- Call rules :
1. Bullish Gartley Pattern
2. Waiting for price to breakthrough and close above ALF line
- Put rules :
1. Bearish Gartley Pattern
2. Waiting for price to breakthrough and close below ALF line.
- Stop Loss
1. For buy orders, we will use the bottom of the deviation box as our stop loss.
2. For sell orders, we will use the top of the deviation box as our stop loss.
- Take Profit
1. For take profit we’ve to consider different factors such as how strong the expected move might be in our direction, do we have a current trend forming in our favor, upcoming news (next 3 days at least, we want be sure if anything might impact our trade). Same considerations might be applied for the stop loss as well, however in stop loss level we have more precise and clear rules as related to the built in deviation box that comes within the indicator it self. Same time for take profit we have bit more options to choose from.
2. Take profit levels and our choice of approach will be forming as further we practice the system and learn our selves about the behavior of different patterns, situations and currency pairs. The more we will practice, the better will make our choices when it comes to our take profit exit points.
3. In the following illustration I’ve shown couple of take profit ideas as I personally tried in my short term made practice within Gartley Patterns. I would encourage everyone not limit him/her self to this techniques and research further for techniques you might like and feel more comfortable with. Furthermore, I would strongly advise test all kind of techniques heavily and consistently until you find the techniques you really feel as suitable for you.
- Try to trade only with high volatility pairs and on EU and US sessions.
- System is new, please test it together and share with results at the thread / comments.
- Demo only first before proceeding any live trading.
- The techniques listed are not guaranteed to create any kind of success. Any attempt to use this techniques would be at user’s responsibility and risk only.
- Do your own due diligence before making any use of any strategy, indicator or service offered / shared online and that includes anything that is listed on this page it self.
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