FFX 0.00% 20.0¢ firefinch limited

FFX has continued to form and respect Classical Charting...

  1. YLJ
    819 Posts.
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    FFX has continued to form and respect Classical Charting patterns.
    The current consolidation has held above a large weekly (upper green) "zone" and
    seems to be forming another continuation pattern - an Ascending Triangle with a
    measured target of 0.835 for a test of the all-time high.
    Until the last few days of price action, the pattern was more of a Symmetrical Triangle.
    It is a dubious pattern in that it tends to morph into something else quite often before
    fulfilling its objective, and it's not confirmed until the mid-point of the pattern is decisively
    cleared. That is why I always prefer a horizontal boundary for pattern construction and
    defining a breakout level. If 0.695 is broken on volume I will add again to my position here
    one last time. There is an argument for waiting for a closing price, owing to those wicks that
    I have ignored in drawing the pattern, but if the volume is good enough I will give it a go.
    GLTA
 
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Currently unlisted public company.

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