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
FFX Price at posting:
64.3¢ Sentiment: Hold Disclosure: Held