What do you all think? Do we have a Gartley setup forming here or am I not quite getting the whole idea of Harmonic Price Patterns yet?
Le’me know! 
C’mon guys!
Help a brother out!
Sharp.
I am not big on harmonic price patterns but IMO it looks good. Honestly just like everything else you will not know untill it forms. But your trade idea seems good
Cheers man.
Price hit the .886 of AB then reversed, sparking what I thought might be the CD leg, it has since hit the 50% level however and returned back to the 88.6% Hopefully well see another reversal and then bag some pips if/when it hits D!
:33:
As you can, price hit the .382 level of the BC retracement, and has since returned to the .886 AB Retracement level.
Looks like a double top might have formed however so there is still hope for a CD leg yet! Also the MACD appears to be decreasing in size…
(I’m using a netbook so it’s a little hard to tell, quite inconvenient for trading really…).
Sharp.
I hope that is not the chart you use to trade with!
I got practically nothing on my charts save for a few horizontal lines and it gives me enough headaches!
I left the fib levels on to show how I am seeing (potentially) a Gartley pattern.
If you referring to the grid pattern in the background, I use grid paper at work everyday. I prefer it.
Price has broken through the 100% AB Retracement, so looks like the formation failed.
I’ll catch one one-day!!!
Stay Sharp!
there are a lot of “harmonic patterns” in the making all over the market, they only make sense to see once they have completed.
For a perfect Gartley, the AB leg has to retrace 61.8 of X, from what i see on your charts, it looks like it has retrace 78.6 thereby invalidating the pattern.
If AB were to retrace 78.6 of X, you would be looking for a butterfly pattern.
Google scott m carney and his site would show what are the ratios required for different patterns.
In my opinion, harmonic patterns are simply indicators where price may bounce off.
I recommend not using them in isolation but rather with support resistance, the trend etc.