XSO 0.72% 3,136.7 s&p/asx small ordinaries

The Brains Trust - 2024, page-1227

  1. 4,378 Posts.
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    One glance at your chart PB; ...... 3 parallel lines triggered my old Andrews Pitch fork days straight away.
    And quite an impressive VALID L - H - L fork indeed. Green fork shown below on an IG weekly chart. Some fork theory;

    1, Nice test of med and support tynes ("proving validity" of fork)

    2. Up through median tyne and a double back test.

    3. Theory is "if it doesn't go through the tyne it increases likelihood of going UP to the next tyne. Interestingly (& bullishly) that could coincide with the blue HnS projection I shown.

    All in all just a lovely little chart


    https://hotcopper.com.au/data/attachments/6202/6202893-2312ba9dd62ac027aa3118812560edb2.jpg

 
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