Very close to a Bullish Gartley but did overshoot the 0.786 by a small amount before turning back up.
The Gartley is a harmonic pattern and the 2nd peak will be lower than the first peak. The pullback or retracement from XA (impulse wave) should hit the .618 and is labeled B. TWTR hit the .618 on the retracement .618 on just about on the nose. D should land at the .786 of XA. This one overshot the .786 slightly. Landing pads are often volatile and you have to cut some slack sometimes (o:
The Gartley looks like a crooked M. The landing pad is most often an area of confluence where things come together, very often a previous area of support.
Possible stop below last pocket pivot or a place you see strong support. Placing a stop under D would be ideal had you been in this closer to D.
No recommendation.
There may be resistance at the top of the prior gap down.
Harmonic rules tell us this is not a Cypher or a Shark because the second peak is lower than the first peak in the pattern.
Tough one for me because this is Not one of my fave stocks...LOL
The Gartley is a harmonic pattern and the 2nd peak will be lower than the first peak. The pullback or retracement from XA (impulse wave) should hit the .618 and is labeled B. TWTR hit the .618 on the retracement .618 on just about on the nose. D should land at the .786 of XA. This one overshot the .786 slightly. Landing pads are often volatile and you have to cut some slack sometimes (o:
The Gartley looks like a crooked M. The landing pad is most often an area of confluence where things come together, very often a previous area of support.
Possible stop below last pocket pivot or a place you see strong support. Placing a stop under D would be ideal had you been in this closer to D.
No recommendation.
There may be resistance at the top of the prior gap down.
Harmonic rules tell us this is not a Cypher or a Shark because the second peak is lower than the first peak in the pattern.
Tough one for me because this is Not one of my fave stocks...LOL
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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.