Following is a chat on Gartleys and other insights that googles gave on Jan 8, 2002:
google_2: ok, I'll post a couple of charts
google_2: right now
amer_68: eyes focused ears perked
google_2: posted one, the other is on the way
r7: Chart names?
google_2: all charts begin with google
google_2: in today's folders
google_2: let me know when I should start
dave_b_quik: ok, nice charts
raz_62: google_nq_60_minutes1.jpg
google_2: let me get some stuff out of the way first
google_2: I rely on pattern recognition more than anything else
google_2: been trading for only 1 year
google_2: used all kinds of indicators first 6 months
google_2: so I came across t his trader
google_2: which recognized right away that I can spot certain patterns
google_2: and he told me to throw all indicators away
google_2: and this is where I'm right now
google_2: ok, after this lame intro :-)
google_2: so I caution you that what I'm doing might look weird but that's what I see
google_2: first chart is the 5 minute chart
google_2: can everyone access it?
amer_68: y
ann_87: yes
r7: y
google_2: ok, the pattern looks straight forward but there're certain things I should mention
google_2: best gartley setups occur over the course of the day
Buffy_04364: google_nq_5_minutes_gartley1.jpg
google_2: ok
google_2: now again the best gartley develops over the course of the day
google_2: ideal setup is what you see in the chart
google_2: now for it to work, the following must be considered
google_2: in this case a lower low
google_2: occurs around midday
google_2: which is really an ideal time for reversing morning trend
google_2: look when the bottom formed
google_2: noon
google_2: now there're other subtle points here
google_2: this arc as I was told indicates that the market has an objective
google_2: and most players want to get there fast
google_2: from what I've seen those arcs work well in indicating a counter move
google_2: you can see that on the daily and weekly chart of the compx and ndx
google_2: culminating in Sept. 21 low
gravestonedoggie: arc is what? the pullback?
google_2: I can post that later, but check it
google_2: gsd, I should've labeled the waves
google_2: looks like a bow
gravestonedoggie: arc is the countertrend bounce?
google_2: no, the second leg down
google_2: to 1650
Buffy_04364: you can pull it back with snagit and label them later google
google_2: it's not a straight line but rather a concave curve
gravestonedoggie: ok
google_2: ok buffy
gravestonedoggie: thnx
google_2: give me 1 sec.
gravestonedoggie: I see
google_2: ok done
google_2: posted
google_2: cd is the arc
google_2: or bow
google_2: now, those subtle formations is what I look for
google_2: I also find that wave 5 is an arc most of the time
google_2: because the market knows that target is close
google_2: so there are no bids till it's hit
gravestonedoggie: parabolic part of move
trader139: is this like a fib extension target
google_2: trader, good q
google_2: which takes us to d
google_2: look at where the wave stopped
google_2: 60 & 5 min. fib levels
google_2: d is 1.618 of bc
google_2: and if we go to the 60 minute chart we'll find that this level is also
google_2: 50% of prior swing
google_2: can everyone see that?
Buffy_04364: yes
google_2: gsd, yes
google_2: 5 minute
google_2: but would like to point out that on the 60 minute chart
Buffy_04364: google_nq_60_minutes1.jpg
google_2: there's a 50% fib level
Buffy_04364: that is for 60m
gravestonedoggie: cd is 1.6.18 of bc?
google_2: gsd, yes
gravestonedoggie: cd looks to be smaller than bc, not larger
google_2: cd is longer
gravestonedoggie: on 5 min chart
google_2: yes
google_2: a should be the hi of day
google_2: and work your way down
gravestonedoggie: cd is from 1700 to 1655, right?
Buffy_04364: no
pete77_1: Where is the chart with the abcd letters?
Buffy_04364: google_nq_5_minutes_gartley1.jpg
google_2: there're 2 of them
Buffy_04364: try that link
Buffy_04364: the labeled one replaced the unlabeled one
google_2: oh ok
google_2: now on the reversal
google_2: which is e
google_2: that level coincided with a fib level on 60 minutes
google_2: now let me mention something about fib levels
google_2: I don't use many fibs on intraday
google_2: rather on 60 minutes
google_2: if there's a large intraday swing I'll plot the line
google_2: if not, then I'll leave it out
google_2: 60 minute and daily fib levels are more reliable
google_2: if I see that there's a fib on any of those timeframes
google_2: I do enter the trade
r7: at what fib level?
google_2: in qcharts
google_2: it's easy
google_2: because they have most of them as default
shane o c: so you are looking at 5 min chart and watching 60 min fibs
google_2: let me give some examples
google_2: yes, 60 and 15 minutes is what I really watch
google_2: let me share with you some of the things I've noticed about fib levels
google_2: take a look at the 60 minute charts
google_2: chart I meant
google_2: on the right, price stopped at 50%
amer_68: Where top and bot for 50%
google_2: dec hi and low swing
google_2: it's just further to the left of the chart
google_2: should I resend?
google_2: dec,. 6 hi
amer_68: understand ok
trader139: on 5m is the move up to e related somehow to the prior move down from a to d?
google_2: also this applies to other fibs
google_2: 70.7 and 78.6
google_2: trader yes
google_2: de is almost 1.618 of cd
google_2: I've also noticed that 70.7 fib is used a lot in intraday
google_2: many use 61.8 and get faked
google_2: when it's taken out
Buffy_04364: the numbers on the left are fibs from another H and L correct?
google_2: posted revised 60 minutes
Buffy_04364: k
google_2: google_nq_60_minutes21.jpg
google_2: so going back to fib, I decided to plot 70.7 as well as 61.8 for intraday
google_2: and it does stop there more than often
google_2: ok so far?
Buffy_04364: yes
google_2: ok
trader139: great tip about 70.7
google_2: can we take a look at the 60 minute for a second?
google_2: I highlighted several things there
google_2: there's this saw in green
google_2: street smarts book calls them little Indians
google_2: some call them 3 humps
google_2: I don't really care lol
Buffy_04364: :-)
google_2: and I absolutely love
google_2: very reliable
google_2: especially on daily and 60 minutes
google_2: I know brach uses 5 waves to highlight it
google_2: the bottom line is to recognize it
trader139: 5 waves up
google_2: I can show you more examples of this pattern happening almost every other day
raz_62: on enthios site called 3hills and a tail
google_2: one of my favorites along with gartley
google_2: well there's a tail lol
google_2: ok now onto the next observation
google_2: I've highlighted a W on the 60 minute
google_2: also has to do with pattern recognition
google_2: moves in 60 minutes tend to move in Ms and Ws
google_2: I spend some time after hours just looking at it and seeing where the symmetry is
google_2: you can also see that it has potential for being a gartley
google_2: IMO this pattern has the potential for 2 large moves
google_2: the first one is a gartley reversal if we don't exceed the last fib of 1710
google_2: or it reminds me of the pattern taking place the first week after Sept. low
google_2: cup and handle
google_2: can you see it?
tomsurf: yep, got ya
pete77_1: y
google_2: posted the sept. chart
google_2: look at the similarities between these 2
raz_62: wow
google_2: google_nq_60_minutes21.jpg
google_2: gradual on the break of the lower line
Gradual: Thanks....great info
google_2: now, let's take a look at today's pattern
Buffy_04364: very interesting google
google_2: nq intraday
google_2: everyone has it?
google_2: ok will post now 2 charts
google_2: first one is today's nq 5 minutes
google_2: google_nq_5_minute_today1.jpg
google_2: take a good look at it
google_2: just a pattern
google_2: everyone got that?
r7: y
pmtrader: y
pete77_1: y
Buffy_04364: y
google_2: ok here's another chart
gravestonedoggie: y
google_2: google_dow_weekly1.jpg
google_2: look at the dow chart
google_2: any similarities between the 2?!!!!
Buffy_04364: interesting
google_2: the dow is a weekly chart
raz_62: when do you start seeing the pattern
google_2: I probably turned off most of you by now
google_2: lol
google_2: but that's what I do, just look for patterns
google_2: nothing special about it
gravestonedoggie: those are 2 examples
Buffy_04364: it is special google it works for you
Buffy_04364: while all of us may not be able to see it all yet I am sure each has learned something new
tomsurf: True Buffy
google_2: well you got the charts
google_2: you folks have helped me a lot and I'm trying to do my bit
gravestonedoggie: nice
gravestonedoggie: pattern
gravestonedoggie: thnx
Buffy_04364: very much appreciated google
brandon_131: Thanks
google_2: next time I'll show you some other patterns
google_2: like the symmetrical decline
google_2: I know some want to see it
pete77_1: Very much appreciated
Hollie_: so what do you call this pattern here
gravestonedoggie: sure do!
tomsurf: Yes, googs, thank you for your time! :-)
hanksterr: your patterns are great, thanks for sharing
google_2: you're all welcome
raz_62: thanks
TL11: Thank you!
pmtrader: tnx
x21r: thanks G
QSuzy: Thanks, google.....great charts. You must have a special talent for seeing and remembering these patterns!
ann_87: thank you very much for your time google
laniermasters: enjoyed your different perspective
Hollie_: interesting google
Hollie_: tks
hanksterr: also like the fib info and tips
google_2: now if I can straighten out my technology lol
gravestonedoggie: very well done, google, thanks
google_2: pc needs CPR
google_2: lol
amer_68: When did you first recognize that today's pattern occurred on the weekly?
gravestonedoggie: let us know if we can help
google_2: amer, when we broke to the upside
gravestonedoggie: so that pattern often repeats, no?
google_2: no, that pattern is rare
gravestonedoggie: ok
google_2: I do know it occurred in March or April last year
gravestonedoggie: in both cases after triangle broke to upside, then failed
google_2: I print those patterns and bind them
google_2: so I'll look for it
gravestonedoggie: that is part of the pattern, too?
google_2: gsd, take a look at the dow chart
gravestonedoggie: I see it
google_2: :-)
gravestonedoggie: thanks
google_2: ok if anyone doesn't have any questions, I'll excuse myself
tomsurf: take care googs and thanks again.
google_2: see you all tomorrow
raz_62: bye
amer_68: So long and thanks again.