GartleyPossible Targets 2: 466 to 530.
Targets 2 are long term targets and perhaps a good idea to focus on targets 1 (o:
The Gartley is a common pattern in the markets. B is at the .610 retracement of the XA leg. Sedge is a few dollars short of this but the landing pad, D, was right on target at the .786 fib level. The Gartley pattern, a harmonic pattern, is a retracement and continuation pattern that occurs when a trend temporarily reverses direction before continuing on its original course. There is also a bearish version which would look like a crooked W and starts with a leg down verses a leg up (XA).
This is also an AB = CD pattern and if you think you are looking at a Gartley, draw your AB leg, then using the magnet, move it to start right below C. There are other harmonic patterns that can follow close to the same pull back of XA on the AB leg, so you do have to wait for the landing pad to know for sure (and nothing is for sure in the market) LOL. There is often volatility when a security is trying to find the point of completion. But you can start trying to figure out which harmonic pattern you are looking at on the AB leg and where it completes at. If C is above A, you do not have a Gartley, but it may be a Cypher or a Shark pattern.
These patterns help you get in at a point that is close to where you need to be. This pattern often appears to be a triple or double top of some type, and in reality, I guess it is. Many get out of the trade when C does not make it to A..so the selling exacerbates.
Any pattern can fail )o:
The pattern is often referred to as Gartley222 because H. M. Gartley first described it on page 222 of his 1935 book Profits In The Stock Market.
Not a recommendation
Volatile stock. If you do not like the long entry one day, try waiting for the next (o:
