200+ pip run. At your discretion to take profit.
March 31, 2009 at 8:26 pm
Daily chart: Pattern present is wedge. applying wedget theory, time element for wedge target is witin 2 weeks.
Monthly chart: Pattern within a pattern analysis. Rounding cup/rounding bottom within a rising channel/flag. Basing on the monthly rsi of the stock which is still positive, the rising flag eventhough a bigger pattern compared to the rounding bottom, is not the dominant pattern. it could have been if the rsi was from way down going up to 50. noted then that the dominant pattern is the rounding cup.
March 31, 2009 at 5:36 am