It wasn't news or some fundamental reason...

taking a look at the 4h GBPUSD chart at 30th August I'd spotted a quite badly battered and beaten bearish Gartley, using a setup around 1.9040 place...

To put it short, a bearish gartley has an urge move down from XA being the real leadership, then 2 corrective movements AB and CD and also AB size ought to be equal CB and some other nice details(relations should be fibos), however these may be thrown out of the window when things like FOMC ECB and NFP are there to completely distort a picture that has been shaped over one complete month...

I can prove that the installation was there on Aug 30th as I'd uploaded the gartley into imageshack then and warned some other fellow traders pre-NFP to look out for this. . .turns out that I was right and after exceeding the pre-planned origin by only 40-50 pips (considering we are talking 4 months measurement here and a goal that is about 400 pips that is just fine...) it then went to it. . .initial goal by me was expected to get a retest of 1.8775 and then potentially 1.87675-50....

Here we are at 1.8706...

Quite surprised it did finally unfold, but there you go. . .the power of patterns.

I am sure folks will find 50 other fundamental causes of this, but that does not alter the technical setup

Btw, there's also a smaller bullish gartley inside of this pattern, can you place it? Was worth / sized about 200 pips. . .here's a sign, the continuation began at 1.8830....can you see it? Option: Impulse X would be the A from the image. . .again, it's distorted and the measurements don't fit correctly, but the move was there and hit on the goal area of about 1.9050 fine, too....

Aren't patterns enjoyable

Since the picture is enormous I will provide a link only: Gartley

If you want to know more, you will find pages on the net in addition to on forums that have pretty pictures of those patterns


As you can see, on large timeframes they can be real profitable, but the hard part is spotting them as they occur! =-RRB-

Any remarks on this by additional gartley lovers?

P.S. I could be totally wrong on this, however since both setups seem to have unfolded like spotted I simply had to post this;D