Good R:R on this Gartley if it completes up at 0.8153 Stops Above 0.8175
Comments
farik666
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We cannot have incorrect levels in fib tools on tradingview.
That is what I am saying.. the B leg is 10 pips HIGHER than not AT 0.618... is this allowed?
The other thing is that, should we trade the D leg by 0.786 of XA or 1.272 of AB ??
Sorry if I'm loitering... just want to learn the right way and all the aspects..
JasonGraystone
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Farik, There is no wrong or right way to trade this pattern. It will all depend on your own rules and your backtesting. my rules state that the B leg MUST touch the 618 but not the 786. The D completion will be the 127 extension of the A to B leg. If the pattern is perfect, there ill be an equal AB=CD move and a 786 completion.
farik666
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thanks..much clearer now!
jorgealvarez
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is it still valid when when C closes beyond 88.6?
HKM666
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The apple doesn´t fall too far away from the tree!
farik666
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The most critical aspect of the Gartley is the B point retracement, which must be at a 0.618 of the XA leg.
I just cannot get it... whichever way I draw it.. the B leg is 10 pips higher than 0.618 ???
Is it still a valid Gartley??
JasonGraystone
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Farik, i think you may be either drawing the Fib Retracement incorrectly, or have the incorrect levels in your tool? the B Completion is definitely higher than the 618
caifu642
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I'm also interested in your opinion if there is a pattern setting up in the AUD on the daily chart. I don't know the rules about retracement percentages etc., within the Gartley's, Bats or other patterns, but it sure looks it might be a bearish something. Your thoughts? Thanks! (I also think that at it's recent high, it's still within the expanding wedge/channel).
Akil_Stokes
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Good find J.G. you're certainly improving. Keep it up my friend
We cannot have incorrect levels in fib tools on tradingview.
That is what I am saying.. the B leg is 10 pips HIGHER than not AT 0.618... is this allowed?
The other thing is that, should we trade the D leg by 0.786 of XA or 1.272 of AB ??
Sorry if I'm loitering... just want to learn the right way and all the aspects..