J_Graystone

Double Gartley Formation providing that IF>THEN Opportunity

FX:EURUSD   Euro Fx/U.S. Dollar
762 6 18
Pre Market Analysis and post market analysis is very important for many reasons.
Not only does it allow you to build discretion by evaluating your trades for the day but it also allows you to be ahead of the market, taking any "reacting in the moment" out of your trading.

For anyone who trades Gartley formations, we have a couple of options here.

IF Market pushes up, THEN we have a Bearish Gartley formation at 1.1429
IF market pushes down, THEN we have a Bullish Gartley formation at 1.1171

We will be looking a targets and stops in the live room this morning.

Anyway, see you in the room this morning at 8am British Time!

www.tradeempowered.co.uk/london-live-room


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Have both on my radar as well. Will be interesting to get your thoughts on stop placement on these ones as we have a bit of structure + 1,11 even handle under the stop for the bullish Gartley, and the 1,15 even handle a bit above the stop for the bearish one. Looking forward for today's live room session ! :)
+1 Reply
J_Graystone PRO journeyofarookie2.0
9 months ago
Good Session today. Lots to look out for. EURJPY is putting in a NSH on the 60
Reply
PetriKleynhans
9 months ago
Hey Jason, great work! This again showed me why it's important to work down from higher timeframes.
I missed both because currently I'm using the 2H chart as my CTS trading timeframe, and the 1H chart for Advanced patterns.

If I could ask another question - do you have a rule regarding when to trade patterns on a higher timeframe, or to use double ATR? I'm 90% through backtesting my different pairs, and only identified this question during the last two weeks, so haven't built it into the testing:(
Currently I'm using a 100pip target to T1 as a cutoff for the 1H chart, anything above I have to use 2H chart, or 2ATR, whichever is bigger, for forward testing. Any advise would be appreciated.

Thanks, and happy trading!
+1 Reply
J_Graystone PRO PetriKleynhans
9 months ago
Hi Petri, I didn't test ATRs for targets. I think its a great idea to test as much as you possibly can whilst initial backtesting to save going back later to obtain more data. I use Fib ratios and structure for targets on pattern formations and the position of these targets all depend on where im predicting market to go and how its likely to get there. I have 3 different rules for different scenarios
Reply
PetriKleynhans J_Graystone
9 months ago
Thanks for the reply Jason, but I think I haven't explained properly.

I'm trying to create a rule when to use the 2H chart as opposed to the 1H chart, with regards to determining my stop loss. Obviously higher timeframes get higher stop losses, so I'm asking whether you have a rule that says (for example): IF my target 1 is 100 pips or bigger, THEN I will use a 2x ATR for my stop loss, or I will use the 2H chart (which will have a higher ATR).

Thanks again for your willingness to help. I really appreciate it!
Reply
RBNonit
9 months ago
Hi Jason

Just learning about these harmonicpatterns, but it looks like price failed to get higher right? So the Bullish pattern is still on the radar, correct?
I was only seeing the bullish pattern on my own. Great post and page u have!
Cheers
Reply
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