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.
Priceline of leading cryptocurrency Bitcoin / US Dollar has formed a gartley pattern and almost entered in potential reversal zone.
We have strong supports of 100, 200 and 50 moving averages beneath the potential reversal zone.
Volume profile is showing weak interest of cryptocurrency trading within PRZ area.
I have defined targets using Fibonacci sequence:
Buy...
By the grace of Allah the most high my previous chart of RENBTC:
Gave more than 171% profit.
Now again the priceline of REN / Bitcoin cryptocurrency has formed a bullish gartley pattern.
We have a 50MA support within the potential reversal zone and the price action...
This idea gets invalidated very quickly if we lose the C position and go lower but I think traps are being laid for both bears and bulls with a bearish gartley potentially taking us up to 12200 areas hurting many bears on the way up before euphoric bulls get heavily dumped on all the way down to 8500.
As I said, this idea gets invalidated quickly but if we start...
Priceline of BitTorrent (BTT) / TetherUS has formed a bullish BAT and entered in potential reversal zone.
I have used Fibonacci sequence to set the targets as below:
Buy between: 0.0008680 to 0.0007410
Sell between: 0.0011709 to 0.0016238
Regards,
Atif Akbar (moon333)
I think all exchanges will set the price before BINANCE USA Entry
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Sosyal medyadan da takip edebilirsiniz. / Lutfen begen butonuna basiniz ve takip ediniz.
COINBASE:LTCBTC
Over six months has completed Gartley Pattern. The downtrend from last one and half month has been stablized quite a bit in Blue ReversalZone. Stablization of Sharp price action gives a signal to validate Gartley pattern. Strong support for Gartley lies around 0.009100.
If the price action continues to be at support level then profit making...
Gartley pattern on USDCAD, SHORT opportunity
Let me know how you go!!
!!!DISCLAIMER!!!
Trading Foreign Exchange Currency Pairs (FX/Forex) and/or Contracts For Difference (CFDs) on margin carries a high level of risk to your capital. These derivatives may not be suitable for all investors. The information contained here is general in nature, provided without...
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