Gartley pattern

1. What is Gartley pattern?
2. Is Gartley pattern bullish?
3. What is a Bat pattern?
4. Who invented Gartley pattern?

What is Gartley pattern?

The Gartley pattern is a harmonic chart pattern, based on Fibonacci numbers and ratios, that helps traders identify reaction highs and lows. In his book Profits in the Stock Market, H.M. Gartley laid down the foundation for harmonic chart patterns in 1935.

Is Gartley pattern bullish?

Most Gartley patterns are for overall bullish trends (as the point from X to A is moving upwards) that is currently experiencing a bearish retracement. Since the pattern is a member of the Harmonic family, every swing has to conform to particular Fibonacci levels.

What is a Bat pattern?

… the Bat pattern is a retracement and continuation pattern that occurs when a trend temporarily reverses its direction but then continues on its original course. ... it gives you the opportunity to enter the market at a good price, just as the pattern ends and the trend resumes, and has a bullish and bearish version.

Who invented Gartley pattern?

Gartley pattern is a 5-point structure which was originated and outlined by HM Gartley and later further detailed by Scott Carney.