EFE 0.00% 0.5¢ eastern resources limited

No because:*C&H are continuation patterns and are reliable when...

  1. 2,152 Posts.
    lightbulb Created with Sketch. 150
    No because:

    *C&H are continuation patterns and are reliable when they form in the direction as part of a strong trend. In this instance this wouldn't apply as you attempted to portray a bearish/inverted C&H in a long term uptrend.
    *Volume signatures are wrong. There should be significant volumes on each side of the cup accompanied by significant volumes at the centre to signify a climax.
    *The shape of pattern itself is sloppy as there is a significant part of trading outside the curve on the left.
    *The handle would be too long relative to the cup.
    Last edited by Jnnl: 16/11/22
 
watchlist Created with Sketch. Add EFE (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.