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.
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Bearish Gartley pattern completed, coupled with the extreme culmination of fundamental, technical and financial astrological analysis (all of the big 3) in the DXY (dollar index) - strong probability of a violent drive lower.
Bearish Gartley (Blue) and Bearish Crab (Orange)
Both RSI and OBV seem to be heading into resistance. RSI currently at 65 so not a whole lot of room to go up. Looking for OBV/RSI to break below trendlines.
Red box is important order block on the 4H in this price range, 132.2 makes sense for SL.
1W cloud just turned bearish and USDJPY has formed bearish ...
Backtesting of the idea Harmonic Patterns - Gartley - Approach-01/.
https://www.tradingview.com/chart/BTCUSDT/5LmMECNq-Harmonic-Patterns-Gartley-Approach-01/
Backtesting of the idea Harmonic Patterns - Gartley - Approach-01.
https://www.tradingview.com/chart/BTCUSDT/5LmMECNq-Harmonic-Patterns-Gartley-Approach-01/
here is a small summary on how eur/usd should have been traded last week , it can be termed as a perfect gartley pattern .
So people wondering what a gartley pattern is, it is one of the advanced trading patterns that uses Fibonacci ratios to determine trade entry areas.
How it works its pretty simple to observe and with experience very easy to see an apply ...
EURUSD 4H Gartley Completed
and price put a doulbe top
this means 1.1780 is the recent turning point.
We can sell EURUSD Now
SL: 1.1770
AIM for 1.1540 and even lower
Possible bullish trade in AUD/CAD. Nice and clear 5 impulsive waves and 3 corrective waves, according Elliot theory. In addition, we have clear bullish Gartley pattern. Fundamentals supports the idea.
Entry on market, stop loss around 0.9540, target 1.0100 or above.
We have the EURCAD on a 15M TF presenting an excellent harmonic structure, a BEARISH GARTELY.
Looking at the TDI, we see RSI DIVERGENCE.
Furthermore, my entry was based of the BEARISH ENGULFING candlestick pattern.
