3/31/2021 How To Draw Bullish Gartley|Bearish Gartley Harmonic Pattern Forex Trading Strategy - Forex Pasha

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How To Draw Bullish Gartley|Bearish Gartley
Harmonic Pattern Forex Trading Strategy
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This is probably the most famous harmonic pattern in the business for Meta
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community, Gartley. Although many people have written articles on this style,
the extent of the Gartley pattern began From false to straight forward mis
95%Profi
information. HM Gartley first outlined its basic structure This sample is Forex Tra
Success
published in the book Profit on the Stock Market (Lambert-Gan Publishing,
Trading
1935).Contrary to what many have claimed, Gartley was not responsible for Beginners
assigning Fibonacci ratio in this price structure. In fact, stock market profits are
not mentioned Everything about the Fibonacci ratio throughout the book. I Best Har
Indicato
know because I own this book. It's not inside there. I believe it is important to Downloa
correct these prevailing misconceptions about this style. It is important to note 2019

that others have assigned Fibonacci's proportionality ratio Gartley Pattern

Free Insi
Framework. However, they have used a major aspect of Indicato
Fibonacci Numbers on the D points necessarily label any AB = CD pattern as Metatrad
(MT4/MT
Gartley. This The interpretation assumes that any reversal is true if it is

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3/31/2021 How To Draw Bullish Gartley|Bearish Gartley Harmonic Pattern Forex Trading Strategy - Forex Pasha
completed at 0.618 or 0.786 Regardless of the overall structural alignment. This inside bar indicator
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has created a lot of confusion among the people Challenged the technical class
and the credibility of this style. This conflict was one of the first challenges I How to T
encountered when I initially corrected it The pattern I discussed with many Divergen
Divergen
people was that "not all Gartley models are the same." If anything, Exact in Forex
details of the Fibonacci ratio are required to validate the highly efficient Gartley Download MetaTrade

pattern Structure. Although the general structure has been described before, it
Intraday
was not until then Harmonic Trader was released in 1999 to adhere to its Average
specific recovery rules The B point at 0.618 and the D point at 0.786 were to be Profitabl
Trading
assigned for the pattern. This alignment It has now become a standard in the
Moving Average cros
technical community and is now commonly known as strategy
Gartley pattern The exact 0.618B point requirement was the only condition in
Forex Ch
this interpretation
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The structure harmonic trader also outlines the importance of AB = CD pattern Forex Fra
and BC Projection rules that require specific conditions to validate the System|S
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structure. There are a number of other elements in Gartley's Possible
Ultimate Zone (PRZ) Distinguish texture from other patterns. The Lucky St
pattern has to be one more Equivalent AB = CD sample combined with 0.786 Most Pro
Expert A
XA retracement in the same area. I In fact, the equivalent AB = CD pattern Trading
completion and 0.786 retracement are minimal Requirements for a Correct
Gartley Often, 0.786 overlaps AB = CD in XA retracement PRZ In these cases,
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this conversion usually represents the defining level of PRZ. BC projection is
another specific condition for fixing the structure, and it shouldn't Exceed EXPERT ADVISORS
1.618. Although the BC projection is already a less important number in the
FOREX ARTICLES FO
PRZ In the other models, the range of 1.618 is helpful in differentiating the
FOREX INDICATOR
Gartley structure. Usually, one BC An increase of more than 1.618 is found in
the bat structure. Regardless of the required number In the PRZ, Gartley must FOREX STRATEGY

own a 0.618B point retracement to validate it. The structure is, in fact, all
FOREX TRADING COUR
exactly the point B needs to align in the Gartley pattern
INDICATOR
Synchronization patterns to explain the best business opportunities.
TOP 10 BEST SECRET R
Gartley pattern elements:

Exact 61.8% B point retracement of X XA leg.

BC projection should not exceed 1.618.
iv The equivalent AB = CD pattern is the most common.
78 0.786 XA retracement.
C point in the range of 0.3 0.382 – .0.886 retracement.
It has been my experience that there is nothing less than the ideal
Fibonacci alignment for this Gartley usually results in "deep"
correctional structures, which favor the completion of the beat pattern.
Although this strict use of Gartley alignment reduces the number of patterns
Match, it is important to identify the correct patterns and effectively distinguish
them from the two.
Structures.It is important to note that the Gartley pattern is simply a type that
has an "M" or "W" elite view. Although the correction pattern is consistent
across structures, the bat pattern is quite distinct,
Using other rules to specify setup. Such an explanation of the price structure,
through quantity
Fibonacci calculation is essential in harmonic trading. In terms of the
Gartley pattern, The most accurate reversible setup is the one offered in the
Harmonic Trader. As with all harmonic patterns, Fibonacci points are defined in
each structure. Very important in determining legitimate business opportunities.
The Gartley pattern gives an example This kind of specification is
needed, because in this structure it is just like a bad pattern Full. On a
final note about harmonic patterns, the harmonic trader outlined many
Unprecedented strategies that distinguish patterns based on a specific price

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point Alignment. This distinction increased the effectiveness and worked to

reduce it Confusion in the overall use of these methods. Again, I have to
emphasize this others have utilized a variety of Fibonacci numbers in their
analysis of price patterns, the exact specification of price structures, quantified
by Fibonacci calculations, is what separates Harmonic Trading from the rest.

The Bullish Gartley

A distinct AB=CD and a 0.786 retracement define the Potential Reversal

Zone (PRZ) in the Bullish Gartley (see Figure 6.1). However, these
conditions are valid only with a 0.618 B point retracement of the XA leg. BC
projection should complement other numbers in the PRZ, as 1.13, 1.27, 1.41,
Or 1.618 extension must be in the same area. It is important to note that
Gartley Does not use any BC projection that is greater than 1.618. Any type of
BC projection that is high An over 1.618 is usually found in the structure of the
bat. Once again, it is important to identify "0.382; 0.886" can be any harmonic
trading in the Fibonacci retracement range for C Point The ratio that falls
between these two constraints. Therefore, the C point can be 0.382, 0.50,
0.618, 0.707, 0.786, or 0.886.
This first example of a weekly chart of Newmont Mining (NEM) illustrates
the ideal Bullish Gartley elements. Starting with a precise 0.618 B point
alignment to validate the structure, the distinct AB=CD pattern completion
point at 19.30 converged closely with the 0.786 XA retracement at 19.35. The
1.41 BC projection complemented this area at 18.70.
Although this area was exceeded slightly, the pattern clearly indicated harmonic
support around the $19 level.

The chart in Figure of the price action in the PRZ shows an ideal reversal after
the 1.41 BC projection was tested. The interesting aspect of this reversal is the
stabilization that occurred after the 0.786 and the AB=CD completion points

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were tested. Although Newmont Mining required several weeks of consolidation

before reversing, the Bullish Gartley accurately identified critical support for the
stock. Chapter 6 The Gartley Pattern.

Although this concept may sound repetitive, it is important to emphasize the

difference of a Gartley structure versus a Bat pattern. The most important
element that differentiates this 5-point corrective structure from a Bat pattern
is the B point retracement at the 0.618 level of the XA leg. If this was a Bat
structure—defined by a 0.50 B point retracement or less, the corresponding BC
projection and Alternate 1.27 AB=CD pattern would have calculated a lower
PRZ, resulting in a missed trade.
Bearish Gartley Pattern

The bearish Gartley structure is mainly identified by XA's 0.618B point

retracement Leg Other elements of the pattern - AB = CD, BC projection, and
0.786 retracement - PRZ should be closer to each other for definition.

This first example of a Bearish Gartley was incredibly significant for the
financial markets. The Standard and Poor’s 500 Index completed this
Bearish Gartley on the weekly chart at the index’s all-time high,
marking the beginning of the three-year bear market. The distinct AB=CD
pattern completion point and the 0.786 XA retracement were complemented by
the 1.27 BC projection, defining the area just above the 1500 level as critical
resistance (see Figure 6.9). Although the price action exceeded the top end of
the range, the reversal occurred the week after the price action tested the
entire range of the PRZ. The chart in Figure 6.10 shows an ideal reversal after
this complete test. The action after the entire PRZ was tested exemplifies an
ideal reversal of a valid pattern. In this case, the S&P 500 stalled at this

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3/31/2021 How To Draw Bullish Gartley|Bearish Gartley Harmonic Pattern Forex Trading Strategy - Forex Pasha

harmonic resistance and continued lower in the weeks following the reversal.

Perfect Gartley

Perfect Gartley should have the following elements:

1. Exact 0.618 B point retracement of XA leg.
2. Exact 0.786 D point retracement of XA leg in PRZ.
3. Projection must be 1.618 BC
4. Separate balance and time with equal and perfect AB = CD (0.618 /
1.618)
Duration for each leg.
5. C point on 0.618 retretment.
Although the ideal Gartley is well appreciated, a perfect Gartley uses the perfect
AB = CD.Pattern (0.618 / 1.618) texture. Absolute AB = CD is defined primarily
by the point C The retracement should be 0.618 of the leg respectively. 0.618 C
point retracement set 1.618 BC Offer for obvious reasons, 0.618 and 1.618 AB
= CD sample Represents the highest harmony ratio that is directly derived from
the Fibonacci sequence. The perfect Gartley should recover the precise B point.
Although the ideal Gartley The structure allows only a slight change of 0.618 B
point retracement, a perfect Gartley Should own a precise retracement. Further,
the C point should be at 0.618 retracement. Due to the need for AB = CD to
validate this structure, C is the point Another precise proportion that
distinguishes the sample. Another aspect of the perfect Gartley Consider the
general balance and timing of the pattern structure, where each leg occurs
Perfectly equal in duration.
The Perfect Bullish Gartley

The perfect Bullish Gartley pattern is primarily defined by an exact

0.618 retracement at the B point (see Figure 6.17). Although the ideal

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price action should test the entire range of the Potential Reversal Zone
(PRZ), the minimum AB=CD and the 0.786 XA leg still represent the most
important numbers in the completion pattern. The structure should be distinct
and possess ideal symmetry. In addition, the AB=CD should be a perfect
bullish structure with 0.618 and 1.618 ratios at the respective points. The
combination of these elements define a remarkably ideal setup with a
particularly critical PRZ. Although these structures are rare, they represent the
best alignment of all the Gartley variations.
The Perfect Bearish Gartley

The perfect Bearish Gartley pattern is defined by an exact 0.618

retracement at the B point(see Figure 6.20). In addition, a perfect Bearish
AB=CD and the 0.786 XA leg must be complemented by a 1.618 BC projection.
Gartley Pattern Summary

The Gartley pattern is a controversial pattern. Despite various

interpretations within Great Gartley Conflict, Extreme Harmonic Gartley
Patterns Have Different Features The features were originally presented at
"Harmonic" at each of the points contained within the structural principles
Trader. The 0.618B point retracement is important in defining a valid Gartley
structure. Although 0.786 is an important element of the XA retracement
structure, which is equal to AB = CD The potential alt-zone (PRZ) model is a
very important completion point. Furthermore, AB = CD completion is a
minimum required for all valid.
Gartley Pattern
1. Exact 0.618 B point retracement of XA leg.
2. Exact 0.786 D point retracement of XA leg in PRZ.
3. Offer 1.27 or 1.618 BC.
4. Equivalent AB = CD.
5. C point retracement can vary from 0.382 to 0.886.
These specific terms have to be included in order to define the best harmonic in
the Gartley pattern Structures. Although Gartley may resemble a bat, the
Fibonacci ratio was used in the setup. Are unique to this style. In addition, the
sample should be completely different and ideal.

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