A Gartley pattern is very similar to a bullish W or bearish M. It appears when the price has been moving in an uptrend or downtrend but has started to show signs of correction.
Ideal Gartley patterns look something like this:
Move AB should be the .618 retracement of move XA
Move BC should be either a .382 or a .886 retracement of move AB
If the retracement of move BC is .382 of move AB, then CD should be 1.272 of move BC
Consequently, if move BC is .886 of move AB, then CD should extend 1.618 of move BC
Move CD should be A .786 retracement of move XA
The Gartley pattern is traded from point D. Traders opt to buy or sell at point D, depending on the pattern direction.
Ideal Gartley patterns look something like this:
Move AB should be the .618 retracement of move XA
Move BC should be either a .382 or a .886 retracement of move AB
If the retracement of move BC is .382 of move AB, then CD should be 1.272 of move BC
Consequently, if move BC is .886 of move AB, then CD should extend 1.618 of move BC
Move CD should be A .786 retracement of move XA
The Gartley pattern is traded from point D. Traders opt to buy or sell at point D, depending on the pattern direction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.