Gartley
Earnings 10-19 AMC.
The Gartley pattern is a harmonic chart pattern, based on Fibonacci numbers and ratios, that helps traders identify reaction highs and lows. In his book Profits in the Stock Market, H.M. Gartley laid down the foundation for harmonic chart patterns in 1935.
There is an impulse wave or leg in the bullish version, XA, and it is a move up. In the bearish this leg is a move down. The retracement leg, AB, should hit right around the .618. This one hit just about on the dot. The final leg, CD should hit right around the .786 of XA.
Possible stop under D
No recommendation
The Gartley pattern is a harmonic chart pattern, based on Fibonacci numbers and ratios, that helps traders identify reaction highs and lows. In his book Profits in the Stock Market, H.M. Gartley laid down the foundation for harmonic chart patterns in 1935.
There is an impulse wave or leg in the bullish version, XA, and it is a move up. In the bearish this leg is a move down. The retracement leg, AB, should hit right around the .618. This one hit just about on the dot. The final leg, CD should hit right around the .786 of XA.
Possible stop under D
No recommendation
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