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Thread: Gartley pattern failure setups (Failed Gartley pattern)

  1. #1
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    Gartley pattern failure setups (Failed Gartley pattern)

    Gartley pattern failure setups





    For more info about the Gartley pattern and the confirmation methods see -> Gartley pattern - table of content
    Last edited by kor4x; 09-02-2012 at 09:28 PM.

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    Sometimes when you are stopped out just by couple of pips you start thinking if placing your StopLoss for Gartley pattern at X point level is really smart way. Yes, you should be thinking on it.
    Gartley pattern failure setups (Failed Gartley pattern)-harmonic-trading-failed-gartley-pattern-eurhuf-h1.gif

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    Gartley patterns work best in channels,> < and ranging

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    yes, as well.
    Note however that originally Gartley pattern was defined by the author as first correction pattern in new trend. This means Wave 3 should follow from point D.
    Gartley in the channels is what we call Continuation pattern.
    see -> Reversal and Continuation Gartley pattern

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    Quote Originally Posted by kor4x View Post
    Sometimes when you are stopped out just by couple of pips you start thinking if placing your StopLoss for Gartley pattern at X point level is really smart way. Yes, you should be thinking on it.
    Still at what point do you stop a trade that is running in the wrong direction... Sometimes - you've got to do it! Or not...

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    i do not have strict rules for this. Very much differs from case to case. I guess, i believe i know well when to bend the rules. I may regret this approach one day.
    Also, I try to think where others will put their stops and not to put them in the same place.
    Lots I do is against the books theory. I use what works for me, not what is common trading "truth".

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    You have a plan and you trust your plan. So it's no different than having rules... If you keep doing the same thing over and over - then over time it pays out!

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    Another example of failing Gartley pattern. Common example. Minimum point B price level was reached, but this is not what we usually expect when trading Gartley. We count for strong impuls (Elliott wave 3) to follow.
    Here after reaching point B market continued to drop --> Gartley pattern failure setups (Failed Gartley pattern)-harmonic-trading-failed-gartley-bullish-eurgbp-m5-2012-04-27_1035.png

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    so similar situation on EURUSD Gartley pattern failure setups (Failed Gartley pattern)-harmonic-trading-failed-gartley-bullish-eurusd-m5-2012-04-27_1342.png
    Bes likes this.

  10. #10
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    Another failed Gartley pattern example -> Gartley pattern failure setups (Failed Gartley pattern)-harmonic-trading-failed-gartley-bullish-pattern-usdnok-m5-2012-05-19_1411.png
    1.Should make you thinking if X price level is really best for your Stop Loss level.
    2.Should make you thinking if all Gartley patterns should be traded and how the success ratio can be improved.

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