I’m not sure there’s much in that Newton, the validity of that sort of pattern producing any meaningful indication is a pretty low % IMO.
But then you’re probably asking the wrong guy as I’m not a fan of any drawn in diagonal as I believe they carry less weight and get drawn in to suit bias’s.
I’ll only use a diagonal on an ascending triangle as I have had a fair bit of success with plus they can’t be distorted by bias’s.
I like fully understanding and trusting a proven set of indicators that I don’t have to mess with, let the price action produce the technicals not whims from us silly chartists.
Cheers.
NEU chart, page-1774
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Last
$20.55 |
Change
-0.130(0.63%) |
Mkt cap ! $2.626B | |||
| Open | High | Low | Value | Volume |
| $20.55 | $20.77 | $20.20 | $3.429M | 167.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2584 | $20.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.56 | 437 | 2 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| NEU (ASX) Chart |