WFM is nearing the completion of a bullish Gartley pattern. In the PRZ of the Gartley, a bullish Wolfe Wave structure is also emerging. Missed monthly pivots sit above price to add to the bullish bias. The overall trend is up, so this area could also serve as an ABC zig-zag EW corrective structure before the uptrend continues. SL is placed below X with targets at .618CD and the BC terminus.
Confluence in the PRZ:
Bullish Gartley pattern completion
.618XA (Orange)
1.272BC projection
AB=CD
Missed monthly pivots above price
Bullish Wolfe Wave setup
Overall uptrend
RSI Oversold
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quick question bro, why catch the impulse from 17.04 and not 3.80?
glennmercer
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Hi Ahmed, I'm not quite sure to which levels you are referring. The idea behind this trade setup is to catch the bounce from around $30 to about $46. Hope this helps.