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Ira:
You are not correct. I do not know what you are
describing, but it is not a bullish Gartley, which has ~80%
predictability. The Gartley and Butterfly are not just simple Fibonacci
retracement patterns with "average" reversal statistics, but rather multiple
Fibonacci relationships that together produce a Gartley/Butterfly. As
noted in "Profitable Patterns for Stock Trading" by Pesavento, page 33, a
bullish Gartley has a number of defining characteristics,
including:
1. AD will usually be .618 or .786, but can also
be .382, .5, or .707, and once in a blue moon 1.00
2. AB = CD
3. BC = .618 or .786 of AB
Bill
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Ira Tunik
To: <A title=realtraders@xxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxx";>realtraders@xxxxxxxxxxx
Sent: Saturday, December 16, 2000 11:35
AM
Subject: Re: [RT] NDX Update
This is not a bullish Gartley, it only indicates a retracment
is in the offing because an objective has been reached. To be bullish
C has to be taken out, a retracement, and then the next leg up is the
bullish one. Until that happens it is retracement and either lower or
consolidation. Ira
wd wrote:
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