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Gartley

Educational 06: Gartley Pattern It is the second most important trading pattern in Harmonic Pattern series , called Gartley Pattern which is also frequently observed in markets. This post a second post of educational series related to Harmonic Patterns, In this post, I cover the following things regarding the pattern 1. Pattern Traits 2. Step by Step formation of the Pattern 3. Bullish Gartley Pattern measurements, labelling and targets 4. Bearish Gartley Pattern measurements, labelling and targets 5. Look of the pattern Further to come in this Harmonic Pattern series , where I shall be discussing about the below patterns: 1. AB=CD Pattern (Completed) ----> Link below 2. Gartley Pattern (Present) 3. Cypher Pattern >>>>> Next 4. Bat Pattern (Coming up) 5. Butterfly Pattern (Coming up) The best part of the above mentioned patterns that they can be used in all markets and at any time frame. It means you can use the patterns in stock markets, Forex , Commodities and at any time frame like hourly, daily, weekly etc. Therefore, they are important tools when analyzing the charts. Purpose: To provide information to traders community that can help individual trader to learn more and take inform decisions while trading in order to generate consistent positive results. Practice the above said chart pattern and share it below with us. Thanks for the support, Best Regards, Neetesh Jain
by NeeteshJain
13
IPCALAB Bearish Gartley Pattern SetupPreviously on daily chart, it is been observed that the price action is ranging in a uptrending channel. Today, on hourly chart, there is formation of Bearish Gartley pattern has been observed which indicates selling pressure at 630 levels, where Bearish Pin-bar pattern is also observed. There is also a MACD crossover that to be noticed too. The above said factors indicating bearishness in the chart and It shall further move down. Target 1: 603 Stoploss: 625
NSE:IPCALABShort
by NeeteshJain
6
Nifty - Forming Bullish Gartley Pattern It is been observed that the price action is forming a bullish Gartley pattern on daily chart that suggest a short pull back from the current levels. I believe it shall go up to 8680 levels before it continues its down fall. Key Points: Strong Support levels at 8568-8521 Bullish Gartley Pattern formed MACD AND RSI Oversold Therefore, one can take a long position, while keeping a strong stoploss as marked below Target: 8680 Stoploss: 8525
NSE:NIFTYLong
by NeeteshJain
2
Gartley : The Gladiator ! Will it Save Nifty ?!Even I'm wondering how I get these title's in minutes. ok, lets not boast so back to analysis of Nifty ! So what are the components of today's chart ? We got, (i) Bullish Gartley - The Gladiator (ii) Bullish ABCD completion (iii) Elliot wave counts (iv) Trendline in Support zone We have the Gartley & ABCD pattern completion in our support zone 8500's (approx.) so if patterns behave as they ideally behave Nifty may rise up till resistance zone 8680's. But we should note that, for past 2-3 weeks we had approx.3 pattern failures only, so we should take steps carefully bcos we can't win everytime or 95%. In the same pattern completion zone we have a trendline passing through which is tested 4 times and Nifty moved up. I remember GBPUSD which I did yesterday night, similar to Nifty, it retested 3 times & 4th time when I entered long it failed. Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy ! But I expect today we may have calm day kinda ranging bcos silence after the storm. Let's See... If the Nifty goes down plan your trades accordingly, I just gave my view based on Patterns n Elliott's ( oh God ! I forgot to explain ). Its simple wave count we have done with imaginary moves for Nifty but if you want to alter elliott counts you can start at Point (A) of ABCD pattern, that Elliott count is also correct. So based on patterns,Elliots, Trendline we expect upmove in Nifty till resistance but we will find out soon what happens... I may be wrong or right in My view ! BottomLine : Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy or to takeout your stops ! Its all our absurd imagination... Stay Strong in Trading Game. It's all psychology !
NSE:NIFTYLong
by InsiderB
19
Nifty : Catching the Falling Knife !Hi Guys ! Yes, going against the trend is catching the falling knife, but if you have the skills, there won't be any fear. From the Nifty chart we can clearly see that there is cypher within Gartley. I expect the cypher to give Gapup open today. If the cypher fails & support is also broken, we do have another potential Gartley completion around 8620's. Those who are trailing stops on short trades, will enjoy Nifty if that happens. Just another note, some believe that if there is support or resistance zone is marked Nifty should bounce like ball after hitting the zones. No Guys, its just an area on chart where Nifty can take a break,relax and regain its stamina to proceed on any direction, sometimes Nifty or any other scrip broke support/Resistance in seconds. That doesn't mean its not working. Hope this clarifies about support / Resistance. Happy Trading !
NSE:NIFTYLong
by InsiderB
2
Nifty : Will Double Top & Gartley work Together ?!So, just by one quick look on the chart you will be know about the beautiful Gartley {updated yesterday morning, so I'm not sure how many of you noticed} and Potential double top formation. We predicted Nifty will taking off after Fed's but turned out to be profit booking & boring day. I don't have much expectations today also.Nifty may be ranging within 8900's - 8840's. The trade setups we have today are : (i) If Double Top confirmed with Bearish Reversal - Short Nifty (ii) If we find support at zone marked in green with Bullish Reversal - Long Nifty We have Simple 5-wave Elliot completion, charts will look messy if I draw everything on Nifty. So left it out. Pattern & Double top completion increases confidence only, doesn't mean 100% winning potential. How easy it is... I want Nifty to be this easy everyday, Just under 180 seconds Flat, analysis is over for the day.
NSE:NIFTY
by InsiderB
12