Sive Morten
Special Consultant to the FPA
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but sive, the D point is below the X point. so how could it be a gartley?
also, are you saying that even if such a pattern appears as we have here, BUT because it's not at a bottom, therefore we should disregard it? only consider bullish gartleys and variations as significant if they appear at bottoms, and vice-versa?
Oh, I didn't catch it. If so, then it is not even "222"...
Triantus, under every pattern lays some market mechanics, some foundation. This is not just "picture". Mostly by this fact butterfly "Buy" could appear only on bottom.
May be there will be some pattern that looks like Butterfly "Buy" at top, but we can't call it like that and we can't apply the same rules to trade it, because this pattern will have absolutely different foundation in terms of market mechanics.
It almost the same, as you will see H&S on bottom, or reverse H&S on top. How to trade it? What to do if bullish reversal pattern, say, reverse H&S appears on top - buy or sell? What foundation does it have?