ffm chart, page-24

Hi student,That is a good nick. Hope you will lean in investing and able to retire young which anybody can do if they really want it enough.First there are many different technical chartist. There are pattern chartist which I am one, cycle chartist' elliot wave chartist' point and figure chartist etc. You need to have a look at them and see which one suits you best.Chart trading is not a science so you will get a lot of disapproval from others who thinks it is voodoo. But if your primary purpose in investing is pure making money then you don't need to worry about what others think but rather what works for you. Others can laugh at you but you are the one laughing to the bank.Now I need to tell you I am not the best chartist by any measured but even with a limited knowledge in charting and a commitment to act based on the charts my performance is way better than any super fund manager.Now to answer your question; head and shoulders are reversal patterns. And I have look at charts long enough to pay special attention to this pattern no matter how big or small it is By reversal pattern I mean a pattern which reverses the trend it was in before the pattern is confirmed. We can clearly see that ffm is in a downtrend in the daily chart ( in fact the downtrend is a very long term downtrend which makes this reversal even more exciting). We have just confirmed a head and shoulders pattern hence we are at the first step of reversing this long term downtrend. This reversal have an initial target of 63 cents and I expect it to overshoot this target price.in this weekly cycle.Hope this helps