Sure George , first forget using it to spot 3 bar reversals because it doesnt work in real time . Sorry about that but it is not an issue to me because all you need it for is spotting bars that either close higher than the prior bar (CHPH) or close lower than the prior bar (CLPL) .
Second , configure it so the CHPH and CLPL bars are brighter than the bars that only close lower or higher than the last close . In other words what is significant is the bar closing above or below the last bar showing conviction of price movement .
Thirdly , you need to know where price is and where it has been and where it is likely to reverse . Not necesarily reverse the trend but signal that a retracement is through and price is ready to continue in its prior direction ( the bar closes BRIGHTER ). Maybe a retracement to 50% of the last leg then a doji then a brighter bar favoring the trend .
Thats one way to use it , there are many other ways but its best to learn on your own - give a man a fish / teach him to fish so to say .
Some of this is what is/was called AHG method and if you search on ET for aneks old thread discussing price action trading it makes for fascinating and gripping reading . I joined the forum for AHG but sadly it never materialized into anything useful .
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After that , the 3 bar reversal paintbar is just a tool for trading and probably the only indicator you need . You cant build a house with just a hammer . Its not the one thing that will give you an edge but its a simple device and the simple stuff is usually the most effective .
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Can't really see your Gartley, are reffering to the big swing from 11/12, til now? Because if that's it, then you don't have a Gartley there. It might be a Buterfly instead (but you have to measure the relationships in order to get it right). But no Gartley because (in case you're measuring point X from 11/12 10,45 then your CD swing has passed above the X, which makes the Gartely invalid.
Yes you are right, but as last leg prolonged, so may be it will be converted to CRb, still not crab,. It is not butterfly, as retracement is just 61.8 % that is reqirement of Gartly and Crab. Further it is Bat as retracement more than 50%. If retracement was 78.6 then it could be Butterfly, Now as it prologed more due to TVGR, so more chances that it could be converted to Crab. I just say Ready to be, There are so many options in gartly and Crab. Now I am looking it as Crab, as it prologed, so next X will be 1.618 and B will be 224. Now Projected D point may be 608.6 as on this price X will be 161.8 and B projection will be 224. Lets see what happen.
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