well the first target would be 19, and the of course the
previous high in May around 19.5. On a pullback you want to
see the broken trendline hold as support and hopefully the gap as
well.
now via triangle measurement you can measure the triangle in a
couple ways, from the middle from 17 to 19, about $2, add that to
the breakpoint trendline and you get about 20. If you measure
to the highs you get around 20.5 - 21. Again I am doing it
very roughly, instead of measuring exact numbers, I just eye ball
it and then round the numbers down generally.
slv target?
Posted by frtaylor on 26th of Aug 2010 at 10:40 am
How do I measure a target price for SLV out of the triangle?
well the first target would
Posted by matt on 26th of Aug 2010 at 10:48 am
well the first target would be 19, and the of course the previous high in May around 19.5. On a pullback you want to see the broken trendline hold as support and hopefully the gap as well.
now via triangle measurement you can measure the triangle in a couple ways, from the middle from 17 to 19, about $2, add that to the breakpoint trendline and you get about 20. If you measure to the highs you get around 20.5 - 21. Again I am doing it very roughly, instead of measuring exact numbers, I just eye ball it and then round the numbers down generally.
thanks!
Posted by frtaylor on 26th of Aug 2010 at 10:51 am