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What would you do with this pattern and opportunity? The quiz is about pattern awareness, not what the product is. So with this in mind, what would you do at (1).
I will share the answer to this quiz on Tuesday. If you have thoughts on what action you would take or would like to know what this asset is, send me an email at email@example.com and I will send you the answer and soon as I can.
Ced, I will post the answer today, sorry I am a day late on the posting. Chris
I am interesting to know what is this stock ? Thank you 😉
I give up what is it?
I am not a specialist of tech ananlysis but I would be tempted to sell (double top and come back to the upper band of the rising trend)
I’ve made very good money on the quiz’s (30% twice), the FCX quiz has been spot on twice.
this looks like a very intereting pattern to harvest into, if you didn’t turn it upside down, which you’ve been known to do on us before!
Thanks for these, they are so fun, eduational and financially rewarding!
Bull Flag Pattern. If already long consider taking partial or all profits, depending on time frame your trading. Would not consider shorting this time at all.
Hi, I am a subscriber of Chris newsletter; I see a top coming with a shorting oppty but, like Viren and Bob J above, would say need to be cautious, perhaps wait for a retest and anyway seems to give plenty of time to initiate a position once the top is confirmed. This said I am really curious about what symbol that is.
It looks like a great chance to sell, but as with all things markets, who knows? If it breaks the old high and settles above, I would not think it unreasonable that it could double the advance from the intermediate low to the old high. Watch & wait…
Hello Chris, Thanks again for pushing limits ! I’m looking on the strong bull flag on the top of the chart ! It’s looks like 3-5% off from 52 weeks high !? I’m waiting breaks for new highs and get in wiht small position ! And accumulate 2 times with new highs ! My stop gonna be 9% or 1$ depends on price rage ! My best !
With three resistance lines converging, that includes a double top and wedge, I think it presents a great shorting opportunity.
This such a long term pattern that you don’t have to be in a hurry. If the support line is broken there should be plenty of time to react.
I’d find some way to short it but I’d be very careful. Look at the previous double top. Wait for a break of the support, and wait for a test of the resistance (which was a support).
This is an ascending flag pattern. If the next move does not take out the overhead resistance at 1, it would be a sign that the security is likely to fall in value. 2 out of 3 times this pattern is seen the security usually will fall in value if it does not pierce resistance at 1.
Sell Sell Sell!!!
This looks like a product offering a pullback or current opportunity to take profits. If it were the inverse of something, it would be a great spot to take an initial position.
Please send your answers and thoughts to me via email at Kimblechartingsolutions@gmail.com
I will send you the answer back. Small hint, this is a very long-term chart!
Have a great weekend,
Your blog is excellent.
I think your chart looks like a topping pattern, I would wait for a drop and then a retest of the high then open a short position on failure to maker a new high.
This form of rising wedge looks to me like a low risk shorting opportunity.
I would be very thankful to know what product is having this chart right now.
A double top, comming from below a long term line.
In this case a resistance line. I would watch for a position
to short the item.