:21am
Quoting ChinaWombat
sl to .9270....not sure if we've missed .9150 or still in sight, at least lock in some shrapnel for the kitty...
ok,false alarm, t1 done..
Catching a falling knife, no, I'm just trading the Gartley!
  • #871
  • Apr 7, 2011 5:28am Apr 7, 2011 5:28am
We are short....Target 1 almost hit.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp bearish crown update.gif Size: 24 KB
  • #872
  • Edited 10:05pm Apr 7, 2011 9:38pm | Edited 10:05pm
Wonder if we have something here. Note, it could also be drawn as a bat if using the first retracement. In fact that is probably the more ideal pattern. End result is the same, sales around 1.05.

pros

1.t/l break
2. bearish gartley/abcd/bat
3. quasimodo/bearish crown

cons

1. selling 28 yr highs !!!!!!
2. friday
3. cd<ab in gartley - allowable for bearish gartley but more acceptable in downtrend for bearish gartley.

Not sure if i will take it, just passing it on.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 94 KB
Everyone is entitled to my opinion.
  • #873
  • Apr 7, 2011 11:37pm Apr 7, 2011 11:37pm
Quoting mofo
Wonder if we have something here. Note, it could also be drawn as a bat if using the first retracement. In fact that is probably the more ideal pattern. End result is the same, sales around 1.05.

pros

1.t/l break
2. bearish gartley/abcd/bat
3. quasimodo/bearish crown

cons

1. selling 28 yr highs !!!!!!
2. friday
3. cd<ab in gartley - allowable for bearish gartley but more acceptable in downtrend for bearish gartley.

Not sure if i will take it, just passing it on.
Oh boy, this couldn't have gone much worse! Thankfully I didn't take it, but sorry if I led anyone astray.
Everyone is entitled to my opinion.
  • #874
  • Apr 8, 2011 1:14am Apr 8, 2011 1:14am
Quoting mofo
Oh boy, this couldn't have gone much worse! Thankfully I didn't take it, but sorry if I led anyone astray.

no worries, looking at some of the position information services it has most of the retail market pretty short audusd, so until this changes, or you see a major correction on hourlys then hard to take a short position in oz..it will turn soon, but prefer to see it first than pick the top...

if it wasn't 28 year highs then i think you had a valid set-up, but the time frame is too small in comparison to the overall picture...

back to the pool... c'mon usdchf, you can do it!
Catching a falling knife, no, I'm just trading the Gartley!
  • #875
  • Apr 8, 2011 1:16am Apr 8, 2011 1:16am
Quoting ChinaWombat
ok,false alarm, t1 done..
.9205 s/l for the balance
Catching a falling knife, no, I'm just trading the Gartley!
  • #876
  • Apr 8, 2011 1:34am Apr 8, 2011 1:34am
WTG China!
  • #877
  • Apr 8, 2011 5:52am Apr 8, 2011 5:52am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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However....if you you are unable to exit the trade at Break Even, then I don't think you need to panic.....hopefully, bearish gartley might push price back down. Thanks.
  • #878
  • Apr 8, 2011 8:34am Apr 8, 2011 8:34am
Gartley bearish 30min chart. Waiting for PA to go down.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP bearish gartley.png Size: 51 KB
  • #879
  • Apr 8, 2011 8:56am Apr 8, 2011 8:56am
Quoting lazyboy
WTG China!
thanks but there have been some shite trades in there as well....

your nzdusd must be looking pretty sweet these days
Catching a falling knife, no, I'm just trading the Gartley!
  • #880
  • Edited 2:23am Apr 18, 2011 12:30am | Edited 2:23am
hard to get motivated after a relaxing week in Bali...

possible Gartley 'A' set-up (within this on 15m you can see potential beBat set-up if we break the 50% retrace which is why I have left an extra sell order just below .886)

volumes declining on rally after initial selling interest (khaki) volume

1H shows supporting trendline line initial target
Attached Image(s) (click to enlarge)
Click to Enlarge Name: apr18 gartley a nz 15m.gif Size: 33 KB
Click to Enlarge Name: apr18 gartley a nz h1.gif Size: 27 KB
Catching a falling knife, no, I'm just trading the Gartley!
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