Harmonic Gartley Pattern setup today on MARA
The daily chart has formed a Gartley pattern as of today.
There are 5 indicators to use to get an overall view of what the chart is "saying.
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Volume: FIsher Transform Money Flow Index
Speed: Stochastic Momentum Index
Trend: DMI-+
Trend Strength: ADX
Volatility: Bolliger Band on Bollinger Band Width
Strength: Relative Price Strength
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The volume and speed indicators are oversold and ready to turn back up.
The volume has slowed down as price has gone down.
The daily candle range (volatility) has decreased.
The volatility indicator has already turned back up.
The trend indicator is "kissing"
The trend strength has been going down as price has been going down.
The current pattern that is occurring on the daily chart is the Gartley.
The projected target price of a Gartley is the 1.27 projection of leg XA.
Target price is 35.94
Potential Buy @ yesterdays Open + .23 = 18.88
Stop @ yesterdays Low - .23 = 16.95
Money Mangement: on a 10K account you would purchase 52 shares with a Risk/Reward ratio of 8.84
Cash amount $981
Target Sell= 1862
Profit = 883
There are 5 indicators to use to get an overall view of what the chart is "saying.
-------------------------------------------------------------------------------------------------
Volume: FIsher Transform Money Flow Index
Speed: Stochastic Momentum Index
Trend: DMI-+
Trend Strength: ADX
Volatility: Bolliger Band on Bollinger Band Width
Strength: Relative Price Strength
==================================
The volume and speed indicators are oversold and ready to turn back up.
The volume has slowed down as price has gone down.
The daily candle range (volatility) has decreased.
The volatility indicator has already turned back up.
The trend indicator is "kissing"
The trend strength has been going down as price has been going down.
The current pattern that is occurring on the daily chart is the Gartley.
The projected target price of a Gartley is the 1.27 projection of leg XA.
Target price is 35.94
Potential Buy @ yesterdays Open + .23 = 18.88
Stop @ yesterdays Low - .23 = 16.95
Money Mangement: on a 10K account you would purchase 52 shares with a Risk/Reward ratio of 8.84
Cash amount $981
Target Sell= 1862
Profit = 883
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