:smart:
Head and Shoulders in the S&P
- Thread starter pennycapitalist
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:smart:
like this?
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Atilla
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Yes like that but the neck line has not been breached.
Need it breached coupled with another bounce towards it which fails and drops.
Dick Lexic
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Atilla
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So how's this then?
Yep that's looking like like text book style to me.
I'm no TA expert guys and increasingly moving away from it. I'd give it 1/3 weighting alongside FA and news release.
If you look at all those squiggles I can see few other necklines too. It's a lot of hocus pocus stuff.
One should keep a diary and ask / look to see what happened on those big turn days.
If you are interested 'the' book to read imo is John Murphy's Technical Analysis of the Financial Markets.
Dick Lexic
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Got the book, but to be honest I haven't looked at it for years.
The H&S target is still to hit.
The H&S target is still to hit.
Atilla
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Dick Lexic
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pennycapitalist
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As a canslim trader with little skill in the negative side of the market, the head on my shoulders told me several weeks ago to cash in and learn how to trade an indecisive market. The record days had me second guessing myself...but plenty of down days to confirm my plan is working just fine. It is just too choppy a market for canslim growth stocks. They go down too fast when someone says, "Boo!" like maybe Greece, or the Fed, of Isis. I'll soon have new methods to take some of the change folks drop when the market twists and turns like it's doing today. I'll take what the market gives me and be thankful.
Dick Lexic
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All things come to those who wait, target hit today
