Mr. Gartley draw the pattern and it’s market
context/location. In the late 1980 In the book Profitable Patterns for Stock
Trading Larry Pesavento assigned certain ratios to define the pattern
precisely. He measured each price swing from peak to trough as a certain
percentatge of the proceding price swing. Pesavento required these percentages
to be Fibonacci ratios: 61.8, 78.6 100, 1.27, 1.618
Problem is that it’s quite rare to see the Gartley pattern
with exact precise Pesavento’s Fibonacci ratios. Some % delta or Fibo ranges
must be used to expand the acceptable price swings ratios and produce more
patterns, more trading opportunities. For example to allow XD retracement to be
57.7 till 88.6 rather than exactly 78.6
The importance and understanding of AB=CD in Gartley pattern
Credit to tradingarsenal
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