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Author Topic: Bullish Trend supported by fully developed Head & Shoulders bottom  (Read 2340 times)
S3052
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August 15, 2011, 09:40:54 PM
 #21

We shared buy signals i) above 10 $, ii)  above 20 $ in May/June, which were very helpful. The last buy scenario between 13-14 $ was not yielding bug progress, and was followed with a stop loss reco below 12.5-12.8$.
We then gave a buy zone between 5-5.8 $ and prices fell below 12.5-12.8 $ and hit 5.74$ at the low.

We gave sell signals at i) 31.6 $, ii) below 20$ and iii) the last one was below 12.5-12.8$. Those signals were quite useful.

 

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August 16, 2011, 12:14:18 AM
 #22

Bullish trend due to Head & Shoulders?  I've seen plenty of stocks plummet after that happens and never recover.  First spike is euphoria from the initial investors, second spike is suckers coming in to push up the market, third spike comes from wishful thinking that maybe the price will recover.... before it plummets and becomes a permanent penny stock.

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August 16, 2011, 12:17:34 AM
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Bullish trend due to Head & Shoulders?  I've seen plenty of stocks plummet after that happens and never recover.  First spike is euphoria from the initial investors, second spike is suckers coming in to push up the market, third spike comes from wishful thinking that maybe the price will recover.... before it plummets and becomes a permanent penny stock.

@Cluster2k
H&S or inverted H&S?  Big difference there.  I think you are confusing the two.
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August 16, 2011, 12:25:53 AM
 #24

Funny how ignorant people attacked the OP for this... Understanding head and shoulders patterns are a prerequisite to trading 101. Unfortunately, this particular bit of knowledge would have been better if it was stated before the pattern finished. Still a bullish trend though.


This is a good way to look at it. I have charted this H&S pattern last week in my bitcoin technical analysis report in the subscriber section, and then subsequently given a BUY rating at 8.4 $.

it's getting ridiculous if you're only going to talk here about what you have said previously in your subscriber section. spill some beans of upcoming predictions and then you can entice people to subscribe for more, otherwise your 'marketing' is going to work against you imo. 
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August 16, 2011, 02:01:29 AM
 #25

The original poster is correct, an inverted head-and-shoulders pattern gives a price target based on the largest peak distance to the 'neckline'. Which in this case looks loosely to be somewhere around the $15.00+ area.

Guess we'll see...

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