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3,150.0 s&p/asx small ordinaries

The Brains Trust - 2021, page-861

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daveironore

3,751 Posts.

419

18/04/21

17:24

Post #: 52548262
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Originally posted by YLJ: ↑

Nice charts. Thank you
RIO was a truly well-defined pattern with a perfectly horizontal boundary line on a Candlestick Chart & close to perfect
on a close-based Line Chart, save for one touch. (I got the breakout on that one, but was stopped out after protecting
some profits when it faltered around 2008 high).
JHB is IMHO not as well defined, and more of a Broadening Formation or channel (below), neither being
as reliable as an H&S Continuation above, though still technically valid patterns.

I personally find that checking both types of charts is most beneficial for finding the cleanest pattern
with the most well-defined breakout levels, and over time that has saved me from countless false moves.
Horizontal boundaries (when they are truly clean) generally provide the best results and are easiest to
manage. I like my stops as tight as possible so perhaps more important for me than for others...
All the best

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Channel plus inverse head and shoulders. Leveraged to commodity prices as a drilling/ mining services company.

XSO Value at posting: 3,331.6
6 Upvote

0 Great analysis

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