Here we see a Gartly pattern with a respected linear regression, suggesting the market will rally even higher for Verizon.
the RSI suggests that the market is not over bought and the linear regression shows an obvious uptrend as well as the Gartley pattern suggesting a move up, so i have decided to get in long.
I have place my entry at current market price because it is around the B point of the Gartley pattern, and that usually gives me a roughly 2:1 risk reward ratio.
I have placed my stop at the lowest low of the pattern and my limit at the 1.618 extension of the BC leg, expecting the market to bounce off the the channel and rally back up into that 1.618 extension.
Thanks for tuning in, comment and like if you agree, feel free to follow for more updates, and as always, Good Trading!
the RSI suggests that the market is not over bought and the linear regression shows an obvious uptrend as well as the Gartley pattern suggesting a move up, so i have decided to get in long.
I have place my entry at current market price because it is around the B point of the Gartley pattern, and that usually gives me a roughly 2:1 risk reward ratio.
I have placed my stop at the lowest low of the pattern and my limit at the 1.618 extension of the BC leg, expecting the market to bounce off the the channel and rally back up into that 1.618 extension.
Thanks for tuning in, comment and like if you agree, feel free to follow for more updates, and as always, Good Trading!