Completed bullish gartley could take us up a notch.
Shown in the picture is a bullish (small green) Gartley that is just finished. The markets reaction is already UP, as this pattern would predict. Note however that the market is also "textbook" following the bigger bearish Gartley in which the smaller bullish one is located. Keeping all the ratios withing the Gartley-valid-values, this could take us up to 550. Exactly where tough resistance will be waiting for us.
Does this all seem familiar? Well, the first drop from 680 started a pattern just like this (Small bullish G in larger Bearish one) which also played out perfectly. So there's a nice fractal for ya.
Do note however the months old trendlines in both the RSI an UO. I am already long with basic stoploss. When these trendlines break, and it seems like they are breaking as i write this (knock on wood), i will be a hardcore believer until 550.
Does this all seem familiar? Well, the first drop from 680 started a pattern just like this (Small bullish G in larger Bearish one) which also played out perfectly. So there's a nice fractal for ya.
Do note however the months old trendlines in both the RSI an UO. I am already long with basic stoploss. When these trendlines break, and it seems like they are breaking as i write this (knock on wood), i will be a hardcore believer until 550.
Penafian
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