Weak Gartley completion at lower trendline
Updated
So I need to start by saying, this bullish Gartley Advanced Pattern is not truly valid. A proper Gartley of any flavor requires a precise .618 retracement of the XA leg, and as you can see, this one missed it's mark by .03. Decide for yourself if you think that's a deal breaker. The 'D' completion point of the pattern sits right on top of the lower trend line. Also be aware that the trend lines define an ascending wedge on higher time frames, so, while I can see a pull back to find resistance- ultimately I expect we will fall out of the wedge as it is a bearish pattern. Be that as it may, our lower time frame trade will have us short to the pattern completion, then long off the bullish gartley. Best of luck.
Trade active
This trade is now active.Trade active
Trade closed: target reached
So officially the short trade down to 'D' completion was a great success. The long off the bullish reversal however was stopped out by a panic spike down... if you were trading with stops.
Disclaimer
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.