There's a Gartley forming on the 4hr time frame here with some previous structure at the level. Not a particularly pretty pattern but I will definitely be keeping an eye on this.
Comments
dojitrader
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An interesting question to those that might now ---
Can you use highs for point C that are lower than highs
in between C and point A. My bet is that makes the an invalid pattern.
It might work, however because of the support area.
Hope it works for you but, there is nothing worse for a trader
than having a successful trade for the wrong reason.
stefitch
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For C not to be higher than an intermediate high the price would have to drop in a linear fashion rather than a usual stepped ABC style. Whilst this pattern has failed I think you are looking for the price to only move within the triangles drawn. These are merely there to depict the points of reversal. It is nice not to have them break out of the pattern but by and large this is not the case.
Can you use highs for point C that are lower than highs
in between C and point A. My bet is that makes the an invalid pattern.
It might work, however because of the support area.
Hope it works for you but, there is nothing worse for a trader
than having a successful trade for the wrong reason.