So M...My question of yesterday still stands. I clearly see a
rising wedge on the daily from late Nov. with 5
touches...Stockcharts school is clear:
Regardless of the type (reversal or continuation), rising
wedges are bearish. ...However, I have flipped
around looking at sites and can see there are examples of breakouts
from rising wedges...Plus BIOS is coming off a long downtrend. Ha
ha...but other examples show MORE downtrend after the wedge.....So
is that what the hope is here? Breakout but stop at rising trend
line area in case it classically "wedges out" on us???
I respect your calls greatly, so more just asking to try and
learn patterns. Ta much...M
I'm looking for a breakout of the 7.3/7.60 range into the 8/8.50
area ... it's got good 13/34ema support, and the 60mins is in a
nice pennant formation ... good enough for me.
BIOS
Posted by mla127 on 8th of Jan 2014 at 10:17 am
Trade idea from the newsletter mid December
BIOS question again.
Posted by zimikebpt on 8th of Jan 2014 at 11:33 am
So M...My question of yesterday still stands. I clearly see a rising wedge on the daily from late Nov. with 5 touches...Stockcharts school is clear: Regardless of the type (reversal or continuation), rising wedges are bearish. ...However, I have flipped around looking at sites and can see there are examples of breakouts from rising wedges...Plus BIOS is coming off a long downtrend. Ha ha...but other examples show MORE downtrend after the wedge.....So is that what the hope is here? Breakout but stop at rising trend line area in case it classically "wedges out" on us???
I respect your calls greatly, so more just asking to try and learn patterns. Ta much...M
I'm looking for a breakout
Posted by mla127 on 8th of Jan 2014 at 11:47 am
I'm looking for a breakout of the 7.3/7.60 range into the 8/8.50 area ... it's got good 13/34ema support, and the 60mins is in a nice pennant formation ... good enough for me.
Thanks - I see that!
Posted by zimikebpt on 8th of Jan 2014 at 12:02 pm
Yep...I see what you mean. Thanks!!!