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[EquisMetaStock Group] Re: Gartley Pattern



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Trading Reference Links

http://www.investopedia.com/terms/g/gartley.asp

I looked into the Gartley pattern years ago, and came away with three 
conclusions:

1) Bullish (lower peaks) & Bearish (higher troughs) patterns seem to 
be illogically reversed;

2) I found no market-based evidence that precise & complex Fibonacci 
retracements had any bearing on the real market action;

3) By the time the pattern finally falls in place and is confirmed 
(often in retrospect), price action has come and gone.

I still see no concrete evidence to change my mind about the Gartley 
pattern.


jose '-)
http://www.metastocktools.com




--- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1" <rvalue1@xxx> wrote:
>
> Person who was teaching it claimed >70% acuracy and low risk, high 
> reward strategy - he was using it for FX but has used it in other 
> markets before. ProfitSource software has a Gartley pattern feature 
> built into it and it can do explorations for GP. Wish Metastock had 
> it.. Is anybody listening??!!
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, Eduardo Gontan Pulgarin 
> <con051204@> wrote:
>
> I'm not sure that anybody has programmed that pattern into MS - I 
> haven't found anything on the web.
>   There is specialised software on this and other patterns, e-
> signal being an example; also, visit http://www.harmonictrader.com 
> and see.
>   I suppose that it could be done in MS, but how accurate the 
> pattern is, that's another matter.
>    
>   Eduardo. 
> 
>
> rvalue1 <rvalue1@> wrote:
>           Thanks for the input. I was looking for a software 
> exploration for 
> the gartley pattern. One could possibly use the John Murphy Chart 
> Pattern Recognition software add on for dbl bottoms and see if its 
> close. I think the Gartley pattern entry is actually around the 
> Fibonacci 0.78 level of the initial wave, before it turns back up 
> for the dbl bottom, and I was wondering if anyone had a software 
> exploration for that.
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Athena Research" 
> <athena.investments@> wrote:
>
> Hi rvalue1,
> 
> Gartley Pattern is similar to Double Bottom pattern. It seems 
> Gartley advised to enter long at the second bottom but ideally the 
> long entry should be done after nech line is broken.
> 
> Gartley pattern can be used for finding setups and wait for 
> neckline to be broken for entry.
> 
> 
> Thanks and Regards,
> Amit Trivedi
> President & CEO
> Athenasolutionz.com - "We sell hope, in the stock market."
>
>
> 
> ----- Original Message ----- 
> From: rvalue1 
> To: equismetastock@xxxxxxxxxxxxxxx 
> Sent: Sunday, October 01, 2006 5:30 PM
> Subject: [EquisMetaStock Group] Gartley Pattern
> 
> 
> I would appreciate any help from our group in showing me how one 
> could 
> explore for a Gartley Pattern using Metastock.
> 
> Thanks,








 
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