Gartley pattern trading - Practice mode only
Updated
Experiment Gartley Pattern on WTI Crude Oil - 1H chart
Rules:
1. AB strictly fall between range 0.618 - 0.768 retracement of XA
2. C point terminated between range 0.618 - 1 retracement of AB leg.
3. C cannot cross A level
4. D (Very Important) - Should be between 0.618 - 1 retracement of XA leg. However, I used Fibonacci Extension and pick D at 1.272 which is very close to "1" and very safe to "Short" from this point.
Things to remember when trading
* Wait for the perfect setup. Patient Patient Patient.
* Don't use "Hard Stop". Use "Soft Stop"
* Use have to willing to lose when you trade
* Don't go too big
* Don't over trade. Find a perfect setup and stick to it.
Rules:
1. AB strictly fall between range 0.618 - 0.768 retracement of XA
2. C point terminated between range 0.618 - 1 retracement of AB leg.
3. C cannot cross A level
4. D (Very Important) - Should be between 0.618 - 1 retracement of XA leg. However, I used Fibonacci Extension and pick D at 1.272 which is very close to "1" and very safe to "Short" from this point.
- Safe to SHORT with low Stop Loss range.
- Higher Profit/Loss ratio
Things to remember when trading
* Wait for the perfect setup. Patient Patient Patient.
* Don't use "Hard Stop". Use "Soft Stop"
* Use have to willing to lose when you trade
* Don't go too big
* Don't over trade. Find a perfect setup and stick to it.
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