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Still Valid Gartely Pattern in GBPUSD 5min chart

Monday 4-5-2009

GBPUSD 5 min Gartley Pattern

Tuesday 16.00 a Gartely pattern started to form, it's a bearish one, started with a strong impulsive wave, followed by a corrective wave touched the 50 Fibonacci line, then continue with the main wave direction, then go high again to touch the 78.8 Fibonacci line, although the first corrective wave stopped at 50 as a resistance line, we still have a valid Gartely pattern, if you had a look at the main Gartely pattern rules, we'll find that first wave could stop at 50 Fibonacci line instead of 61, and the second wave could touch 88.6 instead of 78.8, and we still have a valid Gartely pattern, open your chart at the specific date or check the chart below

 

 Bat Pattern, Perfect one in GBPUSD 5 min Gartley Pattern

Bullish Bat pattern, this pattern is simply followed the rule, touch 38 line, then 78 line and went in the opposite direction and touched 1.38 line, if you want to see how the Bat pattern is looks like, simply see this one and make more focus and try to make this shape is familiar to your eyes to catch it easily once you see it, this one started Thursday, May 7 at 21:20

 

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