David Stafford's  Instablog

David Stafford
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Student of markets, enjoys following their course.
My book:
Around the World in Several Pieces
  • Ask And Thou Shalt Receive. MPW Technicals 0 comments
    Apr 12, 2012 12:40 PM | about stocks: MPW

    Alhamdulilah the pattern mentioned earlier has appeared at least partially, but just to give a basic example of the pattern mentioned earlier, here is a little mark up of today's chart.

    To use a sequence of 3 events everyone would be familiar with, the first rise is at red(here looks kind of orange-ish), the pattern is on. We proceed to a second high at the yellow line, and then top out at least temporarily with the green line. This particular example is really a fine one because of the logical beauty of its conclusion. For, you'll notice if you look at this particular series of movements in price on your own more customizable view of the market, that the top is marked by a kind of miniature u pattern. Where that kind of temporary high was created and reaffirmed by two symmetrical highs, its really kind of beautiful from a technical perspective.

    Just for the sake of citing the work of others, this was originally taken from a screen-shot from yahoo finance's page on MPW.

    (click to enlarge)

    Stocks: MPW
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