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Anyone know much about the "broadening top" chart formation? It appears to be what the FTSE100 is forming. According to the this http://thepatternsite.com/bt.html a downward breakout from the pattern could target a move of around 345 points. However it also notes the pattern failure rate is high. Also note a bullish divergence on the RSI, which indicates downward momentum is slowing.

Back to top.

jonuk
"However it also notes the pattern failure rate is high."

even if the market was to fall 300+ pts from your low, how would you trade it ?

its not enough to cause a complete sell off of your portfolio

and there is no trigger in the pattern to indicate where a top may be on the current rally to start day trading it short for the 300+

FTSE internals are also saying we are still oversold

Its a difficult one. Ways to trade it could include buying at a test of the low with a stop underneath (betting on a failure), shorting a breakdown or shorting if it makes it back to the top of the pattern. That could be some way off, but something like that maybe could play out. Resource investor - is this the ending phase?

No there is no trigger on a top on the current upward move in the pattern, other than the pattern top itself. I would have thought for short term swing traders selling rallies seems the better risk reward option than buying dips for the time being. Taking out some resistance (e.g. 5250), regaining the 200 day MA would paint a more bullish picture I think.

Brit Insurance (BRE.L) just completed a breakout of a symmetrical triangle pattern which had been forming over the last 18 months or so.

wakey wakey - they've just had a t/o approach so what do you expect?

Yes, values the company at 10 a share doesn't it, with Brit management wanting a better offer?

Hays at just off a horizontal support level and appears to be trading in a sideways range, will it head back to have another go at resistance at 118p..

Nestor Health Care NSR

Chart looks pretty mean to me.....

Nestor Health Care NSR..

Lovely gap to be filled........

Some nioce charts there jonuk.

pro real time, have you a link please?.

Sure, its http://www.prorealtime.com/en/

It has some nice features on it, unbeatable for free IMO. E.g. auto trend detection, programmable screeners, back testing.

Cheers many thanks.

Good to see a positive move up today, now the chart is pointing to 20p again first stop and hopefully we will get through this resistance level this time...

A death cross (50 day MA crossing under 200 day MA) on the FTSE 100. Could be a sign of more falls to come.

Volex VLX going well this morning was up 11% at one stage.

Wondering if its been tipped.

Heading for 5 year top at 210p.

With this momentum behind it we should get through that fairly easy.

International Power IPR......

never mind the bid prospects the TA chart pattern is indicating a target SP of 370p

Blinkx BLNX.

Do you wait for a pull back or do you go ahead and risk a trade??.

Best you are already in :-)