Gartley222
06-30-2006, 07:20 AM
Hi all...
Rules For Buys(Shorts Are Reversed):
1.Alow point"X" is determined on the chart.X will be the lowest in this entire pattern.if price falls below X the bulish Gartley will be void.
2.From point X a rally occurs up to swing high point we will label A.this swing high is the highest high in the entire pattern.if price goes above A befor pattern completion,the bulish Gartley will be invalid.
3.Now the upper and lower swing points of the pattern are established,we are looking for a move down from point A to low point labeled B.this will labeled swing A:B
B should be between the .382 and .618 retracement of swing X:A
4.A pullback(retracement)in the oposite direction of swing A:B is then made up to point C. this swing will be labeled B:C.point C ideally falls between the .38 and .76 retracement of swing A:B.the only hard requirement is that point C dose not exceed point A.
5.once point C is stablished,price again reverses to the downside.price must now trade below point B and down between the .618 to .786 retracement of swing X:A.
once price reaches this level,a bulish Gartely has ben completed,and we we look for opportunities for buy.
6.in this case,we will inter above the previous days'high.
7.the initial stop will be below the support zone (PRZ)
8.The first objective is the .618 retraccment of swing CD.
9.The final objective is the .618 retracment of swing AD.
Rules For Buys(Shorts Are Reversed):
1.Alow point"X" is determined on the chart.X will be the lowest in this entire pattern.if price falls below X the bulish Gartley will be void.
2.From point X a rally occurs up to swing high point we will label A.this swing high is the highest high in the entire pattern.if price goes above A befor pattern completion,the bulish Gartley will be invalid.
3.Now the upper and lower swing points of the pattern are established,we are looking for a move down from point A to low point labeled B.this will labeled swing A:B
B should be between the .382 and .618 retracement of swing X:A
4.A pullback(retracement)in the oposite direction of swing A:B is then made up to point C. this swing will be labeled B:C.point C ideally falls between the .38 and .76 retracement of swing A:B.the only hard requirement is that point C dose not exceed point A.
5.once point C is stablished,price again reverses to the downside.price must now trade below point B and down between the .618 to .786 retracement of swing X:A.
once price reaches this level,a bulish Gartely has ben completed,and we we look for opportunities for buy.
6.in this case,we will inter above the previous days'high.
7.the initial stop will be below the support zone (PRZ)
8.The first objective is the .618 retraccment of swing CD.
9.The final objective is the .618 retracment of swing AD.