Hello Guys, This is the first of the #HELP-THE-NEWBIE-UNDERSTAND Series that i will be posting. A school of pipsology undergrat myself, i will be posting here topics that get me confused a bit, which im sure may confuse you too. The great thing about BP is that we got real great folks here who share a lot so i call on my good friends pipcrawler and the gang here to shed more light on the topics and issues we raise here. if you are a newbie like myself and you have trouble with anything at all, jst send me a private mail and i will put upa similar thread for our guys to help us out. But today we ask for help with the Gartley 222 and the Gartley Animals. if you have not reached this in the school of pipsology, no worries, the Gartley is an advanced chart pattern that our big guys here will tell us all about.
OK, Hello great Pip takers i will be very happy if you can give us newbies a practical explanation of how the Gartley system works. I have gone over it in the school of pipsology but one thing i found out was that as i read other documents (we need to read wide), the fibonacci ratios used differ from person to person. for example, BP has a standard for the AB, the retracement of XA and for all the Gartleys it is 0.618 for Gartley 222, 0.382 or 0.618 for Crab, 0.382 or 0.500 for Bat and 0.786 for Butterfly. However, conversely, right here on BP, there is a thread that says we do not have a correct Gartley unless AB retraces at leas 0.500 of XA from the Thread: 30 Pips A day Keeps the your money at bay by TMoneyBags, Superior Master Contributor and Member .
The above scenario has us newbies confused. Can we please get a definitive and conclusive pronouncement on these ratios for Gartleys from experienced folks here and people who actually trade the Gartley and Harmonic price patterns. Please give us diagrams if you can and be as down to earth as you can with your explanations as most of us are newbies (for example if you are talking about a retracement please tell us what particular line you are retracing like [B]“AB should be 0.382 retracement of XA”[/B] rather than just saying [B]“AB should retrace 0.382”[/B] which sounds vague to me.)
Waiting patiently . . . . .