LIB: Breakout from Flag!
LIB has been encountering resistance @ 4.00 for the past few trades. Today, LIB breaks the 4.00 and 4.15 (previous high)...
My chart shows a breakout from a flag formation... computing for the target price...
1. getting the height of the flag (4.15 - 2.95 -> 1.20)
2. then add the height to the resistance.... 4.00 + 1.20 -> 5.20
3 comments:
nice abby. good job. very clear and easy to understand. finally i understand what flag is. normally, COL defines the symmetrical cone pointing to the right as a reversal indicator.
i just ignored the pole which is the straight white candle.
thanks for the explanation. by the way, I'm chu26981 in TP.
are you coming to Ollie/La-cost birthday celebration?
by the way, i don't have twitter so I'm posting another one here. just a question, where do you ACR headed? angping has been continously buying within the range of .96 to 1.02 forever!!! i wish it would break already from this range ! what's ur take?
thanks for your good analysis.
hi ricky,
thanks for dropping by and finding my blog useful... hehehe
here's my analysis on ACR as of Jan 28, 2010
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