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Alexander_Nikitin
Aug 6, 2020 2:31 PM

Euraud. Gartley Pattern Long

Euro Fx/Australian DollarFXCM

Description

A potential Gartley Pattern is setting up. Look at priceaction within the Reversal Zone. Good luck
Comments
mitsukeep
Looking forward for a great news ahead!
Lococobutter
Why is the D point projection of your Gartley an 0.886 rather than a 0.786 retracement? Also it’s best to have an 1.272 or 1.618 ABA fib extension that converges along with your 0.786 at the PRZ D point.
Alexander_Nikitin
@Lococobutter,

The black level is the ab=cd measurement. the PRZ is the zone between ab=cd and 0.786XA. according to harmonic rules the Gartley is not completed until Terminal Price Bar tests the last level of the PRZ. Consequently, the D-point (completion point) should be placed at the last level.

What is best for you, doesn't mean best for anybody else. If you insist that 1.272AB/1.618AB extention is the best for everyone then you need to provide you backtest results. 1.272AB, 1.618AB ratios are commonly used with advanced formations. A Gartley Pattern is NOT A Gartley Advanced Formation(1.272AB/0.786XA). The first one is harmonic, the second one is not. Same with a Bat Pattern and a Bat Advanced Formation(1.618AB/0.886XA).
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