Hey traders! Short lesson in wave theory and pattern analysis here. Advanced patterns and EW theory are great supplements to one another. I find that the most successful advanced patterns are "pieces" of waves and that each pattern correlates directly to a corresponding wave count. I like the Gartley for trading zig-zags because we can target higher targets than the XA termination of the advanced pattern. Here, a Gartley could complete to spark the rally to the end of a zig-zag. From target, we can either continue into a double zig-zag or continue the drop toward bearish targets. Happy trading!
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This one's filled, everybody. Let her ride! I've moved my SL to B/E
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T1 Achieved! Excellent price action out of the PRZ as predicted by the EW count. EW correction + Gartley pattern can be a powerful combination
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That's all folks! Nice victory on a 5:1 48 pip run. I added more at the completion of a triangle reversal, see below: