V. 19:4 (52-56): The Butterfly Setup by Rudy Teseo
Product Description
Pinpoint This Pattern
The Butterfly
Setup
There’s more than one way to use harmonic patterns to find likely buy/sell candidates. by Rudy Teseo
If you’ve looked for Gartley patterns while scrolling through your charts, it’s more than likely that you’ve discovered some patterns that resemble the Gartley but slant downward rather than upward, the way that the Gartley setup does. This pattern — sort of Gartley, sort of not — is known as the butterfly. Like the Gartley, it comes in two forms, bullish and bearish.
The bullish butterfly is similar to the Gartley. However, although the same ratios are used as the Gartley setup — 61.8, 78.6, 1.27, and 1.618 — they occur at different parts of the pattern. This results in a point D that is lower than point X, as can be seen in Figure 1. But I should note that this is an ideal pattern; not all ratios will match the ideal in the real world, even though the pattern is a legitimate butterfly.
There’s more than one way to use harmonic patterns to find likely buy/sell candidates. by Rudy Teseo
If you’ve looked for Gartley patterns while scrolling through your charts, it’s more than likely that you’ve discovered some patterns that resemble the Gartley but slant downward rather than upward, the way that the Gartley setup does. This pattern — sort of Gartley, sort of not — is known as the butterfly. Like the Gartley, it comes in two forms, bullish and bearish.
The bullish butterfly is similar to the Gartley. However, although the same ratios are used as the Gartley setup — 61.8, 78.6, 1.27, and 1.618 — they occur at different parts of the pattern. This results in a point D that is lower than point X, as can be seen in Figure 1. But I should note that this is an ideal pattern; not all ratios will match the ideal in the real world, even though the pattern is a legitimate butterfly.
FOR THOSE ORDERING ARTICLES SEPARATELY:
*Note: $2.95-$5.95 Articles are in PDF format only. No hard copy of the article(s) will be delivered. During checkout, click the "Download Now" button to immediately receive your article(s) purchase. STOCKS & COMMODITIES magazine is delivered via mail. After paying for your subscription at store.traders.com users can view the S&C Digital Edition in the subscriber's section on Traders.com.
| Take Control of Your Trading. |
| Professional Traders' Starter Kit |
| All these items shown below only $299.99! |
| Click Here to Order |