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Post by jacksrbtr on Mar 25, 2015 15:12:18 GMT -5
I know I'm grasping at straws but this thing is killing me: INVESTOPEDIA EXPLAINS 'Wedge' Once the price breaks out of the wedge, it is expected to return to the major trend. Technical analysts see a 'breakout' of this wedge pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the lower line). A wedge shape pointing upwards (rising wedge) is used in analyzing an upward price trend within an overall downward price trend. A level wedge is considered a period of consolidation, which will not reverse the current major trend. Finally a wedge pointing downwards (falling wedge) is used to analyze a downward price trend within an overall upward price movement.
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Post by jacksrbtr on Mar 25, 2015 15:27:19 GMT -5
Wait a minute I think I like the Symmetrical triangle explanation better: "Symmetrical triangle The symmetrical triangle is mainly considered to be a continuation pattern that signals a period of consolidation in a trend followed by a resumption of the prior trend. It is formed by the convergence of a descending resistance line and an ascending support line. The two trendlines in the formation of this triangle should have a similar slope converging at a point known as the apex. The price of the security will bounce between these trendlines, towards the apex, and typically breakout in the direction of the prior trend.
If preceded by a downward trend, the focus should be on a break below the ascending support line. If preceded by an upward trend, look for a break above the descending resistance line. However, this pattern doesn't always lead to a continuation of the previous trend. A break in the opposite direction of the prior trend should signal the formation of a new trend."
C'mon baby!!! BREAK THAT FLIPPIN TREND!!!
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Post by novie08 on Mar 25, 2015 20:40:58 GMT -5
It looks like the 20 could cross the 50 going up too...but don't tell the banksters, they'll destroy it for sure.
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Post by clinton on Mar 25, 2015 21:46:52 GMT -5
should test the 200ma soon Jack \ "feels" more like an iH&S to me
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