how consistent do you guys find that gartleys are?
they work well when the fib confluence criteria are met
but most draw them wrongly
Iād have to agree with this statement completely. Iāve seen more Non-Gartleys and Non-Butterflys posted in here then correct ones. Good too see some creative minds tho.
I agree that they work well when the convergence is close but most do not draw them right. They do happen often and in many different time frames so they are out there, its just a matter of finding all the possibilities and then weeding out the ones that arenāt so good.
It happens often where I find the pattern after the reversal has already happened too :rolleyes:
racerdude777
Been scaning throught some charts. Found this two butterflys on the GBP/EUR chart 15 min.
Both have great convergence. But in your opionion wich one would you trade? or both? I have used diffrent Xs so the D in the two charts is diffrent. Wich one is the most valid in your opinion? 
//Chris
Found this on on USD/JPY 15 min with great possible down side. Looked on it on a daily chart for validation and saw a bigger gartley forming. You can se abit of the CD leg in the 15 min pic. You guys thinks it is a good pattern? 
//Chris
Found this on on USD/JPY 15 min with great possible down side. Looked on it on a daily chart for validation and saw a bigger gartley forming. You can se abit of the CD leg in the 15 min pic. You guys thinks it is a good pattern?
This should be one of the best pick for the week. i love this more because of other confluence. it will be better appreaciated on 4hr TF. attached is the chart.
confluences are:
4hr Resistance
intercepted trendline as possible bounce
This is an A+ Bat setup
Hereās one on the EUR/CAD 4 hour.
I donāt really like it, and I probably wonāt take it. Doing a quick check of the daily shows that the pair is in the same zone as itās previous low back in October, so there might be a retracement (possible a large one, lots of pips), or the pair might trend right through. I guess weāll have to see.
Hello.
I Traded Eur/gbp today, at two diffrent retracement lvls. Both valid patterns.
Anyway first trade wasent good, i just enter the trade at the D lvl but i didnt wait for the candle to close after about 30 min my stop was hit and the price continued to the next D lvl.
This time i though i would wait for a bearish candle for me to enter the trade. This was on the 30 min chart. I went to the 15 min chart to look for a bearish candle. But when the candle closed the price had already go down to the 23,6 Fib lvl of the AD. I enterd the trade and price went down about 10 pips more almost to the 38,2 fib lvl and turned again i closed it with a 5 pip lost.
To summery both Ds had nice convergence. First trade i was to hasty and didnt wait for a candle to close. Second trade i was to slow.
My questions is if you guys uses any strategy when the price reaches the D. Do you wait for candles to close, look for bearish/bullish ones. Go to a smaller timeframe or how do you do?
Here is the chart
//Chris
Hey guys, sorry for the delays and not posting but iāve been away traveling for the past four days
I was however, able to make 90 pips during the past London/NY session off of three different pairs (AUDUSD, USDCAD, EURUSD). Iām kickin myself for not being able to share them with you guys but there will be others.
Hope all is going well with everyone
Iām a bit bitter today - over the past couple days Iāve had 3-4 patterns decide to retrace by about 15-20 pips, so Iād move my stop-loss up to break even, the candle would rush back to my break even and then continue on its merry way. I know itāll happen, but this was just ridiculous.
Anyway, I have 3 more patterns - 2 I like, 1 Iām not so sure about:
1: a nice gartley on the USD/JPY. Iām thinking this one will happen later on Thursday, maybe even sometime on Friday. I guess weāll have to see.
2: GBP/JPY. Convergence around 143.4, and 144.5. I guess weāll have to wait and see what time this one develops. Iām probably going to hold out for the 1.618 retracement, though. Better convergence
3: This one I REALLY like. GBP/USD. A really nice gartley at around the 1.58 mark. Perfect convergence. Even more perfect convergence at the 1.272 level, around 1.5865. Again, weāll have to wait and see.
Hopefully these ones donāt decide to trip my break even before taking off. I guess weāll see!
I quote my own post becouse of no replys 
In short my question, when the price reaches the D lvl. Do you jump in directly or do you wait for a candle to form? Whats your entry strategy? 
//Chris
Iāve been setting entries before the pair reaches the convergence. I battled with this question too and couldnāt find any direct answers in the forum about it however it seems from the way he talked about it that TMB set entries prior to the pair reaching the convergence rather than entering some other way.
Iāve been entering this way since I started trading this system and have seen 6%+ gains weekly so I think it works pretty well
Still working on getting to 33% monthly figures like TMB but canāt complain
Hope that helps
Just wanted to comment on something I noticed on the EUR/USD
I remember last week, a number of people following this forum (including myself) trading a convergence of the EUR/USD that ended up falling something like 130+ pips. Last night I traded a convergence I noticed on the EUR/USD which foreshadowed the decline witnessed during the London session. I took profit at 30 pips but the pair ended up retracing something over 200 pips.
For those who have been trading the patterns longer, have you noticed this type of behavior with the EUR/USD? It seems this pair gives fewer solid convergences though when it does, they retrace a considerable amount.
Thanks
Just wanted to say that Iām going to try and keep an updated profile on meetpips.com using this system exclusively. Iāve updated it with all my trades beginning February 1st and so take a look if your interested.
Just search for racerdude777 on the meetpips.com website and my profile is the one with the front of an airplane as the profile pic
Good Luck!!!
Iāve been entering this way since I started trading this system and have seen 6%+ gains weekly so I think it works pretty well
when i saw 6% weekly, i was amazed and the question that came is āwot percentage equity does he stake to get thatā
but when i saw 5% riskā¦ hmm that kinda too much but anyway, am happy u doing good. i risk 1% per equity and am just around 6% trading 3weeks
lol
SwediChris:
I know that when I trade this method, I set a price alert about 20 pips or so away from wherever the convergence is. Once the price alert gets triggered, I look at the price action. If I donāt see the action hesitating, then I donāt take the trade - this has saved me from a few failed Gartleys, especially early on when I was drawing them poorly. If I notice the action is hesitating, I set an entry 3-5 pips below the convergence line (because Iāve seen quite a few retracements that donāt quite reach convergence, and then retrace massively, and I want to collect those pips), and a stop about 10-15 pips above the convergence line. Then I let it sit until my entry is hit. Once the sound plays, I watch my order - once my order reaches 15 pips profit, I move my stop to breakeven. I donāt have a trailing stop available on my software (which drives me NUTS), so I manually trail - every time the action moves 10-15 pips in my direction, I move my stop 10-15 pips up. I definitely donāt get max pips this way (if there are big movements in price action, price can swing much more than my 10-15 pip stops), but once I move the stop up for the first time it makes me feel safer, knowing that Iām guaranteed some pips, and not a breakeven.
