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Strategies & Market Trends : Harmonic Trading with The Phoenix -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (441)	4/1/2003 8:49:04 PM
From: the-phoenix	Respond to of 941

Here is the afternoon Butterfly short: share.esignal.com The completion of this pattern at 860.5 coincided with an equal move of the rally off yesterday's closing low to the rally off Monday's low to high: Monday: 840 - 857.25 = 17.25 points Today: 843.5 - 860.5 = 17 points. Again, the profit target at the .618 retrace of the CD leg was essentially reached at 852.5 (two ticks above the precise number). For reference, I have shown the morning Bearish Gartley trade within this larger Butterfly pattern. One of the most fascinating aspects of this method is these "nested" patterns, which occur quite frequently. When you spot one in one timeframe, keep an eye out for one in a larger timeframe that incorporates the smaller pattern.