This is for ticker symbol RNO. I'm trying to learn technical analysis and this graph has got me pretty darn confused. To me, it looks like a Falling Triangle pattern, but the stock clearly has gone up a lot from the point it should have gone down. Can anybody shed some light on this for me? Am I wrong to assume it is a falling triangle and is instead a symmetrical triangle, which should have gone up?
Coincidentally, if you go to the thread called "DBPhoenix Book" and download his book excerpt and look at page 10 you'll see something quite similar.
I'm not sure whether this will amount to '(1) Take Granny, (2) Demonstrate how to suck egg' so apologies if you knew this, but every pattern only works some of the time anyway - just because a pattern is noted as being a short or long signal doesn't mean it won't go the other way.
I'm not sure whether this will amount to '(1) Take Granny, (2) Demonstrate how to suck egg' so apologies if you knew this, but every pattern only works some of the time anyway - just because a pattern is noted as being a short or long signal doesn't mean it won't go the other way.
