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Chapter 6. The Gartley Pattern > Standard and Poor’s 500 June 2003 Mini-Contrac...

Standard and Poor’s 500 June 2003 Mini-Contract (ES_M9): 5-Minute

The ES formed a distinct Bullish Gartley on this 5-minute chart. This was a nice structure with an ideal alignment of harmonic numbers that defined a distinct intra-day PRZ in the 920 area. (see Figure 6.4).

image

Figure 6.4.

The overlapping of the AB=CD and the 0.786 retracement defined the critical area within the PRZ, as the ES reversed sharply after testing this area. It is important to emphasize the convergence of these two numbers in the Gartley PRZ. Although I prefer to wait for the entire range of harmonic numbers to be tested in most patterns, the Gartley frequently reverses after testing the AB=CD completion point and the 0.786 retracement. Not to mention, the convergence of these numbers at the 920 level clearly defined critical intra-day harmonic support.


  

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