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MWIP Daily Chart - Channel is starting to

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wolverine02 Member Profile wolverine02 Member Level 
Saturday, September 22, 2012 3:26:40 PM
Re: None Post # of 22948 
MWIP Daily Chart - Channel is starting to form an Ascending Triangle...This happening after a Sideways Break of the Overall Downtrend on the Daily....This is a Reversal Signal as shown in the Link below the Charts...

I put two Charts together to show the developing pattern...First has the Log Scale off to show the full view...Lower Chart has Log Scale on to show a close up of the Ascending Triaglne Pattern...






Ascending Triangle

An ascending triangle is formed by equal highs and higher lows. It is a bullish signal, whether encountered in an up- or down-trend. It is most often observed as a continuation pattern in an up-trend but is a strong reversal signal when witnessed in a down-trend.

http://www.incrediblecharts.com/technical/triangles_and_wedges.php


Link for "The >>>> Next_Charm$" Board below

http://investorshub.advfn.com/boards/board.aspx?board_id=20056
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