Microsoft approaching potential Gartley cluster zone

Hi all,

one of the setups that my colleague Ric Spooner specialises in is the Gartley cluster. Unusually today it was me who actually spotted this setup so am writing it up. I won’t go into huge detail about how this setup works because there are loads of them previously done within the blog for you to take a look at. One point that I must make though is that these clusters are not resistance levels meaning that the standard approach is to wait for price to respect the level (i.e. form a peak) and then take the trade.

If you take a short trade after the peak has been formed then your stop would typically be placed above the peak/above the cluster level. The initial price target would be set at around $25.

Keep in mind that you can subscribe to the blog by putting your email address in the top right hand corner subscription area. You will then receive all posts as soon as they are entered.

All the best,

Dave.

This entry was posted in Market, Shares, Stocks, Trading and tagged , , , , , . Bookmark the permalink.

One Response to Microsoft approaching potential Gartley cluster zone

  1. daveold says:

    Looks like a wave 4 forming so once finished can project several potential levels for wave 5 down. These gartley patterns (I call them ABC’s) are by far my favourite trading patterns across all instruments.

    You guys do a fantastic job on the education front and sorry I don’t make more frequent comments, time always a premium. Keep up the good work, I am sure many appreciate what you are providing or if they don’t they know not what they are missing.

    DaveO

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