AUD.NZD

[Xerof]

Has met my target, no real sign of a top, but sold NZD at 9350

On my chart posted above, its met 1.272% extension of smaller butterfly, and 78.6% of larger Gartley.

Surely that must count for something [:0][:0]

Xerof

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1.069518716577540106951871657754 just approximately

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well it sure seems like a bullish gartley to me zerof

[Xerof]

copy your image link from the second band of options below the thumbnails peat, then take out the extra bits, just leaving the image code. The thumbnails don't seem to work....

Haven't got a calculator that goes to that many decimals, so will take your word for it mate

yes definitely a bullish G, but could develop a pair of wings and go lower (or higher, if you remain loyal to the NZD and quote it as lead currency)

Xerof

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hope thats not too small for your old eyes

[Xerof]

its abit dark init - best you print them during the day [8D][8D]- wotisit - some african poisonous snake?

scale it down to 60% before you save it to your temp files

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yeh i'll shrink them in future sorry.....
normally use candles too.... but just wanted to make the shape clearer

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when does the bullish gartley get broken ?

[Xerof]

See the chart for details, but the larger Gartley (Blue) has probably already gone a little further than "ideal" (AB=CD).

The smaller bullish butterfly (Red) though, is still probing the reversal zone - this is what I am relying on for a turnaround trade.

But if the larger Gartley were to evolve into a full scale butterfly, there is quite some way to go lower, targeting 1.0400 to 1.0200

Under 10600 and it'll be all over Rover, I would think

Not entirely sure if my larger gartley is valid, and of course it is dangerous to 'front-run' an anticipated completion anyway. Even the smaller butterfly has not displayed any turnaround ....

Arco has a third formation (shown on his last graph), where the formation completed and is still running down. He has some targets shown on that graph.

And he is right to suggest waiting for completion and definite signs of a turnaround before entering.



Xerof

[arco]

Good Morning Xerof

With respect, the red Butterfly cannot be classed as valid because the C leg is higher than the A leg.

I will post an updated chart ASAP.

arco - back in the Hot Seat