Hi There, I just started a new post “KISS Principle Trading” and in it I am putting my live trades (as much as possible) and its results as we go along. However, a few of our fellow traders mentioned that they found the Gartley a complicated method. This is why I decided to start this new topic where I can show in ONE page how to trade this pattern. I called it “The Novice Version”. Here I will also add examples as well as a Video in the future.
For now, I will list the key tools we need and place the one page document.
TOOLS:
- Drawing Trend Lines & Identifying a Trend
- Japanese Candlestick patterns
- RSI Divergence
- Highs & Lows
- Fibonacci retracements/extensions
I am not here to train on any of the above, If you are not verse on all of the above 5 tools then I suggest that this is not the post for you. On the other hand however, I can say that most of my profits come from trading this pattern and it is VERY EASY…at least for me.
I am currently working on FOCUSING my trading only in two type of entries:
- The Gartley
- Fibonnaci retracements in the direction of the current trend
Anything else, double tops, double bottoms, RSI divergence against the trend, Wedges, Flags, etc are to be avoided. So I am making my goal this year to limit my trading to these two trading methods.
Happy Trading
PS: I tried uploading the file but it didnt let me coz this is a new topic. So I will wait to do it in the next posts later on.