Loading ...The Bearish Gartley
Mark appears to have nailed this with the general markets! Nice call sir.
DEFINITION of ‘Gartley Pattern’:
-In technical analysis, it is a complex price pattern based on Fibonacci numbers/ratios. It is used to determine buy and sell signals by measuring price retracements of a stock’s up and down movement in stock price.
Sir FGC, I wasn’t sure what the heck this thing was either. I found this info. Learn something new every day in investing huh?
For more info this is good:
http://www.investopedia.com/terms/g/gartley.asp
wow.. that is complex, i have never used gartleys. .my program does gartleys with a tool.. but dont have a clue how to use it.
I must admit i was really wondering about whether the miners would decline or go up and remained on the sidelines before fomc….thanks to mark i was very skeptical when it broke upwards… i dont think the miners can top without a false break out.
All that matters are the 61.8 and 78.6% retraces. Nothing else really matters. Actually pretty simple.
StockCharts does not seem to support the Bearish Gartley pattern
All one needs is a fib tool but stockcharts doesn’t allow for 78.6 do they? I’ve never been able to figure out how to do that 78.6% retracement on stockcharts.