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Thread: Gartley pattern failure setups (Failed Gartley pattern)

  1. #11
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    Not sure if you benefit from it in your harmonic trading strategy, but when harmonic pattern fails - relatively quickly price returns to test the StopLoss price levels.
    If someone stayed in the losing position (did not accept the natural SL at X), this method (after price retests the SL levels) may allow to exit on Zero or small plus, or may be a good location to enter in oposite direction than indicated by the pattern.
    hmm... but what if price will never test the StopLoss levels :-) ... anyway, worth to consider the method.
    Comments/opinions are welcome.
    Gartley pattern failure setups (Failed Gartley pattern)-failed-harmonic-pattern-price-returns-stoploss-levels-2012-09-25_1551.png
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  2. #12
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    short video presenting also the topic explained in the previous post
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  3. #13
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    how the continuation Gartley pattern failes -> Gartley pattern failure setups (Failed Gartley pattern)-how-gartley-pattern-fails-2013-10-01_1039.png
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

  4. #14
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    in my opinion first gartley in new trend is risky - because of banks and their stop hunts,
    secondly gartley should be considered as failed by PA and 88.6XA level rather than X point
    thirdly this opens doors for trading gartley negation

    drap

  5. #15
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    Quote Originally Posted by drapichrust View Post
    in my opinion first gartley in new trend is risky - because of banks and their stop hunts,
    secondly gartley should be considered as failed by PA and 88.6XA level rather than X point
    thirdly this opens doors for trading gartley negation

    drap
    ad1. clearly defined SL levels for harmonic patterns is actually their drawback, as it's clear to everyone where the amateurs stops are and easy to catch them. However still the risk with proper (PA based) entry is so small that a stop hunt from time to time will not be an issue.

    ad2. very good point, and this is how I try to do. If we have a Gartley on H1, we can fine tune our entry from M1/M5 timeframes. PA (or however the entry method is called, can be candlestick formation for example) defines the entry and the SL. And this SL from M1/M5 will be really small, especially compared to the profit possibility from H1.

    ad3. this is not for me. There is enough proper Gartleys to trade

    thanks!
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

  6. #16
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    Quote Originally Posted by kor4x
    ad2. very good point, and this is how I try to do. If we have a Gartley on H1, we can fine tune our entry from M1/M5 timeframes. PA (or however the entry method is called, can be candlestick formation for example) defines the entry and the SL. And this SL from M1/M5 will be really small, especially compared to the profit possibility from H1.
    this is ideal situation when there is small/micro pattern in PRZ confirming bigger pattern on higher TF and giving edge sharp entry but sadly it doesnt happen often, maybe you have other PA confirmations beside regular harmonic patterns in PRZ which you could share

  7. #17
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    for me the entry from smaller timeframe does not have to be another harmonic pattern. I use PA setups or candlestick setups or however to call it properly. I have 2 typical entry setups: a.deep retracement and b.false breakout. I have placed a detailed handdrawn explanation of them somewhere in the Daily setups discussions thread, ...tried to quickly find them now, but couldn't.
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

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