GBPUSD downtrend continuation + Forex Weekly Forecast Video

FX:GBPUSD   British Pound / U.S. Dollar
Hey, traders. Welcome back to another edition of the Forex weekly forecast. Here's the video
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Trade active: The Gartley was completed
hit the SL???
Gartley formation needs to have 1,272 AB extension. In your case you rely only on 0,78 XA extension. This could be wrong pattern recognition.
pharaoh1st pharaoh1st
What you call to be a "Gartley formation" is a specific type of H. Gartley's W-type pattern elaborated by Tradeempowered. Who told you I am trading Tradeempowered rules? There're many other types of this pattern. One of them is called "Perfect Gartley pattern" and it was elaborated by Scott Carney. What you see on the chart is called a "Unified Gatley pattern" and it was elaborated by Mr. Alexander Nikitin. The last type of pattern was designed as a trend following technique and it aims to hit extended targets. To work good this way this type of Gartley is only used in combination with "ACS-based swing identification technique" wich was also elaborated by Mr. Alexander Nikitin. As you can see the pattern here is neither a "Harmonic pattern" of Scott Carney, nor an "Advanced formation" of Tradeempowered. It is something different.
+1 Reply
pharaoh1st Alexander_Nikitin
Nice explanation, thanks!
+1 Reply
you are welcome, mate)
pharaoh1st Alexander_Nikitin
You didn't have to make video just for me explaining Gartley types ;) (just kidding)
But still I'm appreciate your detailed explanation on this in your youtube channel:
Another great opportunity to execute short trade on "Cable". I took the trade. Lets see what will happen.
Yeah. Let's see)
Could take 6-months to 1 year to complete - right? ;)
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