My Bank of America (BAC) POSITION Chart:After slightly more than a month, the chart pattern has finally played out the move, and that is, to the downside. Remember, "PRICE will continue in the direction it is going, until it fails".
Thursday, May 22, 2008
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1 comment:
Nice identification!
From my day-trading experience the triangle is one of the least reliable patterns, and it usually goes back into the trend line it has broken. In a research I have compiled, even pullback entries which are considered stronger were not profitable at the Triangle.
What do you think?
Michael
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