I thought these cypher, Gartley patterns are tough until I learnt it is based on fibonacci ratios. Draw fibonacci levels from X to A. Point B should not close above 0.618 fib level. The point C should form between A and B. Point D should not close above 0.786. Now lets see how to trade this Gartley pattern. Sell at 0.786 with the stoploss of few points above it. Your risk should be minimum and it should not exceed risk : reward ratio of 1 : 1. Targets are 0.5, 0.38 and 0.236 fib levels. People who love fibonacci ratios, dont miss Gartley pattern trades!
Comment:
Price touched exact 0.38 fib level and reversed.
