Quizzes
Gartley
· XA can be any impulsive size.
· B point – retracement to .618
· C point – retracement between .382 and .886 of AB, preferably to .618.
· D point – D reversal to .786 pulled from X to A. Add Fibo expansion BC and look for 1.272 and 1.618 as a confluence. Look for 1:1 extension symmetry.
Short or long point D. SL below or above point D.
TP1 = WP of CD
TP2 = 1:1 extension of XA.
*1H+ TF only
Butterfly
· XA can be any impulsive size.
· B point – retracement to .786 of XA.
· C point – Retracement between .382 and .886 (most of the time price will retrace to WP)
· D point – reversal between 1.618 – 2.618 expansion of BC and expansion levels of 1.272 and 1.618 of XA = Zone of confluence.
Short or long point D.
SL below 1.618 expansion of XA.
TP1 – point D.
TP2 – WP of AD.
*1H+ TF only