May 28, 2010

S & P 500 TRIANGLE IN THE HOURLY CHART

TRIANGLE 
  • THE BREAK OUT ABOVE 1100 CAN BRING ANOTHER 40 POINTS. SO TARGET FOR BREAK OUT WILL BE 1140 WITH A STOP LOSS OF 1095.
  • THE BREAK DOWN BELOW 1090 MEANS WE WILL GO TO 1050 AGAIN. PLAY THIS SCENARIO WITH A STOP LOSS OF 1095.
CAUTION: TRIANGLES GIVE FALSE DIRECTION SOMETIMES. BUT THIS TIME WE HAVE AN INVERTED HEAD AND SHOULDERS TO ASSIST US.
THANK YOU

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2 comments:

  1. Red Dragon LeoMay 28, 2010 at 2:01 AM

    Nice chart. I noticed it was in a wedge today too. Not sure what tomorrow will bring? Hard to say right now?

    ReplyDelete
  2. SanMay 28, 2010 at 5:48 AM

    Hai Red Dragon Leo

    Since this one is an inverted head and shoulders break out. Chances are this one should go up.

    ReplyDelete

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