Replies to post #11450 on Futuris Company (FTRS)

[tradingyoda]

Thanks for the message k. I don't doubt your skills, however one can hope for news/momo to create a shift in previous patterns right? ;)

As for me, my position is such that I'll be holding for higher ground. Obviously I'd like to see that much sooner than later, but if its a long term hold then its long term.

No defiance or bashing or disrespect to you from this trader...just the reality of where I'm at.

Again, thanks and much appreciation for your insight from the charts...good, bad, or ugly.


MTFBWY

[k_trader]

After EOD today a Bearish Engulfing Candle pattern has formed. I would expect to see further pull back between .0010 and .0013 for tomorrow, possibly triple zeros by end of week as I mentioned in my posts last week.

Light at the end of the tunnel...

Important thing to note here, if we do see triple zeros and find support between 0.0007 and 0.0010 it would suggest a triple bottom play is forming. This would be the time to "load up" because the rebound could have huge potential.

The estimated failure rate for a triple bottom is a low 4% assuming that an investor waits for the upside breakout through the confirmation point. This pattern should give longs a light at the end of the tunnel, greener days should be coming soon. You have to weather the storms first.

More info
http://www.trending123.com/patterns/triple_bottom.html

Something to think about anyway, GLTA.