If you have this pattern in your trade plan then...
sell in 129.438-130.666 zone. if the zone is crossed then the pattern didn't work. first target is 128.327, second target is 127.708. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
However, this is not at all a gartley pattern.the gartley pattern B point is never below 0.618. in addition this might be a bat pattern if it breaks above approx level 129.324 and complete further above it.
Oh and please check (the exact scott carney's ratios and don't forget to use any oversold/overbought indicators like the RSI.
This is most probably going down as per the trend direction alignment with the daily>> maybe will go up to complete a bat pattern and then continue the main down trend.
Thanks again bro.
You are RIGHT if you are talking about a GARTLEY ADVANCED FORMATION (Jason Stapleton, Akil Stokes, Charles Miles, Jason Graystone, Darren Oglseby). Its B-point must be => 0.618XA.
You are WRONG if you are talking about GARTLEY HARMONIC PATTERN. it's be point should be "precise 0.618XA". Scott Carney advocates that "precise" means +/-3%. In this case the B-point can be slightly less than 0.618.
You are WRONG if you are talking about PESAVENTO GARTLEY PATTERN. it's B-point is not regulated at all. The only requirement is the ab=cd structure that terminates either at 0.618XA or at 0.786XA.
You are WRONG if you are talking about ROSS BECK TCG786 and TRG786 VARIATIONS. it's be point can be as small as 0.382XA.
You are WRONG if you are talking about ALEXANDER NIKITIN UNIFIED GARTLEY. it's B-point range is 0.441-0.736XA.
All these guys performed a profound market research analyzing tens of thousands of these formations and discovering their variations. All of them were/are using software to identify patterns for realtime trading and market research. Below is the list of their official software:
1) Constellation Software, Enigma Software for Gartley Advanced formation
2) Harmonic Analyser, Formation Seeker, Patterns Collection for Gartley Harmonic pattern
3) Wave Trader for Pesavento Gartley Pattern
4) Quadrilateral, Beck's Emblem for TCG786 and TRG786 patterns.
5) MPS Pro for Unified Gartley pattern.
Hope the above information makes the chart a bit clearer for you....
No comment !!!!!!!!??????
You are imagining things and thinking that it is the right thing to do !!!!!!!!!
also just because sth is not written in books doesn't mean it cannot be right. Knowing Alexander he has spent thousands of hours backtesting, something you are not aware of, and if through backtesting you can identify an edge with a specific pattern, and it works for you, then no-one can tell you not to use it or that it is wrong.
1) Gartley advanced formation: Tradeempowered tutorials
2) Gartley harmonic pattern: "Harmonic Trader", "Harmonic Trading, Vol.1" by Scott Carney.
3) Larry Pesavento Gartley: "Profitable patterns fo stock trading", "Trade what you see" by Lary Pesavento
4) TCG786 and TRG786: "The gartley trading method" by Ross Beck
5) Unified Gartley: Alexander Nikitin's video: https://www.youtube.com/watch?v=o13YgSZWAPQ&t=174s