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Chapter 4. Harmonic Patterns Relative to... > Chicago Mercantile Exchange (CME): D...

Chicago Mercantile Exchange (CME): Daily Bullish Gartley in a Bullish Trend Channel

The enlarged chart in Figure 4.14 of the Bullish Gartley within the uptrend channel clearly shows a distinct harmonic pattern, despite the fact that the stock rallied as much as it did prior to this setup completing.

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Figure 4.14.

The example of CME clearly presents the concept of looking toward harmonic pattern completions as continuation signals within established trends. In this case, the Bullish Gartley was distinct and completed at the lower end of the support channel. The price action reversed sharply after testing all the numbers in the PRZ. When patterns like these develop within the context of an established bullish trend, these setups frequently are technically significant signals with respect to the overall direction of the stock.


  

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