so where do you set your entry?
1. the gartley has already completed and performed to at least TP1 from the XA-78.6fib+ABCD level
2. that gartley/this gartley has an AB retracement to C > 90% would say a double bottom, or close / at least exceeds the harmonic pattern rules (wick could be an argument, but a wick on a daily is a candle on a lower TF)
Well, at least to be caucious, the S/R level at X is not bad at all for sure.
Also an ABCD to complete in the 157.4 area a bit above the next resistance level.
Last edited by lobogabor; 09-04-2013 at 06:27 PM.
1. S. Carney - The harmonic trader (from p. 247 onwords)
2. S Duddella - Trade chart patterns like the pros (pp. 69-90, just somewhat different approach , not long and not heavy)
3. S Carney - Harmonic trading vol1 - Profiting from the natural order of financial markets...(2010, from p 170 on)
At least these are the ones I found useful for myself in the early entry respect, and also started me thinking of why some perfect harmonics fail and others perform superb... there are of course more good books to help, but it should be a good resource to start with in my opinion.
Last edited by lobogabor; 09-04-2013 at 08:23 PM.
Regarding books on harmonics patterns trading you may want to check also this list here: Books on the Gartley pattern
evening star daily
pls can someone illustrate how i am to use the fibonacci channel.seem like i need to add some levels and i also want to know the best way to place it on the chat.i only have levels 0.618, 1, 1.618 and 2.618
My experince...I have to rediscover stuff step by step in the books I have already read. Almost everything is written there, and when I read it first I think I do understand it...in fact my brain is not ready to take the things I do not even know those exist when I read it the first time. So my experince is needed first, new questions gathered, to be able to absorb some more information the next time I look at it in the book. There might be some people out there who are different, understanding exactly what is there for the first time reading it, but I think those are the minority . Enjoy!