Puppet Master LOL how very educational .
@Dragonfly70
https://forextraininggroup.com/trading-the-gartley-pattern-ratios-rules-and-best-practices/
Have a look at this link you will see we currently have the same structure on the DEV daily chart.
Your article may be referring to and including that in their thoughts but not mentioning it ,a Hammer candle traditionally suggests the bulls bought price back to the open and over came the exhausted bear and the next day has a higher probability of a new daily high which would then an isolation low pivot and turn ,however its not something to be used on its own.
No body knows whats going to happen next all we(some of us) can do is study the flow of price.
Here you can spot the the 3 wave Gartely structure in blue with yesterdays hammer candle suggesting the bears maybe coming exhausted.We or i can then see that price is in the area of the Fib 61.8% return increasing the probability of a bounce in price to accompany the hammer candle.We can or i see an oscillator is currently oversold once again increasing the probability of a price turn.
As nobody knows what price will do next all we can do is attempt to increase the probability of a move with as least indicators as possible and preferably different indicators to add some strength to the observation.
It would be nice for an inside day today if price doesnt rally this afternoon as it did yesterday no doubt the bull had no reason to run at it early in the day, it would also be nice for the Gartley structure to complete as it would pull price out of the Puppet Masters pennant flag and i'd love to see that
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