Great chart pair Mia! By coincidence, I'm looking at this
too.
The wedge projects up +$9 to perhaps the low-$60s, while the
large head-n-shoulders projects -$12 to the low-$40s.
This reminds me of rock, paper,
scissors!
I think (maybe Steve knows better than me?) the larger
time-frame chart pattern is considered the dominant one, whenever
two opposing patterns exist.
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Bullish wedge versus bearish H & S top.
UGA
Posted by cubby on 7th of Nov 2013 at 11:04 am
Great chart pair Mia! By coincidence, I'm looking at this too.
The wedge projects up +$9 to perhaps the low-$60s, while the large head-n-shoulders projects -$12 to the low-$40s. This reminds me of rock, paper, scissors!
I think (maybe Steve knows better than me?) the larger time-frame chart pattern is considered the dominant one, whenever two opposing patterns exist.