Let me tell you a small secret about history…it sometimes repeats itself and sometimes does not 🙂
Have a profitable day!
Do you believe in the statement “History repeats itself”? You probably do if you trade through technical analysis so lets look back at history.
As shown in the chart below, between Feb and May 2012 A Head & Shoulders Top formed broke down and a 8% drop followed.
Going forward a very similar H&S Top formed between Aug and Oct 2012 which broke and a 12% drop followed
Fast forward June 14th, 2013 guess what pattern formed this time? Yes!! its the Head & Shoulder Top that did not break……yet
Right now you are definitely wondering what is the mystery chart?
JOIN Me here again tomorrow Monday one hour before the market opens and I will tell you for FREE
I ask you to please share this post, like it, tweet it or comment because I want the maximum number of people to know
Below is the daily chart of Oil traded with USO. Shows (1) 4months H&S bottom inside (2) a triangle.
(3) this triangle is inside another larger one as shown on the weekly chart below. The upcoming trend up or down i really dont care will have a lot of momentum
TKR is mashed against multi year resistance. This is an optimum level for a short with a high reward to risk ratio.
This trend line is becoming very important 5 touches! A break below 1598 will be significo
Hello & Welcome to my new blog
Simply put I will share trade setups and trading strategies through this blog. Mostly pure basic classical charting
Sometimes I may post stocks/ETF on my watch list
I abide by the following 1 simple rule:
-No pattern, No trade
I told you its simple !
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