Tuesday, April 21, 2009

GBP patterns in a pattern

Bias here is still to the downside but a short term up trend has proven itself. Can anyone see the smaller patterns inside the bigger pattern. Drawing the supply and demand lines will show the range this has been trading. My orders have all been inside this range but waiting for a break out. Dial down for the entries and targets. Been finding some real good trades here.

In response to, well you know who you are. These lines do not show a Gartley pattern. The C point exceeding the A point invalidates the Gartley pattern. Likewise D cannot exceed X and B cannot exceed X. C however can equal A which first is a double top and D or B can equal X which would be a double or triple bottom. Did ya get that? There are however valid Gartley's in the smaller time frames that a couple of us have been trading. I just like to start with the Daily patterns and find the trend...just my way.

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