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>From the Elliott wave perspective, the Gartley Pattern is Wave 3 and
not Wave 1 or 2. That is why there is interest in trying to uncover
the GP. Wave 3 if hit, is the longest wave, and the risk is low, as
you can set a stop quite conveniently. Thanks for all the input. I am
still neutral on GP and will instead work with a friend of mine who
has Profit Source and can do GP explorations.. perhaps he can help
sort out its accuracy level. Meanwhile someone (not Jose I am sure!)
will come up with the GP for Metastock, backtest it and have it
available as a slick add-on and suckers(?) like me will buy it.
Roy - this one is calling for you..
--- In equismetastock@xxxxxxxxxxxxxxx, "TA_Trader" <tatrader@xxx>
wrote:
>
> Hi Jose,
> If you look at it from the Elliott Wave prespective,
> the bullish Gartley is only wave 1 and wave 2 formation,
> where wave 2 consists of an ABC swing (= BCD on the chart you shown)
> And Wave 2 reteace 0.5 to 0.786 of wave 1.
>
> Trade well
> Barry
>
>
>
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Saturday, October 07, 2006 8:11 AM
> Subject: [EquisMetaStock Group] Re: Gartley Pattern
>
>
> http://www.investopedia.com/terms/g/gartley.asp
>
> I looked into the Gartley pattern years ago, and came away with
three
> conclusions:
>
> 1) Bullish (lower peaks) & Bearish (higher troughs) patterns seem
to
> be illogically reversed;
>
> 2) I found no market-based evidence that precise & complex
Fibonacci
> retracements had any bearing on the real market action;
>
> 3) By the time the pattern finally falls in place and is
confirmed
> (often in retrospect), price action has come and gone.
>
> I still see no concrete evidence to change my mind about the
Gartley
> pattern.
>
> jose '-)
> http://www.metastocktools.com
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1" <rvalue1@> wrote:
> >
> > Person who was teaching it claimed >70% acuracy and low risk,
high
> > reward strategy - he was using it for FX but has used it in
other
> > markets before. ProfitSource software has a Gartley pattern
feature
> > built into it and it can do explorations for GP. Wish Metastock
had
> > it.. Is anybody listening??!!
> >
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, Eduardo Gontan Pulgarin
> > <con051204@> wrote:
> >
> > I'm not sure that anybody has programmed that pattern into MS -
I
> > haven't found anything on the web.
> > There is specialised software on this and other patterns, e-
> > signal being an example; also, visit
http://www.harmonictrader.com
> > and see.
> > I suppose that it could be done in MS, but how accurate the
> > pattern is, that's another matter.
> >
> > Eduardo.
> >
> >
> > rvalue1 <rvalue1@> wrote:
> > Thanks for the input. I was looking for a software
> > exploration for
> > the gartley pattern. One could possibly use the John Murphy
Chart
> > Pattern Recognition software add on for dbl bottoms and see if
its
> > close. I think the Gartley pattern entry is actually around the
> > Fibonacci 0.78 level of the initial wave, before it turns back
up
> > for the dbl bottom, and I was wondering if anyone had a
software
> > exploration for that.
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Athena Research"
> > <athena.investments@> wrote:
> >
> > Hi rvalue1,
> >
> > Gartley Pattern is similar to Double Bottom pattern. It seems
> > Gartley advised to enter long at the second bottom but ideally
the
> > long entry should be done after nech line is broken.
> >
> > Gartley pattern can be used for finding setups and wait for
> > neckline to be broken for entry.
> >
> >
> > Thanks and Regards,
> > Amit Trivedi
> > President & CEO
> > Athenasolutionz.com - "We sell hope, in the stock market."
> >
> >
> >
> > ----- Original Message -----
> > From: rvalue1
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Sent: Sunday, October 01, 2006 5:30 PM
> > Subject: [EquisMetaStock Group] Gartley Pattern
> >
> >
> > I would appreciate any help from our group in showing me how
one
> > could
> > explore for a Gartley Pattern using Metastock.
> >
> > Thanks,
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
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