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Wednesday, September 21, 2011

STI 21/09/2011

STI broke out of the symmetrical triangle and stayed above so far.It might attempt to fill the gap next.

Posted by bullseye at 5:44 PM
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6 comments:

  1. AnonymousSeptember 22, 2011 at 10:30 AM

    Snp giving us headache ytd drop in the last hr.......terok

    ...

    ReplyDelete
  2. bullseyeSeptember 22, 2011 at 10:32 AM

    STI is a fake breakout.. see latest reading..

    ReplyDelete
  3. AnonymousSeptember 22, 2011 at 6:00 PM

    A valid symmetrical triangle breakout should occur between 1/2 to 3/4 from the Apex. The triangle breakout you show is too near to the Apex and thus it is not a valid triangle

    ReplyDelete
  4. bullseyeSeptember 22, 2011 at 11:43 PM

    Now that it has been broken down, it obviously has been invalidated. I am not a hind sight trader and I post as patterns look visible to me. There are always chances of fake breakouts.

    ReplyDelete
  5. AnonymousSeptember 24, 2011 at 12:45 PM

    bulleye, you are missing the point. It wasn't a matter of "fake breakout" but the so called "triangle" you have identified is not a valid chart pattern to begin with. A valid triangle chart pattern should NOT have prices traded so close to the apex and still being considered as a triangle.

    ReplyDelete
  6. bullseyeSeptember 24, 2011 at 1:28 PM

    Your point is noted. But I believe patterns are rarely perfect. Either they work or they dont. Just my view. Not everyone will agree.

    ReplyDelete

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