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.
B point is a little high and USD has been a little bit hectic.
PA has pierced the zone twice but hasn't close inside... I'll wait for a return and if it happens see how it goes.
Numbers look like:
Entry: 0.99783
SL: 1.0010 (very conservative, there is a Resistance zone before SL, so you can choose a lower one for a better RR ratio)
TP1: 0.99342 (0.382 ...
During elliot wave WABIBTC formatted a perfect gartley pattern and we can see even after the gartley and correction waves of elliot the market did not get tired and start another bearish gartley pattern sofar the market was taking some rest in bear momentum and formatted B to C leg of next gartley now the C to D leg is seems to started soon insha ...
After completion of bullish gartley now the price action is in formation of bearish shark and now almost in buying zone insha Allah. The buying and sell areas are defined on chart.
Regards,
Atif Akbar
If sold this pair then you have to do nothing.
Just close half position and add after the breakout.
If not in trade already.
Wait for breakout on either side
Hi I am trying to take followup my every idea which I have published if there any change occurs in asset's movement or pattern.
I would be more than happy if any one of my followers would reminds me in case of I am not taking a follow up of any idea.
Here I published the last idea of XLMBTC by back plan as the previous short plan was accurate by the grace of all ...
INSBTC is completing continuously second gartley insha Allah, plz wait for buying until the price action enters in buying zone.
Best of luck and regards,
Atif Akbar (moon333)
Hey traders,
On the EURUSD we have a potential harmonic pattern. It may already have been completed though. However, I want to wait until it gets closer to the 38.2% Fib retracement for a better risk to reward ratio.
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 ...
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