LCL 0.00% 0.9¢ lcl resources limited

Purely as constructive to help, what you've drawn there is...

  1. 6,406 Posts.
    lightbulb Created with Sketch. 1618
    Purely as constructive to help, what you've drawn there is literally nothing. That would be a descending triangle you've drawn which it's not connected to anything as you're bottom line doesn't connect to any trend line of the candles, but cuts through. I can see where you're trying to connect which is at 15.5 and that's a support level, but not a formation pattern.

    What has been forming in my view is a Pennant Flag.

    Trend lines need to link to either ends of candle tails or most of the time the top of the candle and bottom of the candle.

    Reason being, is tails can a lot of times just be "noise" and it's the full body of the candles that matter most, that's a simplified thumb of rule without going into more detailed of individual candle pattern types. Tails usually indicate a rejection of the price high or low, longer the tail the more confidence in the rejection.

    I've posted a Daily and Hourly, showing the trend lines connecting to the key marker points. Every pattern has specific criteria that needs to be met and sometimes people see patterns where there are none or where they want to see something or it looks similar to something they've seen posted or read about.

    Hopefully helps in anyway, just my thoughts is all.

    https://hotcopper.com.au/data/attachments/2501/2501450-eec9e65bdb0d92a8ef9499f56f8890e7.jpg
    https://hotcopper.com.au/data/attachments/2501/2501453-aee9ad20438bc9587708d1c0e12c347f.jpg

 
watchlist Created with Sketch. Add LCL (ASX) to my watchlist
(20min delay)
Last
0.9¢
Change
0.000(0.00%)
Mkt cap ! $8.684M
Open High Low Value Volume
0.9¢ 0.9¢ 0.9¢ $8.158K 906.4K

Buyers (Bids)

No. Vol. Price($)
2 1075879 0.9¢
 

Sellers (Offers)

Price($) Vol. No.
1.0¢ 2970499 9
View Market Depth
Last trade - 15.46pm 25/06/2024 (20 minute delay) ?
LCL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.