GARTLEY Harmonic Pattern: How does it work?!

เมื่อวานซืน

GARTLEY Harmonic Pattern: How does it work?!

The "Gartley", as its name suggests, was introduced by Henry Mackinley Gartley.

All other harmonic patterns are modifications of the Gartley.

Its construction consists of 5 waves:

XA: This could be any violent movement on the chart and there are no specific requirements for this movement in order to be a Gartley start

AB: This is opposite to the XA movement and it should be about 61.8% of the XA movement.

BC: This price movement should be opposite to the AB movement and it should be 38.2% or 88.6% of the AB movement.

CD: The last price movement is opposite to BC and it should be 127.2% (extension) of CD if BC is 38.2% of BC. If BC is 88.6% of BC, then CD should be 161.8% (extension) of BC.

AD: The overall price movement between A and D should be 78.6% of XA

How to use it
Point D is where you come in, man! It's your entry signal.

-If it's an M pattern, you buy.

-If it's a W, you sell2.

Where to put your STOP LOSS??
-Below or "X" if you are a BUYER.

-Above "X" if you are a SELLER.

These percentages are based on the famous Fibonacci ratios, as mysterious as the pyramids of Egypt!

Ultimately, the Gartley pattern is like a good Cuban cigar: it requires patience and experience to be appreciated at its true value. But once you master it, it can become a powerful tool in your trading arsenal, as effective as a punch from Rocky Balboa!

เมื่อวานซืน

บันทึกช่วยจำ