Possible Gartley Pattern in ESEN
The Gartley pattern is made up of four price points, labeled X, A, B, and C. The pattern is considered to be valid if the following conditions are met:
XA is a retracement of 61.8% of the AB leg.
BC is a retracement of 38.2% of the XA leg.
CD is an extension of 161.8% of the XA leg.
The Gartley pattern is a relatively complex pattern, and it is considered to be a relatively reliable indicator of a potential reversal, but it is important to use it in conjunction with other technical indicators and confirmation signals.
XA is a retracement of 61.8% of the AB leg.
BC is a retracement of 38.2% of the XA leg.
CD is an extension of 161.8% of the XA leg.
The Gartley pattern is a relatively complex pattern, and it is considered to be a relatively reliable indicator of a potential reversal, but it is important to use it in conjunction with other technical indicators and confirmation signals.
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