”The Great Gartley Controversy”
I want to outline something interesting here. I quote from the article above:
”It is important to note that there are others who have assigned different Fibonacci numbers to the framework of the . However, they have used a variety of Fibonacci numbers at the D points, essentially labeling any pattern as a if it completes at a 0.618 or 0.786 without regard for the precise alignment. This has created much confusion among the technical community and it has challenged the reputation of the pattern.”
Before going further into this, I also want to note a key takeaway from this quote. When he says that there are ”others” who have assigned different Fibonacci numbers to patterns, he is talking about Larry Pesavento.
In the article above, Carney talks about people spreading misinformation, when in fact it turns out he’s actually the one doing it.
He went on to market it, and of course the brokers loved it!
Pesavento simply explained that what we are looking for is golden triangles
Carney makes it very complicated.
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