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.
NZDUSD has been on a downtrend. There is a bearish cypher with D completion at 0.68135 (78.6 of XC). Upon confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss has the same number of pips as TP1 by default. The trade details are as follows:
Trade Setup: Bearish ...
USDCHF has been on a recent uptrend. There is a possible bullish Gartley. Upon D completion at 0.99028 (78.6 of XA) and confirmation of the bullish bias, I will go long. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as ...
USDCAD has been on a recent uptrend. There is a possible bearish Gartley. Upon D completion at 1.33172 (78.6 of XA) and confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as ...
USDJPY has been on an uptrend. There is a bearish Gartley with D completion at 112.574 (78.6 of XA). The bearish bias is based on a bearish engulfing candlestick on D1. Likewise, there is a possible break of the trendline support on H4 for additional confirmation. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. ...
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
Pending Bullish Gartley pattern
Entry: At completion of D 0.786 fib of XA ( 1.15790 )
Stoploss: Below X ( 1.15230 )
Tp: 1.16600 / 1.17000
If price reaches the 1rst tp we move stoploss
at breakeven to second position
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.
There is a clear gartley formation but still should confirm and gets a little higher in order to enter Long.
EMA 200 is showing as uptrend which is clear but if you place EMA's 12 and 27 is still waiting to decide the direction. Go Long if it breaks the gartley or wait for a new formation or entry signal.
I think DXY is in the bullish channel and now price on the bottom of the channel and this tell us we should buy USD in USD pairs
also, that flexible Gartley pattern is good for taking long positions.
this analysis just my view .
Litecoin is in the largest potential harmonic reversal zone of its 7 year history, with the pattern covering a period of 1.5 years. There's a strong probability for a market-wide reversal beginning now if this potential harmonic reversal zone is valid, and we may head to all time highs due to the sheer size of this harmonic and the correlation to other charts, the ...
Hey Traders!
Can you believe that we're more than halfway through another trading year already. Sheesh, time flies. Anyway, I hope that it went well for you. If so do more of what you've been doing and don't you dare settle. If not, then it's time to get your act together and have a strong second half.
Here on the EURUSD we have two potential advanced patterns ...
There is a debate among traders about harmonic patterns, and if they bring the desired results. I believe that most of the systems and strategies work, but only if you know how to use them. Usually traders who trade the harmonic pattens, just open a chart and try to indetify a pattern and as soon as it completes they jump into the trade. In my eyes this is a wrong ...
