AI
Thursday, January 04, 2018 1:23:38 AM
GNMX this stock I got from the same guy (Klinsman) that I spotted OHRP on. I just missed the bounce, but might try to catch a pullback. Any how, I wanted to share the chart since I think it fits the W pattern at the bottom of a trend line break pattern very nice.
I especially like the formation of the W, to me it is a text book example of the pattern. Notice that this would have only been a .04 risk per share had I seen it a few days ago.
I did chart this one on the 30 minute chart rather than the 60 minute chart. I am gonna use this time frame more often, as I think it does a better job at spotting the W pattern.
Looking at the 60 minute chart it looks like we might get another chance if we see a pullback. Just keep in mind that this is not a real high volume stock.
The holy grail of charts on the 30 minute time frame
1. A "W" pattern forming on a trend line break
2 W pattern also breaks the 200 MA (purple)
3 Price comes back down to center of W pattern for a buy trigger
4 Golden cross 50 MA crosses the 200 MA
5 Ichimoku cloud break.
60 minute chart
Daily chart shows cloud resistance, if it does make it up into it 1.45 looks like a target.
I especially like the formation of the W, to me it is a text book example of the pattern. Notice that this would have only been a .04 risk per share had I seen it a few days ago.
I did chart this one on the 30 minute chart rather than the 60 minute chart. I am gonna use this time frame more often, as I think it does a better job at spotting the W pattern.
Looking at the 60 minute chart it looks like we might get another chance if we see a pullback. Just keep in mind that this is not a real high volume stock.
The holy grail of charts on the 30 minute time frame
1. A "W" pattern forming on a trend line break
2 W pattern also breaks the 200 MA (purple)
3 Price comes back down to center of W pattern for a buy trigger
4 Golden cross 50 MA crosses the 200 MA
5 Ichimoku cloud break.
60 minute chart
Daily chart shows cloud resistance, if it does make it up into it 1.45 looks like a target.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
