Forming a potential inverted head and shoulders pattern!
Its also an inverted three Buddhas forming! even though i don't follow the mother stock much, the warrants are even more bullish! The warrant shows double bottom, as prices refuse to go any lower. When time for it to turn it will why should we cap a pattern to it when it is not , without the pattern it will turn north too it time for it to turn .
To put a pattern to a chart when it is not was just like fool our self, by telling people that I still not sure about it. Wrongly use a symptom or pattern or a tool like GANN cycle , Fib Arc ,Fib Fan will only make us forecast wrongly 2cents view to all the readers here. I used to burn myself speculating gold using cup & handle pattern which was later became a broken cup. Force to form a pattern is the biggest mistake one can make.
Use price movement to forecast should be enough, as for pattern have to depend on what type of pattern , some pattern shown just for the beauty of price movement of chart not really for the forecast of price movement .
Thursday, July 11, 2013
