Registered User
Joined: 2/19/2005
Posts: 38
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Looking for chart patterns, would one consider GTW breaking out of an ascending triangle as a reversal pattern on a daily chart between 7/107 and today?
Thats what I see here...
Regards,
Mark
Practicing, Learning.
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Registered User
Joined: 2/23/2006
Posts: 102
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I think your apparent typo has people stalled. If you mean is there a triangle from july (august lows)to december with recent break, I would say no. A triangle is not a pattern we look for at major turns (which is the primary action in this time scale), it is a continuation pattern we look for after moves and 'usually' within a tighter range and usually fewer bars. Not that this isn't interesting. A long drawn head and shoulders with a clear break above neck line at ~2.00. Look for re-test of that range as support now and load up with as much as you'd like to lose.
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