August 30, 2010

EUR/USD Gartley

I show you my idea about Eur/usd Gartley on a Daily Chart. This can be possible of course, but this can be negating too.
First I identify the first leg X to A and expect 61.8% Fibonacci Retracement to form point B as you see in the Chart above. The first rule: Point B not exceeded the point X. If happen, our pattern be negate. We expect at this time, the formation of point C. This can be 61.8% of point A to point B or harmonic. Second Rule: C nor exceed A. So, we expect the formation of point D to validate this pattern. If the patter structure form is good, I take a buy position at D point. Harmonic Patterns work 70% of the time, so. I not want predict the future. That is simple, is No possible. I only show my idea about that formation. That not mean that happen or I predict the future. Happy Trading!

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