I am still in belief of the potential in this pattern. It could still very well play out. You are currently forming bearish divergence on the four hour time frame among the MACD (Not the RSI yet). Prices can still run up slightly further, but I do believe the 8400-8800 range highlighted in the green rectangle would be a potential buy in area. Triple MACD Bullish Divergence has already played out and we are still awaiting confirmation on the daily, which is why I believe we will sell off big one more time to our "PCZ" (Pattern Completion zone) Along with creating bullish divergence on the Daily time frame. I still would not take a trade in this buy area unless their were coinciding variables such as bullish divergence. Along with this potential longer term Bullish Gartley Pattern, it just very well happens to be coinciding with support around 8400-8500 area. For the time being, this just remains as a prediction or speculation if you will, but as time inches closer and closer, this pattern is looking to be more of a reality than a speculation, but we will see of course. I removed fib lines and excess lines to help clean up the chart. Targets are already stated, so fibs don't need to be displayed, but if you want to look back at the fibs, I do have a post on it. (I believe my last one if I am not mistaken)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.