BHE: Benchmark Electronics Gartley Pattern
The market move sideways last few months, that creates a good opportunity for harmonic traders. However, the price was bullish last few days. It reached 30.8 and getting close to the major resistance level at 31.15
This is the main area where the buyers and sellers usually make their decisions. Sellers go short and buyers take profit, that cause the price to go down. Moreover, the Gartley pattern was formed and the price already hit its entry level, 127% AB Fibonacci extension. This increases the probability of this setup and provides a clear guidance where to enter and exit. I await the market to be opened today and then go short.
T1 – 38.2
T2 – 61.8
- Follow & Comment -
This is the main area where the buyers and sellers usually make their decisions. Sellers go short and buyers take profit, that cause the price to go down. Moreover, the Gartley pattern was formed and the price already hit its entry level, 127% AB Fibonacci extension. This increases the probability of this setup and provides a clear guidance where to enter and exit. I await the market to be opened today and then go short.
T1 – 38.2
T2 – 61.8
- Follow & Comment -
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