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Bill,
I may have mis-represented the pattern by calling it a Gartley , After
doing a Google search in order to verify my spreadsheet , This is indeed
called a " Bullish Butterfly pattern" .
The bullish butterfly is similar to the Gartley. However, although the
same ratios are used as the Gartley setup -- 61.8, 78.6, 1.27, and 1.618
-- they occur at different parts of the pattern. This results in a point
D that is lower than point X,... But I should note that this is an
ideal pattern; not all ratios will match the ideal in the real world,
even though the pattern is a legitimate butterfly.
http://www.working-money.com/Documentation/FEEDbk_docs/Archive/042001/Abstracts_new/Teseo/Teseo.html
Anthony
wavemechanic wrote:
> Anthony: The spreadsheet can give you a rough idea, but is really too
> simplistic for practical application. For example, it only looks at
> .618 and .786, which is "ideal." But Fibonacci pattern types also use
> .707 and even .500 and even .887. More importantly, however, is the
> fact that it shows that AB <> CD. So although nothing pops up in the
> spreadsheet and says no-no, this is a violation of a critical Gartley
> boundary condition. The spreadsheet also fails to clearly tell the
> user that XA is < AD which is also a no-no for a Gartley pattern.
> Etc., etc. Bill
>
> ----- Original Message -----
> From: Anthony Faragasso
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Sunday, September 29, 2002 8:27 PM
> Subject: Re: [amibroker] Gartley Butterfly setup in NDX100
> NOW!
> Bill,
>
> Here is the Spreadsheet.
>
> Thanks
> Anthony
>
> wavemechanic wrote:
>
> > Anthony: Pesavento spells out the requirements in his
> book. Pivots
> > per se do not define a Gartley, so I don't know what TASC
> is talking
> > about. If you want to send me the spreadsheet I'll take a
> look. The
> > more important requirements are: AB = CD, AD = (.618-.786
> (.5 used by
> > some but is a stretch) Fibonacci)*XA, and BC = (same
> Fibonacci
> > range)*AB. The Butterfly has somewhat different Fibonacci
> targets and
> > additional constraints. Attached is a potential Gartley
> for SPX. Bill
> >
> > ----- Original Message -----
> > From: Anthony Faragasso
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Sunday, September 29, 2002 6:16 PM
> > Subject: Re: [amibroker] Gartley Butterfly setup in
> NDX100
> > NOW!
> > Bill,
> >
> > How did you come to that conclusion, The pivot points
> are
> > based on an
> > excel spreadsheet that was supplied by TASC.
> >
> > Using the Trough and Peak as mentioned, then what are
> the
> > Pivot points
> > for B,C,D,and Target ( T ) .
> >
> > Thanks
> > Anthony
> >
> > wavemechanic wrote:
> >
> > >
> > >
> > > ----- Original Message -----
> > > From: Anthony Faragasso
> > > To: amibroker@xxxxxxxxxxxxxxx
> > > Sent: Sunday, September 29, 2002 5:37 PM
> > > Subject: [amibroker] Gartley Butterfly setup
> in
> > NDX100 NOW!
> > > Hello,
> > >
> > > It seems there is a Gartley Setup in the
> NDX100,
> > using the
> > > low ( trough)
> > > of 8/5/2002 and the High ( Peak) of 8/22/2002
> . The
> > final
> > > leg or
> > > Targets are: 934.71 and 960.61. Neither the
> Gartley
> > or
> > > Butterfly Fibonacci requirements are met by
> the NDX
> > pivots
> > > shown. On the other hand, take a look at
> SPX. Bill
> > Anthony
> > >
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