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Friday, February 12, 2010 8:52:24 AM
EU 4 Hour Bullish Gartley Forming
We're finally getting close to a bottom on EU after all this time. The new Gartley pattern is not yet complete but it's on the way.
Remember from the example I posted on GU, we have to wait until that circled fib level is 1.618 or greater before entering long.
On the daily EU chart, 1.34 is the 61.8% retrace level. Since the bottom of the current Gartley pattern is 1.3444 on the 4 hour, I have a long order waiting at 1.345.
We're finally getting close to a bottom on EU after all this time. The new Gartley pattern is not yet complete but it's on the way.
Remember from the example I posted on GU, we have to wait until that circled fib level is 1.618 or greater before entering long.
On the daily EU chart, 1.34 is the 61.8% retrace level. Since the bottom of the current Gartley pattern is 1.3444 on the 4 hour, I have a long order waiting at 1.345.
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