Gold/USD
Key Characteristics of the Bearish Gartley Pattern:
Initial Move (XA): The price movement starts with a significant bullish move from point X to point A.
Retracement (AB): The price then retraces from point A to point B, typically retracing 61.8% of the XA move.
Extension (BC): Following the AB retracement, the price moves again in the direction of the initial XA move to point C, which is typically 38.2% to 88.6% of the AB move.
Correction (CD): Finally, the price makes another move from point C to point D, which is an extension of 127.2% to 161.8% of the BC move. Point D is usually at the 78.6% retracement of the XA leg.
Initial Move (XA): The price movement starts with a significant bullish move from point X to point A.
Retracement (AB): The price then retraces from point A to point B, typically retracing 61.8% of the XA move.
Extension (BC): Following the AB retracement, the price moves again in the direction of the initial XA move to point C, which is typically 38.2% to 88.6% of the AB move.
Correction (CD): Finally, the price makes another move from point C to point D, which is an extension of 127.2% to 161.8% of the BC move. Point D is usually at the 78.6% retracement of the XA leg.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.