October 29, 2010

Silver 4h

Another Gartley pattern, this time it's bearish. The geometry:AB=CD, 61.8 XA, 161.8 BC. Market bounces off of this level for the second time. The stop is close and the potential is significant.

October 27, 2010

Crude Oil 4H

Another Gartley pattern forming on the chart. Perfect alignment of the levels (127.2 AB=CD, 78.6 XA, 161.8 BC). The hammer candlestick makes a nice addition.

October 20, 2010

T-Note 4h

A Gartley pattern possible on the 4-hour chart of the10yr Treasury Note (December '10). The levels converge nicely (1:1, 161.8%, 78.6%).

Silver 4h

There's a possible AB=CD on the 4-hour silver chart. For more probable setup you might wait for the brake of C point.

September 30, 2010

Crude daily

Moving on to the higher time frame we can see another Gartley pattern. This time the geometry is perfect, with B at the 61.8 XA and potential D at 78.6. The rest of the proportions are also ideal. This could mean a reversal.
Harmonic patterns are sometimes extremely accurate, so that you can place a stop very close, which allows for a bigger position. The downside to them is that often you have to play against the prevailing trend.

September 28, 2010

Crude 4hour

We see a Gartley pattern on the 4-hour continuous chart of crude oil. This is a bearish setup.

September 22, 2010

CHFPLN

Not your typical 'perfect Gartley' formation, nevertheless worth a look. The levels are 127.2 APP (alternate price projection), 61.8 internal retracement of XA and 161.8 external of BC. In addition, after switching to candlesticks, we have a nice hammer signal on yesterday's session.