GARTLEY Harmonic Pattern: How does it work?!GARTLEY Harmonic Pattern: How does it work?!
The "Gartley", as its name suggests, was introduced by Henry Mackinley Gartley.
All other harmonic patterns are modifications of the Gartley.
Its construction consists of 5 waves:
XA: This could be any violent movement on the chart and there are no specific requirements for this movement in order to be a Gartley start
AB: This is opposite to the XA movement and it should be about 61.8% of the XA movement.
BC: This price movement should be opposite to the AB movement and it should be 38.2% or 88.6% of the AB movement.
CD: The last price movement is opposite to BC and it should be 127.2% (extension) of CD if BC is 38.2% of BC. If BC is 88.6% of BC, then CD should be 161.8% (extension) of BC.
AD: The overall price movement between A and D should be 78.6% of XA
How to use it
Point D is where you come in, man! It's your entry signal.
-If it's an M pattern, you buy.
-If it's a W, you sell2.
Where to put your STOP LOSS??
-Below or "X" if you are a BUYER.
-Above "X" if you are a SELLER.
These percentages are based on the famous Fibonacci ratios, as mysterious as the pyramids of Egypt!
Ultimately, the Gartley pattern is like a good Cuban cigar: it requires patience and experience to be appreciated at its true value. But once you master it, it can become a powerful tool in your trading arsenal, as effective as a punch from Rocky Balboa!
Gartley
Bullish Gartley + Bullish Pennant Break Combo - XLMHere I have COINBASE:XLMUSD on the Weekly Chart!
After the 2.5 Year long Bullish Gartley Harmonic Pattern had finished forming this July 2024, we see Price has been working into a tight Consolidation Pattern called the Pennant!
This Harmonic Pattern has been quite the Rollercoaster for longtime COINBASE:XLMUSD investors but with the Bullish Rally brought on this week, we see Price Breaking Above the Falling Resistance of this Pennant Pattern to the .10 area!
-If Price can find Support upon retesting the Break of Falling Resistance and stay above, we could see COINBASE:XLMUSD bask in .10 range and Push Higher!!
-RSI is now pushing Above 50 after the period of Consolidation stuck just underneath, indicating Bullish Interest is building
**If Price is unable to sustain these Higher Prices, this current Bullish Break could become False and we could see Price play back down into the Pennant Pattern!
With the Trump/Vance Campaign, we heard a lot of plans and potential being put towards the Cryptocurrency Market and with the win of the Presidency, we could start to see more Interest in this financial area.
Further updates will be on Daily Chart!
LTCUSD BUY 65.0On the 4-hour chart, LTCUSD has a chance to form a bullish Gartley pattern in the short term. Currently, we can pay attention to the support near 65.0. If it falls back and stabilizes, we can pay attention to buying opportunities. The upward target is around 71.0. If the price falls below the support near 62.0, the pattern will be declared a failure.
EURUSD BUYEURUSD had a rejection from support level and we have witnessed a double bottom on support level and also seen HH and HL pattern on H4 to H1 time frame also another confluence for being bullish over this moment of time is we have seen a fibonachi retracement of bearish move completed with 68% of retracement we are bearish over the pair from higher TF prespective but bearish on lower ones
26/10/2024 - XAUUSD - Bearish Gartley PatternAs of October 26th, 2024, XAU/USD (Gold) has formed a bearish Gartley pattern, suggesting potential downward movement. Here’s the trade plan:
Trade Details:
Option 1:
Entry: Sell in the Potential Reversal Zone (PRZ)
Stop Loss: 2759.50
Option 2:
Entry: Sell Stop at 2740
Stop Loss: Above the defined last high (LH)
Reason for Trade:
The bearish Gartley pattern suggests a possible reversal to the downside, with opportunities to enter at the PRZ or after a breakout below the defined LH for added confirmation.
Disclaimer: This is not trading advice—it's for educational purposes only. Please conduct your own research before making any trading decisions.
BEARISH PRESSURE ON BTC to 56,282.5 priceGood afternoon traders,
Trust you are doing great.
Please find below my outlook on this cryptocurrency, BTCUSD.
Type: Emerging Bullish Gartley
Completion Point (D):
Projected at approximately 56,282.5
Consider short positions as the pattern approaches this level.
Potential Reversal Zone (PRZ):
Range: 56,282.50 to 56,036.69
I expect to close short trades within this zone, anticipating a bullish reversal.
Target Levels:
These are my potential targets
T1: 57,487
T2: 56,935
T3: 56,282.50
These are key Fibonacci levels for exiting trades as the price moves downwards.
Entry Criteria:
Though the trade is currently in play, as such this is a late analysis. But here was my thought line before the trade was triggered. I allowed the 60,298 price to be broken just to allow the market to show bearish commitment before entering short trades.
Stop loss:
The trade will be invalidate if price goes above leg A. However, because the trade is aggressively towards the D leg, 61,355 would be a decent SL position.
Cheers and happy trading!
SMCI: Stock Split with Chart UpdateSMCI had a stock split, so I have to update this chart.
Light Fundamental:
It is a stock called SMCI (or Super Mico Computer). It is a US company that makes super powerful computers and servers. The world needs servers to help run things like big websites, apps, and AI. The stock price fell by half. So, it is selling at a discount for what it is really worth. So, it is a good chance to buy it.
Technicals:
Gartley-like pattern
diagonal support
engulfing bullish pattern with d3 volume and volume confirmation
a-b-c completion at a 78.2% fib pullback
Entry is above the weekly engulfing bullish candle at 475.44.
Target is, tentatively, 1500.
Note: preparing for either an election rally or a Christmas rally in stocks
BITCOIN - Trading Consolidative Markets Using Harmonic PatternsBitcoin, like many other markets has been stuck in a sideways shuffle as of late which can be very frustrating for most traders, since most traders tend to look for continuation type of trading opportunities.
For those looking for an alternative way to trade, here's a look at how I use advanced (harmonic) patterns, specifically the Gartley patter, to take advantage of times when the market is consolidating or moving sideways.
Hope you enjoyed the video and feel free to leave any questions or comments below.
Akil
Buyers are looking for buy opportunityprilika za kupnju nakon pada btcusd para na 60 000 popularni gartley uzorak pokazuje da investitori ciljaju take profit nivo od 115 000.. Buyers are looking for buy opportunity as btc dropped to 60 k and targeting famous gartley pattern at 115'000 as take profit area!!!
Buyers are looking for buy opportunityprilika za kupnju nakon pada btcusd para na 60 000 popularni gartley uzorak pokazuje da investitori ciljaju take profit nivo od 115 000.. Buyers are looking for buy opportunity as btc dropped to 60 k and targeting famous gartley pattern at 115'000 as take profit area!!!
Bearish gartley to 46k !!!before we get the halving effects of btc it is fundamentaly correct to expect the retracement of the previous long moves on the daily and weekly scale.. It could be in the form of a flash crash or in the form.of a selloff.. The gartley level.is.46 k where the first larger suport lays!!!
LTCUSD Bearish GartleyOn the daily chart, LTCUSD formed a bearish Gartley pattern. At present, we can pay attention to the resistance near 71.5. If it rebounds and does not break, we can consider continuing to short. The downside target is around 62.0. After breaking it, the support below is around 59.0.
The reduction target is 5.5-6$According to the Butterfly pattern, the Fibo perfectly converges the decline on the target of $ 5.5-$6. The timing is not clear when we will get there, but according to the schedule of the decline of #HSI1, we should reach it by October 2023, there will be an excellent point for going to long to new heights.
The reduction target is $70-73According to the Butterfly pattern, the Fibo perfectly converges the decline to the target of $ 70-73. The timing is not clear when we will get there, but according to the schedule of the decline of #HSI1, we should reach it by October 2023, there will be an excellent point for going to long to new heights.
TSLA four-hour chart shows a potential Gartley harmonic.NASDAQ:TSLA is forming a potential bearish Gartley on the four-hour chart, which would result in bullish price action on the C to D leg, as long as point C on the chart holds. Point C on the chart also corresponds to the daily 200 SMA, and is right above the psychological $200 level, which adds confluence to the long entry at $202.50.