EURJPY Potential Bullish Gartley "222"

FX:EURJPY   Euro / Japanese Yen
We're just about to complete a Gartley "222" for EURJPY             on the hourly chart.

Remember that in a valid Gartley "222":
- D cannot exceed X
- BC             cannot exceed XA
- AB cannot exceed X

RSI (7) shows we're almost overbought so:

- Stops below X
- BUY @ 132.90-ish
- TP 1 @ the . 382 retracement of AD (132.78-ish)
- TP 2 @ the . 618 retracement of AD (133.9-ish) and don't forget to move your stop up to break event at this point

If D exceeds X then we potentially have an opportunity to get long if a butterfly forms.
I agree with dojitrader, Carney came up the Bat I think - but still this is a nice trade, disappointed I was not on it!
Just wondering ~~~~~
With Pt. B right about .500 and Pt D @ .886, to my eye,
this looks like a Bat pattern.
Is a Gartley 222 the same pattern but with a Gartley name ?
Thanks for your thoughts ~~~~~
Wishing you lots of pips in your pocket for 2015 !!!!!!
slindstr dojitrader
In Larry Pesavento's "Trade What You See" he describes the Gartley 222 with the criteria I listed above, so I think it's the same thing. I'm guessing someone probably did backtesting with B @ .5 and D @ .886 and came up with a different probability than the ideal Gartley with D @ .786 and B @ .618 so they called it a bat pattern.

Supposedly this pattern was originally described in page 222 of HM Gartley's book "Profit in the Stock Market" so that explains the 222
dojitrader slindstr
I remember now. I had to go back and do a quick review of Trade What You See until
I realized why I thought that Scott Carney book "The Harmonic Trader" was a better refinement of the various patterns that traders use today.
Pesavento's book is GREAT, BUT, his ratio rules are so wide, almost vague, that any
ratios in between X to A could be considered a Gartley until it fails and then it
becomes a potential Butterfly, but, again, the ratios for a Butterfly are so many
that you have no basis for a butterfly "until" a Gartley fails.
Anyway, with such wide ratio rules and my empirical evidence in trading
the more precise rules of Scott Carney, it seems an improvement to Pesavento's
Great work. Having read Pesavento first and then Carney I would recommend
that to other new traders.
Wishing you LOTS of pips in your pocket ~~~~~~~~~~~~~~~
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