The Gartley Pattern is one of the most traded harmonic patterns and can be applied to many markets and timeframes. It is a 5-point retracement structure that was originally outlined by H.M. Gartley and detailed further by Scott Carney. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg lies at 0.618 and the PRZ consists of 3 converging harmonic levels: 1) 0.786 retracement of the primary XA leg, 2) AB=CD pattern and 3) the BC projection is either 1.27 or 1.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Gartley Patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool that allows users to visually identify 5-point reversal structures on a chart.
Hello Friends,
Today I have 2 scenarios for you to ponder. Remember that these patterns have a bearish outcome. Details are in the link provided and on the chart, have an awesome day!
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and...
USDCAD Ascending triangle + Bullish bat pattern
+ Bullish bat pattern
+ clean ascending triangle pattern on 4H timeframe.
+ Does bullish gartley TP1 and TP2 still in effect?
+ Stop loss is your friend.
+ Take profit...
By the grace of Allah the most high in my previous ideas the TNTBTC gave 92 percent and 28 percent respectively.
This time it has completed the gartley pattern and the price action is in PRZ insha Allah.
I have defined the targets accordingly plz find on chart.
Regards,
Atif Akbar (moon333)
USDCAD ascending triangle on 4H timeframe.
+ Textbook ascending triangle
+ watchout for 'fakeouts'
+ Previous pattern TP1 reached.
+ Stop loss is your friend.
+ Take profit depends on your risk appetite.
The price action has completed a formation of gartley pattern and now entered in buying zone.
We have also 100MA inside buying zone which will help to support the bullish move from here insha Allah.
The targets are defined accordingly plz find on chart.
Regards,
Atif Akbar (moon333)
The PRZ was tested and now looks heading towards 0.382 of CD where there is a POC. Several signs point towards the same point. Actually an upper POC is close to 0.618 retrace, let's wait and see.
The extreme sell of on 25 jan could not stop the price action to gear up again, it was due to the some exceptional situation with steem and more than that the bad press played an important role.
Now I am expecting a bullish gartley or butterfly formation insha Allah.
Here we have a 50MA to push the price line back to bull move.
Regards,
Atif Akbar (MOON333)
I think UKOIL will descend the next months. Here is why:
- It just hit the Global Gann fan and went down right after.
- It just completed the head & shoulders potential. I've moved the starting point to the right shoulder.
- It just made the 1.618 level from the (1) leg (Elliot Wave theory).
- It turn down after hitting the 0.618 fibonacci level from the Gann...
EURAUD / Gartley with Wedge Pattern
Hello! I have for you a very interesting SHORT idea:
Stop on the chart. All details available on the chart, but if you need - please comment and let's discuss.
A bullish gartley setup in the midst of our 2:1 for a double bottom retest that we shared yesterday during our Mid Week Analysis LIVE session on Facebook.
Like our page if you don't wish to miss the next time we head in online.
Exact Entry Stops and Targets will we shared wit my subscribers.
Factom is forming a bullish gartley insha Allah and the price action has entered in buying zone.
The buying zone and sell areas are shown on chart.
Regards,
Atif Akbar (moon333)
There are multiple long reasons between 1.5170 and 1.5150.
If price can get below the B point, harmonic patterns will be completed.
Watching the level to take longs
Good luck
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