The level X isn’t exactly 78.6 from D but it’s kind of close you know i suppose it’s really hard to get the exact lvl and also they have so many lvls not just 78.6 from the harmonic trading book seems like they can create any type of fib lvl and pattern that they want.
Anyway here’s my gartley pattern what do you think of it.
Does it look ok?
I think its bullish not bearish. Cant make out the pair, but if B is hitting 78.6 of XA, then it is more likely to be a butterfly, and there are some interesting buy possibilities around 127ish of xa which is an extension pattern. Also on gartleys, the 786 is meant to be confluence with 127% of ab. translated, it looks like there is a good buy in there somewhere.
thanks yeah it’s bullish and i realised i have not waited till the move to D before drawing the pattern which means i am predicting where D is moving and you’re supposed to trade only after D right?
It doesn’t have to be the exact lvl right? Just around those lvls.
Am i now forcing the pattern?
The fib lvls were not really there especially C from A and also D is much further than 161 from X
I strongly recommend reading Scott Carney’s books Harmonic Trading Vol 1 and 2. If you’re going to trade patterns, Gartley included, these books are well worth the time investment.
Here i have a bearish butterfly but i have a few problems.
This is the USDSGD pair on the daily chart.
the distance between A and B is very huge from C and D you can see that D far overshoots the distance between A and B
The fib lvls are ok though B is 61.8 from X and A. C is 78.6 from A and B. D is around 1.27 from X but some trading books say it should be 1.68 from X?
The only problem is D is too far from C and not the same distance as A is from B.
is this a legit bearish butterfly pattern? I mean i just added in the stoch not shown in the picture and it shows it to be on the overbought lvls.
Guys pls help me out on the latest one the USDSGD.
