Latest News
July 24: The S&P500 and FOREX EUR/USD Update.
Latest YouTube video fast average crossings part2.
chart template updated
My book "Capturing Profit with Technical Analysis"
best offer!
(DUTCH) Nederlandstalige versie hier.
Over 300 items on sale,
and FREE Shipping in July!
WINNER "Favorite Article" in the Readers' Choice Award 2010. Thank You!
AXIOM business books awards, bronze medal for my book! Thank You!
Part 2 of "Smoothing The Bollinger %b Indicator" in the June issue of S&C.
Visit the TradersLibray blog.
Sylvain Vervoort
WINNER favorite article
Readers' Choice Award.
AXIOM Business Books Awards, bronze medal.
Replies to YouTube Questions
September 9, 2009. Price Trend Reversal Patterns
I have noticed a head and shoulders pattern formed within the last 2 weeks at the citybank shares check it out! :D Tell me if its valid plz.
REPLY:
This is the daily chart of CBTK up to September 9, 2009:
Special offer: "Capturing Profit with technical Analysis"
I do not see this as a head-and-shoulder. I would like to see a H&S at a bottom or top for a reversal. I would rather see the last bottom as a double bottom pattern that was confirmed when it broke the last brown downtrend line. That was also the right buying moment. There was good support from a previous resistance and from a small window in march. That would have allowed an acceptable initial stop setting. Now I would wait for the turning point with the idea that price should stay above the 50-day moving average (blue) and eventually even above the last window support. So with a closing price staying above $2.45 and price turning up I would buy. Do not forget to keep an initial stop and make sure you have a good risk-to-reward ratio. Also, never open a position based on just one technical indication!
Have a nice day.
Back to YouTube videos starting page
STOCATA Stocks Technical Analysis HOME