Bearish Gartley is formed of four sequential price movements or trends. Bearish Gartley is visual, geometric price/time formations, and it looks like typical “W”. This formation has ABCD decrease formation which follows an important peak level ( X point).
Bearish Gartley is a premise indicator. Bearish Gartley helps to decide when short position is entered, and how it is entered or when it is exited from purchasing position, and how it is exited.
Why is it important?
Probability of succes of Bearish Gartley is high in almost all markets and time zones (intraday, middle and long terms). It helps to determine opportunity of short position.
There is a X dip ,at which is significantly low level, in front of ABCD formation. It intersect with Fibonacci extensions. It is seen that B point is formed of joint two triangles. Bullish Butterfly is found just in the peak and the bottom.
How is determined?
Bullish Butterfly is seen in the form of M like in the Bearish Gartley. However, Bullish Butterfly is formed of two unaffiliated Fibonacci extensions while Gartley based on intersections in Fibonacci.
Symmetry among two triangles, which are intersected at B point, creates principal focus of Bullish Butterfly. Purchase signal or selling signal is given at D point in Bullish Butterfly like in the other geometric formations.
- Date: 04 December 2016 Sun 23:43
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