Valgata..that answer would depend upon the time frame you trade
and other factors. But simply put one could hope for a slight
pullback followed by a trigger on an intraday chart or some
continuation (above Friday's highs) and put stop around 50% of
Friday's range.
Often times falling wedges will morph into inverse head and
shoulder (or cup and handle patterns) once a neckline is
established. From a proper wedge (and HHC was certainly a
good example on the 60 minute chart), we expect a solid thrust to
occur and that's what transpired on Friday.
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HHC Views
Posted by steve on 16th of Jan 2015 at 04:54 pm
HHC - Chart Link
HHC - Chart Link
Nice spotting Jon...here are a few views. I really like that 60 wedge and kudos for finding.
Hello, I am just wondering
Posted by valgata on 16th of Jan 2015 at 07:31 pm
Hello, I am just wondering after this break out how one would play it if you missed the break out pattern?
Thanks
Valgata..that answer would depend upon
Posted by steve on 17th of Jan 2015 at 06:08 pm
Valgata..that answer would depend upon the time frame you trade and other factors. But simply put one could hope for a slight pullback followed by a trigger on an intraday chart or some continuation (above Friday's highs) and put stop around 50% of Friday's range.
Often times falling wedges will morph into inverse head and shoulder (or cup and handle patterns) once a neckline is established. From a proper wedge (and HHC was certainly a good example on the 60 minute chart), we expect a solid thrust to occur and that's what transpired on Friday.