Lemme tell you some basics of Bullish Gartley (Harmonic-Pattern)
AB: The AB move should be approximately 61.8% of the XA size. So, if the XA move is bullish, then the AB move should reverse the price action and should reach the 61.8% Fibonacci retracement of XA.
BC: The BC move should then reverse the AB move. At the same time, the BC move should finish either on the 38.2% Fibonacci level, or on the 88.6% Fibonacci level of the prior AB leg.
CD: The CD should be a reversal of the BC move. Then if BC is 38.2% of AB, then CD should respond to the 127.2% extension of BC. If BC is 88.6% of AB, then CD should be the 161.8% extension of BC.
AD: Then there is the last rule for the Gartley pattern. When the CD move is complete, you should measure the AD move. A valid Gartley on the chart will show an AD move, which takes a 78.6% retracement of the XA move.
ABOUT ALKYLAMINES . . (BULLISH GARTLEY)
14th May to 20th July: Stock sustains in a rectangular channel, Price & Volume contraction can also be seen in that time-period.
On 20th July fresh buying occur and bulls took the control over bears by creating buy on higher prices &
Stock made new high continuously for 4 trading session.
Between August 11 and August 16, such candle patterns were seen which indicated a decline and after that a huge amount of decline was also seen.
From 28 July to 26 August, a decline can be seen, this is because the bears took over the command and started selling in large quantities.
On a final day i.e. 27th August Bulls were seen buying in bulk and that too with huge volumes.
Conclusion: wait for pullback and try to accumulate on dips for targets 4402 & 4471 with strict Stop-Loss of 4000.
- XA: The XA move could be any price activity on the chart. There are no specific requirements in relation to the XA price move of the Gartley chart formation.
AB: The AB move should be approximately 61.8% of the XA size. So, if the XA move is bullish, then the AB move should reverse the price action and should reach the 61.8% Fibonacci retracement of XA.
BC: The BC move should then reverse the AB move. At the same time, the BC move should finish either on the 38.2% Fibonacci level, or on the 88.6% Fibonacci level of the prior AB leg.
CD: The CD should be a reversal of the BC move. Then if BC is 38.2% of AB, then CD should respond to the 127.2% extension of BC. If BC is 88.6% of AB, then CD should be the 161.8% extension of BC.
AD: Then there is the last rule for the Gartley pattern. When the CD move is complete, you should measure the AD move. A valid Gartley on the chart will show an AD move, which takes a 78.6% retracement of the XA move.
ABOUT ALKYLAMINES . . (BULLISH GARTLEY)
14th May to 20th July: Stock sustains in a rectangular channel, Price & Volume contraction can also be seen in that time-period.
On 20th July fresh buying occur and bulls took the control over bears by creating buy on higher prices &
Stock made new high continuously for 4 trading session.
Between August 11 and August 16, such candle patterns were seen which indicated a decline and after that a huge amount of decline was also seen.
From 28 July to 26 August, a decline can be seen, this is because the bears took over the command and started selling in large quantities.
On a final day i.e. 27th August Bulls were seen buying in bulk and that too with huge volumes.
Conclusion: wait for pullback and try to accumulate on dips for targets 4402 & 4471 with strict Stop-Loss of 4000.