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Dear my Dukascopy community readers.

Today we are going to learn how to trade in Harmonic Pattern Gartley. First of all, I want to give you brief information about Harmonic Pattern history. Most of Forex, Stock, and Cryptocurrencies traders use harmonic pattern trading method at the advanced trading. Scott Carney President and Founder of HarmonicTrader.com has defined a system of price pattern recognition and Fibonacci measurement techniques. He gave the name and determined harmonic patterns such as the Bat pattern, the Gartley pattern and the Crab pattern.
This article, which I wrote for you provide my own look on harmonic trading. The most famous formation among the Harmonic Patterns known as Gartley. Let us say how to draw formation. When we draw the formation like as below, this is the gartley formation. One of the most important note is that XA must be a impluse. Gartley can be seen in a uptrend or in a downtrend. In this formation the impluse begins then correction again impluse begins. We will use X A B C D letters in Gartley pattern
Our first movement should be impluse in uptrend or in downtrend. Name is this movement is XA. First rule is that XA must be impluse. After …
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thedoctor avatar
thedoctor 28 Aug.

greet article

AnnaZhurina avatar

Good job!

Mepcuk avatar
Mepcuk 29 Aug.

Great

Muller avatar
Muller 30 Aug.

Interesting pattern and good explanation.

ElizavetaKl avatar

good job

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Weekly time frame.
On weekly we can see that EURUSD is ranging between 1.4455 and 1.0555. However the last down side range touch was happen on 29 Nov 2015.From that time we can see rising channel trying to push price through the upside range boundary. It failed several times however bulls are preventing price to move back downside the range. If price would broke the upside range boundary it could indicate buy signal for the pair. Possible 1 TP level could be defined by 38.2 % Fibonacci retracement level around 1.1800. On the other hand If price would broke the downside channel it could indicate sell signal with 1 long term TP level in the middle of the range around 1.1000 and 2 long term TP level down at the bottom of the range around 1.055. See chart below.
Daily time frame.
On daily we can see that last week nice Bearish Three Drives has formed (see grey line on the chart below). So now the down move is in play and main important thing is to watch how the price will react on support levels at 38.2% and 61.8% Fibo. retracement. (see picture and 2 green dashed line from the top). If levels holds we could expect further upside move towards 1.62 and possibly up. However when price …
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hrustiashka avatar

Nice job!

hrustiashka avatar

Good job!

AAAeee avatar
AAAeee 21 May

very good, you are right!

mcquak avatar
mcquak 29 May

Ok gang, it seems that 1.1070 (50% retracement) will be reached upcoming week. Green pips

sonjatrader avatar

Good analysis

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