Friday, January 15, 2010

Two charts




Quick look at two charts:

First chart is Top40 (J200) 15min and is showing head and shoulder with neck line. Same picture can be seen on ALSI 30min chart.

There are some 650-700 points in this formation. Of course, one must wait for break of the neck line to enter trade.

Trade with trend!

EDIT: Neckline broken. Target for ALSI 24800 but don't forget back test


7 comments:

Anonymous said...

Nice charts thanks for sharing

Alsi Trader said...

Thank you Anonymous.

Anonymous said...

Thanks for update ALSI

Alsi Trader said...

Thank you Anonymous.

Will try to post charts more often if readers find them useful.

Anonymous said...

Thanks

But TOP 40 is sitting on the major support trendline @ 25,200

Be careful out there!

Alsi Trader said...

I don’t see it as major, but yes – there is a trend line which started on December 10th and it is around 25200 as I type this.

In my opinion – major trend lines are around 24900 and 24600 and these lines are running for several months now.

At the end, every trend line gets broken.

Thank you for the comment

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