[Eric's Trading System] Gartley Pattern Application in Bitcoin
Introduction:
The Gartley 222 is a very powerful, multi-dimensional pattern. It is called a Gartley 222 because it is found in H.M. Gartley’s book, Profits in the Stock Market, on page 222. It also simplified as Gartley
How to identify Gartley Pattern:
1. XA is the whole trend,
2. B point is the 0.618 retracement of XA leg at least
AB leg should reverse very close to this retracement
3. C point at 0.618 or 0.786 retracements of AB leg
4. D point is the 0.786 retracements of XA
or D point is the 1.272BC extension (C at 0.786 retracements of AB leg)
or D point is the 1.618BC extension(AB=CD)
The Gartley 222 is a very powerful, multi-dimensional pattern. It is called a Gartley 222 because it is found in H.M. Gartley’s book, Profits in the Stock Market, on page 222. It also simplified as Gartley
How to identify Gartley Pattern:
1. XA is the whole trend,
2. B point is the 0.618 retracement of XA leg at least
AB leg should reverse very close to this retracement
3. C point at 0.618 or 0.786 retracements of AB leg
4. D point is the 0.786 retracements of XA
or D point is the 1.272BC extension (C at 0.786 retracements of AB leg)
or D point is the 1.618BC extension(AB=CD)