Tuesday, November 30, 2010 12:08:33 AM
UWRL breakout prediction
Technical analysis says that the ideal time for a chart to break out of a triangle formation is 2/3-3/4 of the way through the formation. I broke the chart down into 2 descending triangles, with bases of .0004 and .0006 (.0004 or .0006 could be the base of the triangle, just depends on how YOU see it), and divided them into 3rds and 4ths. Ideally, we see a breakout before January 24th.
However, news could break this out at any time, as we are currently in the .0006 ideal breakout range.
Technical analysis says that the ideal time for a chart to break out of a triangle formation is 2/3-3/4 of the way through the formation. I broke the chart down into 2 descending triangles, with bases of .0004 and .0006 (.0004 or .0006 could be the base of the triangle, just depends on how YOU see it), and divided them into 3rds and 4ths. Ideally, we see a breakout before January 24th.
However, news could break this out at any time, as we are currently in the .0006 ideal breakout range.
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