in
Paul's Musings
- 17 Feb, 2013
USDJPY Gartley Pattern Invalidation
Good example here of a Gartley pattern starting to form up and then becoming invalid.
All the levels were correct we just had to wait until the D point was formed to take the short .
As can be seen the d point was not reached and as soon as the price broke below the C point the emerging pattern was invalid.
It is important to be able to recognise a failed pattern as well as a complete pattern and this example shows this well