Replies to post #71267 on MATRIX Penny Stocks

[Capitalist]

I think you may have come to one of the same conclusions I did in playing triangles. Instead of the price just breaking the top line of the triangle, I wait for the stock to actually break the last price level that the top line TOUCHES. I agree that I would rather give up the extra couple of points in favor of more confirmation.

I also look at more distant peaks as possible resistance levels, as well as round numbers like 3.00 (chipped did a great post on different kinds of resistance a while ago, which helped me out a lot).

Unfortunately, with my current commission schedule, the resistance points are often too close to be profitable. I am in the process of moving some cash to Freetrade though, so this may help a lot.

Thanks for the discussion! It helps a lot.

Cap