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The Price action so far of the Gartley in the Gold charts have been back and forth in the PRZ zone.(price reversal zone) it hasn't crossed over the .382% retrace from wave -ii- yet.
We may want to wait for the break of the trendline and set a close stop in case there is more downside to come ( which is in line with the HEW wave count). The current price action looks like a Flat so far to me.
Gartley's have the highest Fail rates of all the Harmonic Patterns. Being we are looking for an -iii-/-iv- wave, the Gartley could "Fill" and the Price action never go past the wave -ii- for confirmation of Bullish turn. There is a lot of upside here so waiting for the I-cloud confirmation to keep from being whip-sawed is a good Bet.
Thanks to Stockcharts.com for letting us repost our charts from our accounts.
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