Saturday, January 24, 2015

BULLISH GARTLEY IS SEEN ON WEEKLY CHART OF IDEA CELLULAR LTD



I  have spotted the Bullish  Gartley pattern ( marked by points) on the weekly chart of  Idea Cellular Ltd . 

X is at 130.
A is at 178.1.
B is at 145.25.
C is at 173 and D is at 138.10.

The AB  move retraced  in between 61.8% to 78.6% of XA move.
The BC  move retraced  in between  78.6% to 88.6% of AB move.
The CD  move Extended in 127% of AB move.

We could see that the stock has been moving up from the Point D.( must see failed bearish engulfing pattern)
This Pattern would be negated , in case prices moves back and went under Point X.

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