Ghost pattern overlay onto the 4hr chart from 01/2016 is almost identical as where we're at now. Gartley patterns are a little tough for me to consider, since too often, one is followed by the opposite. In this case, the "W" took it's toll on the bulls. W/ the bullish gartley forming, oversold MFI, pullback on MACD as well as the MA's, I can only see the gap to $268 before having the next resistance be 200SMA. I use these MA's pretty frequently; like a stop light. Green being the most recent MA, yellow as 15EMA, red as either 20MA or 23EMA. 50 & 200 MA are better yet confirmations of breakouts. The order in which one crosses over / below the other, is nonetheless the most important factor of the reliability of a trend. Seeing as 01/2016 4hr cross below 200MA had not only similar pattern, but the lineup of all moving averages in order to breakout. If not Monday, confident might be an understatement of seeing a gap up to / above $268. $275 should be right around the corner.
Comment:
Time is tickinggggggggg