I like looking for rounding bottoms and a flag on the breakout for the reversal of downward trend. Or more accurately put, a breakout which is a very short period of consolidation relative to the length of the rounding bottom, with the breakout point defined as a heavy spike down on the downtrend coming into the rounding bottom. Then a V shaped reversal, and then final capitulation resulting in a push lower than the downward spike and a long time to round out. Then the breakout flag happens either above or below the resistance line that forms at the point of the down spike. Example below. AAR is one of these I’m trading at the moment.
- Forums
- ASX - Short Term Trading
- Short Term Trading Week Starting: 14 Oct
Short Term Trading Week Starting: 14 Oct, page-96
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online