I know im Trippin hard on These patterns atm, but they add up so niceley--
the Thing is im makeing several options, so im Ready if something changes… in this scenario, i got a big Inverse Gartley from above, if the second smaller pattern is a Cypher pattern instead of a Gartley, the Targets would fit into eachother in a shocking way, so ima Keep an eye out for this if we get a higher high!
You're on the right track, check your numbers though.
There seems to be rather stiff requirements for a Bearish Butterfly:
"The B point of the Butterfly harmonic pattern is important. The wave B retracement needs to be shallow. The B point will help us calculate the other Fibonacci measurements within the gartley butterfly. The other retracement point will assist us to define new trading opportunities.
So, the ideal target for the B point must possess precise 78.6% retracement of the XA swing. Other rules that redefine the structure further include the BC projection that must be at least 1.618 measurements."
The AC looks decent, but the XB requirements are .786 and very important, so they look quite a bit off. BD Structure looks good, but too is the XD Structure a bit low (1.27 - 1.618).
See my post on Bullish Butterfly if you'd like. Good luck my dude (and please excuse my re-paste on info, I saw another Trader looking into Bullish/Bearish Butter Fly Harmonics and they're very interesting to me, but very specific)
Cryptode11
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@MrJEB, thank you for your comment ;D ill go over it! still learning them and im happy for any feedback! on my infos i had on a gartley, B has to touch 618, but can not pass 786. but ill check more sources to make sure i dont learn it wrong ;D have a good one
MrJEB
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@Cryptode11, Most welcome, as I am learning these patterns as well. I did find this site to be super helpful when addressing the rules and finding out if the patterns fit into our charts:
@Cryptode11, Here is about as close as I could get within the requirements on the Daily over the past few months, showing both Bearish in Green, and Bullish in Blue. I think the Bearish Butterfly is already invalidated, but the Bullish is still in play, as well as a Cup and Handle Formation on Daily Chart.
There seems to be rather stiff requirements for a Bearish Butterfly:
"The B point of the Butterfly harmonic pattern is important. The wave B retracement needs to be shallow. The B point will help us calculate the other Fibonacci measurements within the gartley butterfly. The other retracement point will assist us to define new trading opportunities.
So, the ideal target for the B point must possess precise 78.6% retracement of the XA swing. Other rules that redefine the structure further include the BC projection that must be at least 1.618 measurements."
The AC looks decent, but the XB requirements are .786 and very important, so they look quite a bit off. BD Structure looks good, but too is the XD Structure a bit low (1.27 - 1.618).
See my post on Bullish Butterfly if you'd like. Good luck my dude (and please excuse my re-paste on info, I saw another Trader looking into Bullish/Bearish Butter Fly Harmonics and they're very interesting to me, but very specific)