Gartley or AB=CD from the 61% retracement level
We have a Gartley or AB=CD potential from the 61% retracement level.
Volume is drying down which is a leading indicator of price.
SPX500 regularly tests the 78% range which was going to make the setup called Gartley 222.
I personally look for these at the 61% levels and the 78%.
Quite possible to see a few stop hunts until we see a decisive move down,
but some reaction on the downside might give us a good trade setup.
Happy trading!
Volume is drying down which is a leading indicator of price.
SPX500 regularly tests the 78% range which was going to make the setup called Gartley 222.
I personally look for these at the 61% levels and the 78%.
Quite possible to see a few stop hunts until we see a decisive move down,
but some reaction on the downside might give us a good trade setup.
Happy trading!
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Post mortem: The Outside bar is a nice trigger point. Takes the stops from the range above at 8 CET and starts a beautiful move down.