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I my opinion the bigest problem with ABCD formations ( Gartley, Crab, Batt, Butterfly etc.) is the end of them. What I mean by the end. The end is D price and time area. Of course credit to Larry Pesavento for all those formations but how many of you lost trades because you enter in wrong D area at the end of formations ABCD. I think it is the weekest part of this method. Those formations look beautiful but still we must have new version of ZUP's and ZigZag"s. Anyone of you have solutions to this weekest part of this method ? Do you have any indicator or harmonic method that helps you to enter in right place and not to loose trade?
ZZ_p indicator may help but it has weakness as well, it can rewrite istself. When ZZ is up it should show D. It is just idea to help but harmonic numbers of pips are better.
Here is where you are going wrong.
You are letting the indicator (I will guess it is zup) tell you you have a gartley,or some other pattern.
The Zup works off the zig zag indicator.
I am not saying do not use the zig zag, bucause It is one of my favorite indicators. But first you need to read some books on harmonic patterns, learn to reconize them without an indicator (zup)
Try adding another indicator to your charts like the MACD, or my favorite RSI
to confirm the pattern
The RSI will confirm the pattern by makinga "M" pattern for a sell or a "W" pattern for a buy and will work on any time frame. Spotting the "M" or "W" on RSI is money in the bank if you can confirm it is a Gartley
Here is where you are going wrong.
You are letting the indicator (I will guess it is zup) tell you you have a gartley,or some other pattern.
The Zup works off the zig zag indicator.
I am not saying do not use the zig zag, bucause It is one of my favorite indicators. But first you need to read some books on harmonic patterns, learn to reconize them without an indicator (zup)
Try adding another indicator to your charts like the MACD, or my favorite RSI
to confirm the pattern
The RSI will confirm the pattern by makinga "M" pattern for a sell or a "W" pattern for a buy and will work on any time frame. Spotting the "M" or "W" on RSI is money in the bank if you can confirm it is a Gartley
hi guvyer
please can you post an image with the M and W as an example.
can you also explain how i attach an indicator into post,because i found this indicator on my computer called FIBGEN which draws X A B C D and fib levells
i hope it may be usefull thanx
Linear Mode
