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Thanks Bill.
Do you have a program that has these patterns programed in. Or is this
done Visually.
Anthony
wavemechanic wrote:
> Anthony: I had looked at Butterfly and rejected it as well. I allow
> 2% slop, although there are advisors that allow up to 5%, and the
> current pattern is in the 3-3.4% range. The reason that
> Gartley/Butterfly patterns are of interest is that the reversal
> statistics are outstanding. But these statistics drop off in an
> undocumented way as one leaves the "ideal" setup. For my trading
> universe, I have learned that 2% seems to be OK and beyond that I move
> on, or wait for the pattern to complete, if there are indications of
> that happening. That's my take, others may play it differently. Bill
>
> ----- Original Message -----
> From: Anthony Faragasso
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Sunday, September 29, 2002 9:58 PM
> Subject: Re: [amibroker] Gartley Butterfly setup in NDX100
> NOW!
> 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_
> ocs/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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