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Patterns
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Like
The P
Pros
Suri Duddella
December 13, 2007
Disclaimer
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information provided here is for educational purposes only, and does
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, is
Book
300 Pages
8.5 x 11 Book
65 Patterns
225 Ch
225+
Chartt Illustrations
Ill t ti
Precise Entries/Exits
Targets/Stops
$60
Book Overview
4 yyears in making/data,
g
, 24 months of writing
g
Written for Traders with Trading Perspective
More p
practical than theoretical
Emphasizes howhow-to of pattern recognition
Each pattern with brief synopsis, 22-4 examples
Precise entry and exit techniques
Each example with stops/targets
No Oscillators, Indicators or Statistics
Chart Types
yp ((Basic types,
yp , 3LPB))
Bar Groups (Market structures, NR7ID)
Pivots ((Floor,, Fib. Zone,, Open
p Range)
g
)
Geometric (Triangles, Rectangles)
Harmonic (ABC, Gartley, Butterfly)
Price Action (Head & Shoulders, C & H)
Top and Bottoms (V, Double, Triple)
Exotic Patterns (Dragon, Sea Horse)
Channels (Donchian, Pitchfork, LRC)
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F
it Patterns
P tt
Pattern Trading .
There are NO Perfect Patterns
All Patterns Fail Key is to know when to
Trade
Trade them and when to Avoid
Avoid them
There is no single pattern which is a
Holygrail
H l
il
Patterns must be clearly visible Do not
FORCE a pattern
Trade Chart Patterns Like The Pros
Top 5 Patterns
1 Trader Vic
1.
Vics
s 2B Patterns
2. Fib. Zone Pivots
3. ABC P
Patterns
tt
(A
(Auto)
t )
4. Dragon
5. X5 Patterns
Gartley,
y Butterfly,
y Crab, Bat
Trader Vics
2B
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Trader Vics
Vic s 2B Patterns
Victor Sperandeo Trader
Trader Vic
Vic
Principles of Professional Speculation
Speculation
Irregular
I
l D
Double
bl T
Top or D
Double
bl B
Bottom
tt
Trader Vics
Vic s 2B Top (Sell)
2B Sell (Rules)
Must make a New High
Decent Retracement
Close above New High
No Follow Through
Close below Breakout Low
Short: below the Low
Target Major Swing Low
Stop: Above Breakout High
2B Top
((Sell))
Trader Vics
Vic s 2B Bottom (Buy)
2B Buy Rules
A New Low
Decent Retracement
Another Low below New Low
No follow Through
Close above Breakdown High
Long above Breakdown High
Stop below the Low
Target a Major Swing High
2B Long
(Example)
2B Patterns
Fib
Fib. Zone Pivots
Uses Previous days
day s
Open, High, Low, Close
Fib Z
Fib.
Zone Pivots
Pi t
(method)
Fib
Fib. Zone Pivots
Fib. Zone Pivots
Pivot Point (PP) = (H+L+C)/3
Daily Range (DR) = (H(H-L)
First Resistance ((R1)) = PP +
0.5*DR
Second Resistance (R2) = PP +
DR
First Support
pp ((S1)) = PP 0.5*DR
Second Resistance (S2) = PP
DR
Resistance Band (RB1) = PP +
0.618*DR
Support Band (SB1) = PP
0.618*DR
Fib. Zone
Pivots
Fib. Zone
Pivots
ABC Patterns
ABC Patterns
A
H
H.M.
M Gartleys
Gartley s Book
Book
3-Pivot, 11-2-3 Waves
Li ht i B
Lightening
Boltlt
B
Trend, Retracement, Trend
AB = CD Pattern formation
Trade in the Direction of the Trend
AB = CD Structures
ABC Bullish
ABC Bullish Pattern
2 to 3 bar Pivot Strength
Must have at least 62%
Retracement
Entry: After ABC pattern,
Long Above the High of
Previous Bar
STOP: Below C
Target: Between 100% of
AB and 127% of BC
ABC
Bullish
ABC
Bearish
ABC Bearish
Dragon
g
Dragon
Double
Double Bottom
Bottom or Double
Double Top
Top Pattern
Head, 22-Legs, Hump, Tail
H
Hump
fforms between
b t
38 tto 50% off R
Range
Draw Trendline from Head to Leg1
Potential Divergence in any Momentum
Indicator ((CCI,, RSI))
Look for WideWide-Range Bars in Leg2 for
Signals
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Dragon
Trading
Dragon
Dragon
Dragon
Inverse
Dragon
Gartley Patterns
X5
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X5 Harmonic Patterns
H. M
H
M. Gartley in 1930s
1930 s
Larry Pesavento (Fibs), Bryce Gilmore
(Butterfly) and Scott Carney (Bat
(Bat, Crab)
Gartley/Bat (Retracement Patterns)
Crab/Butterfly (Extension Patterns)
Gartley Setup
A
C
B
D
AB = CD
B >= 61.8 of XA
Buy above D
Gartley
H.M. Gartley
Gartleyss Book Profits
Profits in Stock Market
Market
Harmonic Pattern
Retracement Type
Gartleys Center B is < 61.8% of XA
D
D (Action point) within XA
Success rate of all Harmonic Patterns < 6060-70%
Look for Potential Reversal Zone (PRZ)
Price--Action in PRZ is very critical for success
Price
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Gartley
(Bullish)
Gartley
(Bearish)
(B i h)
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