TVC:DAX Index of the 30 major German companies
Trading The PatternOnce upon a time, there was this insanely smart trader dude named Harold McKinley .He had a advisory service in the mid-1930s with a huge following. This service was one of the first to apply scientific and statistical methods to analyze the behavior.According to , he was finally able to solve two of the biggest problems of traders: what and when to buy.Soon enough, traders realized that these patterns could also be applied to other markets. Since then, various books, trading software, and other patterns (discussed below) have been made based on the Gartleys. a.k.a. “222” PatternThe “222” pattern is named for the page number it is found on in H.M. Gartleys book, Profits in the . Gartleys are patterns that include the basic we’ve already talked about, but are preceded by a significant high or low.Now, these patterns normally form when a correction of the overall trend is taking place and look like ‘M’ (or ‘W’ for patterns). These patterns are used to help traders find good entry points to jump in on the overall trend.