Gartley 222 or ABCD at 78% retracement
I am placing an order where the red box is. Entry is the upper side and stop loss is the opposite end.
Placing my order behind a previous low where naturally stops will reside - this low is also a previous daily bar low. My entry and where the AB=CD ends is at the 20 Daily Moving Average so expect a bounce from there.
The fans of harmonic patterns can recognize this structure as a Gartley 222.
Placing my order behind a previous low where naturally stops will reside - this low is also a previous daily bar low. My entry and where the AB=CD ends is at the 20 Daily Moving Average so expect a bounce from there.
The fans of harmonic patterns can recognize this structure as a Gartley 222.
Order cancelled:
The idea is no longer valid, there was a Spring action last night.