|
We study the characteristics of trading according to the popular pattern Many traders mistakenly believe that harmonious trading is nothing more than an attempt to catch falling daggers. This opinion is based on the definition of this technical analysis approach, which allows with a high degree of probability to identify the trend reversal using Fibonacci ratios. In fact, many harmonious trading patterns help to identify the exhaustion of the corrective movement , that is, they can be used as trend continuation models. This allows you to perceive differently than the Gartley pattern. Once, Harold Gartley's books were sold for the price of a new car, as traders believed that it contained the Holy Grail, which would allow a stable profit on the market. It was rumored that the author had found a gold mine and was willing to share it.
For money. It is not true that something resembles Mexico Mobile Number List the present, when the so-called Forex gurus invite you to spend individual training with them and ensure a bright future for themselves and their descendants. In this case, the historical parallels do not end. Just as almost a century ago, buyers of Gartley's books lost deposits, so there are now fewer students of experienced traders. The dog is buried in the fact that each person is individual, what suits one, is strictly contraindicated for the other. Each person has to follow their own path in the search for the Holy Grail. Gartley Pattern LiteFinance: Pattern Gartley: powerful weapons in Forex | Litefinance A distinctive feature of the Gartley pattern is the correction of wave XA to the level.
This is the limit, the deeper the reversal, the less likely it is to return to the original trend. The trend is determined based on the direction of quotes from point X to point A. Therefore, the Gartley pattern is a chart for determining the exhaustion of the corrective movement . It can be part of the trading system when working on restoring a previously existing trend. The target is the 78.8% level of wave XA. There may be a convergence zone here, which also includes the 127.2-161.8% benchmarks in the AB = CD pattern. It is considered a component of the Gartley pattern. Gartley pattern on the USD JPY daily chart.
|
|