This is an update to the comments I posted on this article
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Or to go straight to the comment here
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Here’s a great a great stocko article on overtrading and impatience when investing, and its one of the rules I have followed in my process. It refers to action bias
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However this doesn’t mean that we should just invest, forget and bury our heads in the sand. It’s been 3 months since I commented on Inmarsat (LON:ISAT). This 3 month is my invest and be patience time frame with the discretionary exception of profit warnings, unexpected negative news announcements or red flag occurrence. I’ve chosen 3 months as it represents a quarter. It’s now time to analyse evaluate and reconsider the Gartey pattern which formed on Inmarsat (LON:ISAT) charts and the price action in the potential reversal zone (PRZ). So let’s have a look at £ISAT’s chart

5a83efa0d9bd9ISAT.JPG

The gartley formed 1st downward blue arrow on left. From there we had what appeared to be a symmetrical bottoming pattern forming A-G (Note reversals often follow 7 wave sequences A-G) followed by G-A.  So the bears tried to force prices lower on 7 occasions and the bulls responded. From point G the bulls had the upper hand taking prices above the first harmi candlestick pattern (dark blue arrow) and back inside the gartley formation. From this point if price fails to continue rising look for the next development, looking at the chart we are able to identify a 1:1.272 AB=CD. At this time one is unsure whether the pattern has been completed or whether it is only the AB wave of a larger AB=CD. It would appear that only the AB wave of a larger AB=CD has completed as the CD leg dominates both in price and time (price is accelerating higher in CD leg) hinting at higher prices. 
From here I’m looking for a retracement in the form of another AB=CD and have annotated one on the charts this terminates at the 2nd highlighted red arrow and a doji is visible. (This is also a 1:1.272, bear in mind this was annotated on the charts when it happened).  Once this doji fails the only other positive outcome I could…

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