Is this a Gartley?

[tradergirl989]

hi Greg,

This is not the best example because this bearish gartely happened at the top of the up move. So looking at the chart the bigger move is up and then there was a bearish gartely to end that move then start the re trace of the up move. There are two ways to get the targets #1. Draw your extensions from X-A and exit at the 1.270 or the 1.618 of X-A. #2. in this example the true move is up so you want to know where the re trace will most likely end which is the .50% .618 % of the bigger move up. Using the extensions from X-A will give you 2 area then the re trace of the up move will also give you 2 areas. Look for a cluster of fibs and exit there. No matter what i would be exiting at the ,618 of the bigger up move.

The bigger up move is market 1-2. So this example might be a little confusing because it was a gartley to start the correction of the bigger up move. But i hop it helps.

TG989

 

[da-net]

this is to help others do personal research

knowing nothing about Gartley's , but having watched many videos by Carolyn Boroden (fibonacciqueen.com) about two step patterns and never understanding their significance or ways in which to trade them...then this thread and the help that Tradergirl was offering presented an opportunity for further study and understanding

Mark Braun (mjbraun.net) has a webinar available on his site that teaches the rules (confirmation & entry) of Gartley patterns. An email from Mark confirmed that this should be traded in trends, not consolidating mkts.

Currently Hubert Senters (tradethemarkets.com) is sending out video emails about how he trades "ambush zones" which fits in perfectly with the patterns for more agressive trend & counter trend trading, but still not for consolidating mkts

 

[TraderGreg]

Quote from da-net:

this is to help others do personal research

knowing nothing about Gartley's , but having watched many videos by Carolyn Boroden (fibonacciqueen.com) about two step patterns and never understanding their significance or ways in which to trade them...then this thread and the help that Tradergirl was offering presented an opportunity for further study and understanding

Mark Braun (mjbraun.net) has a webinar available on his site that teaches the rules (confirmation & entry) of Gartley patterns. An email from Mark confirmed that this should be traded in trends, not consolidating mkts.

Currently Hubert Senters (tradethemarkets.com) is sending out video emails about how he trades "ambush zones" which fits in perfectly with the patterns for more agressive trend & counter trend trading, but still not for consolidating mkts

Da-net,

Thanks for the resources. I remember Carter describing how he uses the fib queen site in Mastering the Trade, but I also distinctly recall that that book didn't actually help me with any real trading setups or problems.

I'm glad this thread has been helpful, and again thank Tradergirl for her help.

 

[da-net]

someone PMd and asked for the links to the "ambush zone" videos. here they are, they are still working and available as of this posting.

video 1;
http://www.tradethemarkets.com/public/2899.cfm

video 2;
http://www.tradethemarkets.com/public/2906.cfm

video3;
http://www.tradethemarkets.com/public/2915.cfm

video 4;
http://www.tradethemarkets.com/public/2910.cfm

 

[TraderGreg]

Interesting strategy. I wonder why he doesn't wait for a penetration of his range and then emerging back above/below it.

I do know of several traders that look for these confluence levels that the Gartley and similar patterns produce by drawing tons of fibs and other levels and looking for critical areas.

Thanks for the videos.

 

[easymon1]

Gartley Butterfly, LP

 

[murray t turtle]

I do know of several traders that look for these confluence levels that the Gartley and similar patterns produce by drawing tons of fibs and other levels and looking for critical areas.

Thanks for the videos.

%%
ITSa sell if that's a daily or weekly stock index ETF; 5 minutes i have no idea on anything 5 minUtes.............................................................................I like IBD patterns for decades , but have no idea s on a subjective patterns like his cup with handles/LOL; except in 20/20 hindsight he always charts a cup with handle with plenty of profit room/room to run up, above 50dma,

 

[easymon1]

have no idea s on a subjective patterns like his cup with handles/LOL; except in 20/20 hindsight

Cup and Handle Thread

"AFTER all these years/ i never have spotted a cup with handle"

"cup and handle thing only works in the textbook.
In real-world, the price can move in thousands of patterns/manners"

There are setups that are deemed not likely.
People on this forum do this as much as anybody else.
There's an example of this above Michael Jackson eating popcorn in the links below.

Who wants to dis a method?
Good luck, nobody knows what it is.
It is Propiotary, lol
Fair enough.

Any PA method that has easily definable parameters is Not To Be Considered by some.
Fair enough.
They are wrong a non-optimal percentage of the time just as any other trader is.


"All I can say is believe None of what you read, and only Half of what you see."

It's so easy to simply reject and nip in the bud any consideration of a method. "All you gotta say is Prove It."

How about this, Do Your Stats, if the setup works in a your hands trader, then proceed accordingly.
No sooner.

"Defy Human Nature, Do The Work Yourself."
Your mom is not going to do your stats for you

If a setup does not speak to you to the point that you've Never Seen One In The Wild, does not mean that is the be all and end all for someone who likes the looks of it, does stats of a dozen or two, and if it still looks reasonable, then do another eighty.

Yes eighty, at least. Is that a lot of work? You bet your ass. How many traders do it, One out of a Hundred.

Now, Who is gonna hand that over to ones who are not on that wavelength.

Those traders are on a different wavelength.

Bandwidth only allows a limited amount of focus and limited number of setups that any trader can focus diligently on. No two traders work the same way.


What's this cup and handle of which you speak? lol
Go here for a quick start.
https://www.elitetrader.com/et/threads/cup-and-handle-on-bac.356343/#post-5336128

Now then, as to hindsight.
https://www.elitetrader.com/et/thre...ulder-buyyyyyyyyyy.359798/page-4#post-5414045

If you walk back the little red arrows that point up to the prior linked post, and follow the trail Two Skips Back, you'll see a chart that is concurrent with that post, not only that but there's your nonexistant Cup and Handle, marked out on that messy old chart, you'll see a cup and handle called at the time around initiation and follows with a couple charts after showing the unfolding of that setup. Right there after the non-existant Head and Shoulders, lol. There's your cup and handle. Not a Chance you say? Hard to believe? lol. Never seen one, textbook BS? Sure You're Right.lol.

That ain't hindsight.
That's a cup and handle my friend, lol.

Right This Way ...
Walk those little red arrows back a couple of notches.
That's not really there.
It's a holographic universe.
Totally made up.

https://www.elitetrader.com/et/thre...ulder-buyyyyyyyyyy.359798/page-4#post-5414045

Cup and Handle Thread
https://www.elitetrader.com/et/threads/cup-and-handle-on-bac.356343/page-2#post-5418002