EverythingForex
Long

UPDATE: QUICK ANALYSIS: EURUSD: WAVE 3 UP Completed Gartley

FX_IDC:EURUSD   EURO / US DOLLAR
In my previous post on this pair (see Related Ideas:"QUICK ANALYSIS: EURUSD: WAVE 3 UP +111 PIPS AND STILL GOING.."), I mentioned about a perfect Gartley pattern and that if filled, it might mark the end of wave (iv) and the beginning of the wave (v) up resuming the uptrend (wave C). That Gartley has been completed and prices are now moving in that direction. But it is still too early to say for certain that the wave (iv) is over and wave (v) has begun. However, this is a relatively low risk trade to take using the Gartley X point as the S/L. There is still a good number of pips to be had on this wave (v) up.

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i do not think so, from the low 1.0800to 1.1200 high consider as a 3 waves, i think a little bit low but not that much, go lower before rally
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It's certainly possible. In my earlier post, there is also a POTENTIAL bullish bat lower than the Gartley. If prices go lower, then I will be looking at that bat. As I said, right now, I'm not confirming that wave (iv) is done. Still too early to say that. Only that the Gartley is completed and to take a LONG position now would not be a big risk. Thanks for the comment though. GL!
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enough quiet something bro, thanks anyway
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EverythingForex PRO suprijadisoemoredjo
"enough quiet" ??? Not understanding.
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suprijadisoemoredjo EverythingForex
mean is, your bat is show everything clear. no mess other indicator. sorry for my English, usually I speak Indonesian
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EverythingForex PRO suprijadisoemoredjo
Ummm..OK. I think that's a compliment. So thanks! Yes, I try to keep things simple as I can. Good luck, bro!
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Thank you for your analysis. In this post i noticed that the CD leg of the garley is 0.886 retracement of XA leg and in the previous post it is used as 0.786. Do you have any rule for this change on the leg retracement?
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For a perfect "222" Gartley, the D point is .786. But .886 works as well. I used the .886 this time because it reduces the risk on the trade. The reason for this is because this Gartley does not sit on any major structure so needed to reduce risk. And as I said, there's not very good certainty that the wave (iv) was over. If the Gartley was sitting on some major structure or had some other legitimate reason to exist, then I would go with the .786 to be sure to get in on the trade. On this one, if it hit .786 and I missed the entry, I would not be upset as I know there would've been another good chance to enter later on a retrace.

So the answer to your question really is that I don't have any hard and fast rule as to whether to use the .786 or .886 entry for the Gartley but rather that it depends on the circumstances and the price action around it.
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KlejdiCuni EverythingForex
I have to keep notes on your answers:) Thank you for your time.
+1 Reply
i think its a alt bat. but i don't think the big boys are seeing this
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No. It isn't an alt bat. Alt bat requires a B point at .386 or less retracement of the XA. There IS an alt bat that can be located within the recent price action but for my analysis, expected price action and wave count, it doesn't "fit" my scenario for the projected price action.
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Let me hit that like button...
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