Ive been wrong a few times on the formation for EDZ but I'm sure this is my final post. A near perfect Gartley has formed with price reversing right at the AB=CD 1.00 projection and a near perfect 0.618 point B. Right now would be a good time to enter the trade since price is retesting the PRZ. I'm trading this one.
Enter at 48.79 a share, stop at 45.96. I'd probably leave out the 3rd target but to target 2 the risk/reward is 3.76. Just a side note; this may not be a shark, I'm still new to harmonic patterns. If someone could confirm for me whether or not this is a shark I'd appreciate it.
I might be wrong with the categorization as a butterfly since AB doesnt hit 0.786 of the XA fib. It could be a bat that price went through its PRZ and continued on. That being said there is a divergence from the Stochiastic. I think a reversal is imminent, my gut says that price wont move all of the way to the 1.272. My gut tells me it may just barely pierce the PRZ.