Harmonic Patterns - Gartley - Approach 01
Updated
- AB has to touch the 0.618 of XA, but cannot touch to the 0.786 of XA
- BC has to touch the 0.618 of AB, but cannot go above the A
There are a few ways to look for D. In this approach, it is:
- Put a Fib Retracement from X to B.
- Put a Trend-Based Fib Retracement from A to B to A
- If the 0.718 and 1.272 are close to each other choose, 0.718
- Else, choose the 1.272
Targets
- the 0.382 or the 0.618 of Fib Retracement from A to D.
Stop
- X or 10 pips below
- BC has to touch the 0.618 of AB, but cannot go above the A
There are a few ways to look for D. In this approach, it is:
- Put a Fib Retracement from X to B.
- Put a Trend-Based Fib Retracement from A to B to A
- If the 0.718 and 1.272 are close to each other choose, 0.718
- Else, choose the 1.272
Targets
- the 0.382 or the 0.618 of Fib Retracement from A to D.
Stop
- X or 10 pips below
Note
There is a typo.The line
"Put a Fib Retracement from X to B."
should be as following:
"Put a Fib Retracement from X to A."
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