Gartley Pattern
The Gartley Pattern is a chart pattern used in technical analysis to identify potential reversals in the market. It is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding numbers. The Gartley Pattern is a combination of Fibonacci retracements and extensions, and is used to identify potential buy and sell points in the market. The pattern is named after H.M. Gartley, who wrote about it in his book, Profits in the Stock Market.
History of the Gartley Pattern
The Gartley Pattern was first described by H.M. Gartley in his book, Profits in the Stock Market, which was published in 1935. Gartley wrote about the pattern as a way to identify potential reversals in the market. Since then, the pattern has been used by traders to identify potential buy and sell points in the market. The pattern is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding numbers.
Comparison Table
| Pattern | Fibonacci Retracement | Fibonacci Extension |
|---|---|---|
| Gartley | 61.8% | 127.2% |
| Butterfly | 78.6% | 161.8% |
| Crab | 61.8% | 161.8% |
Summary
The Gartley Pattern is a chart pattern used in technical analysis to identify potential reversals in the market. It is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding numbers. The Gartley Pattern is a combination of Fibonacci retracements and extensions, and is used to identify potential buy and sell points in the market. For more information about the Gartley Pattern, you can visit websites such as Investopedia, TradingView, and StockCharts.
See Also
- Fibonacci Retracement
- Fibonacci Extension
- Butterfly Pattern
- Crab Pattern
- Head and Shoulders Pattern
- Double Top Pattern
- Double Bottom Pattern
- Triple Top Pattern
- Triple Bottom Pattern
- Cup and Handle Pattern
