See how volume was drying down and was not validating the rising price.
Then we had this red Outside bar on raising volume that occurred at the exact 1 to 1 point.
Also, it occurred above a previous high so we might imagine that stops were taken.
This was also the 61% retracement.
Another confluence point is a Divergence from both the 8 and 14 period Stochastics which adds up to have an explosive move.
You don't need two, one is just fine.
it's for sure an after-the-fact observation, but these Gartleys or Spring take some time to set up, and then when they go they go. With the good ones you rarely have a chance to enter back into the trade. Just observing - one of the targets I use is the 161% extensions of the recent pullback so let's see if the price will go there.
Then we had this red Outside bar on raising volume that occurred at the exact 1 to 1 point.
Also, it occurred above a previous high so we might imagine that stops were taken.
This was also the 61% retracement.
Another confluence point is a Divergence from both the 8 and 14 period Stochastics which adds up to have an explosive move.
You don't need two, one is just fine.
it's for sure an after-the-fact observation, but these Gartleys or Spring take some time to set up, and then when they go they go. With the good ones you rarely have a chance to enter back into the trade. Just observing - one of the targets I use is the 161% extensions of the recent pullback so let's see if the price will go there.