This study provides the guidance for Gartley Pattern Trading by examing 96 Gartley Patterns, historically formed in Forex and stock market index Chart. First screenshot is taken with Garltey Pattern only. Second screenshot is taken with Gartley pattern + Supply Demand Zone + Bollinger Bands. So there are 192 screenshots (96 x 2) in this study. This study uses non repainting and non lagging Harmonic Pattern detection algorithm. Hence, this study will show both failed and successful pattern to provide you the unbiased results. Typically, a repainting indicator will show the successful pattern making it hard to check the real performance of your strategy in historical study in your chart. If you want to become a profitable trader, you should study the strategy in the scientific manner. It basically involves checking the repeatability or reproducibility. We provide this study to enhance the forex and stock trading for the trading community. We also want to add some scientific value for the Harmonic Pattern, X3 Chart Pattern and Elliott Wave Pattern too. The Gartley Pattern in this study has the following Structure:
- N: 3, C0: 0.618 to T0: 3
- R0: 1.272, R1: 0.382 -0.886, R2: 0.618
Points to watch out in this study:
- Price movement around the Pattern Completion Zone (= Trading Zone) in the Gartley Pattern
- Supply Demand Zone interaction with Gartley Pattern
- Risk management around the Trading Zone. Look for the trading entry, where at least, Reward > Risk x 2
- Possibility for breakout trading around the trading zone (=use them as support and resistance)
- Look for continuation pattern vs reversal pattern
You can find some Reference for this study below:
- Science Of Support, Resistance, Fibonacci Analysis, Harmonic Pattern, Elliott Wave and X3 Chart Pattern (In Forex and Stock Market Trading)
- Guide to Precision Harmonic Pattern Trading (Mastering Turning Point Strategy for Financial Trading)
- Technical Analysis in Forex and Stock Market (Supply Demand Analysis and Support Resistance)
- Profitable Chart Patterns in Forex and Stock Market (Fibonacci Analysis, Harmonic Pattern, Elliott Wave, and X3 Chart Pattern)
- Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave)
Here is the YouTube Link for Gartly Pattern Trading: https://youtu.be/J3vjlHatUTI
This study was performed using the Robo Advisor built inside Optimum Chart.
You can also check the similar results using the X3 Chart Pattern Scanner in MetaTrader 4 and MetaTrader 5 platform (Non repainting and non lagging algorithm).
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