TMO - ThermoFisherScientific - Setting up a Gartley

TMO has confirmed a low for the A pivot of a potential Bearish Gartley with a bullish engulfing daily candle on Wednesday. Look for a small pullback for ideal entry long. Long target on this move would be a 382 to 50 retrace of the down move. Take profits in that area and then wait for the pullback for the C pivot build. Once the C pivot has been confirmed, a nice swing long will be in play for a 786 retrace. That said, consider taking profit at the 113 fib of the A-B measurement as there is often pullback from that 113 to the 100 or 886 before the next leg (essentially forming an ABCD up)