FX:USDJPY   U.S. Dollar / Japanese Yen
127 7 2
Drawing self explanatory
Any comment feel free to share
And you fortunately ended up making profit of an ABCD pattern.....
Here.... It's AB=CD.... :-D
alogg pavan15589
you're right! i must have extended the ratios a little, it's for all the others that don't complete..eheh ;)
alogg pavan15589
4h are too big for me, i haven't got yet the patience i guess
I always look for AB=CD when the Gartley gets violated....You will be in a better risk to reward...... :-)
Is the pattern still holding...?....Cos a Gartley's first leg usually has a retracement leg of maximum 61.8 and the final leg CD will be not more than 88.6%....Since there is a candle that has closed already beyond this point, you could look for ABCD completion.....
You could see a butterfly though on the move or a another Bat if you pull down a bigger XA leg...
Am sorry if I am wrong, am not sure....
alogg pavan15589
Hi Pavan, As you can see the pattern got successfully completed and retraced to .382 providing expected profit at Target. I also got very lucky that news announcement turned into my favor on that one.
But can't detect any pattern formation on this timeframe, we could expect a Bull Bat reaching it's B point on 15mn chart though. Let's see..
There's one on 4hrs chart....
You could see my post....

And I actually meant about the ratios, as I said the AB is not more than 61.8% of XA on Gartley And the final leg, CD will be a max 88.6% of XA....
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