Lesson 6 of 7
In Progress

Gartley & Butterfly

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