T2W Bot

Staff member
1,454 54
Once in a while a pattern comes along discovered by little known trader that stood the test of time can be a useful tool to trade even in this modern-day markets. It only goes to show the validity of the pattern?s profitability factor.
This is a complex pattern that beginners may have a hard time finding them in their charts. Identifying double-top, double-bottom, triangles are easy. Then head-and-shoulders come in many shapes and sizes, these take more time to spot them. But the Gartleys are more complex in a sense that Fibonacci measurements must be taken into account unlike the traditional patterns. This pattern is also known as the Gartley Butterfly because of the movements of the prices and the drawn lines that connect to other pivots to give what looks like wings of a butterfly.
Below is a sample of what a Gartley pattern looks like. It may look like the astronomy chart at first but with time, the pattern will clearly appear for opportunities to trade.
The pattern begins with...
Continue reading...
 
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Moxy9

Junior member
22 2
The article mentions Gartley Butterfly. The Butterfly pattern is a different harmonic pattern to the Gartley, they are not one in the same. The main difference is that Point D finishes lower (on a bullish pattern) than point X at a major fib area like the 127 or 161.8
 

boatman1069

Newbie
2 0
larry pesavento has a great book with this patern and the butterfly in it.
the book is called trade what you see...this book flicked the switch for me...many thanks larry.

:D
 

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