View: cake.png

cake.png

CAKE: Symmetrical Triangle. Will give a nice 6 point move. This is a neutral pattern so wait for the break of either support or resistance to determine the direction. "Have your cake and trade it too ".

Comments

DinkDink
Any thoughts on the XLY? Potential H&S? 6/19/14
Mike1981Mike1981
A little symmetry there as well. Connect the March High with June High = resistance and support = connect Feb low with April low. Once price moves through one of those levels then you should see a fast 5 point move. I think it's more symmetrical because there is nice descending volume from the beginning of the pattern. 6/19/14
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