I’ve began using Tmoneybags video to try and plan gartley’s and help me identify them. I used your example and the method he uses. Something doesn’t quite match up, would you mind explaining what I’m missing?
though I’m not new to trading, but very new to those patterns I hope that I can contribute and learn. Things are looking very straightforward but I strictly agree with TMB who said, that looking to charts and seeing those hidden “animals” isn’t easy at all. So I post a quick one in order to get your opinion on that.
Here is a gartley which I unfortunately saw too late, but it serves good for learning and discussing.
Do you agree with my drawing? Feel free to comment on it. Thank you!
Hi Nemo,
I got the same pattern as you! The only difference is that mine is drawn on a Daily chart as opposed to a H4. I’m no expert so I can’t really confirm anything for you as of now. But it gives me confidence that we both got the same pattern. TMoneyBags should be back before this pattern is even close to completion so maybe he’ll be able to help us out lol
On my chart the C leg is not retracing deeply enough for it to be a Gartley. I spent a month testing several harmonic patterns over a couple of years, and generally I think that trading them can be profitable. For this type of trade, it helps to have a specific set of rules, so there really isn’t a question about the patterns validity, just discussing whether or not it worked.
I’m in EUR/AUD on H4 with a "not bad"ish … Sorry writing from Phone. Will try to put the Chart in here …
Up with 10 Pips.
Target 1 on .500 Level of AD, at 1.5078.
Target 2 I set 10 Pips above .382 of XA, at 1.4985. Because of the convergence of both of the .382 Levels I expect it to be a significant support.