Chart Patterns by Thomas N. Bulkowski

Author:Thomas N. Bulkowski
Language: eng
Format: epub
ISBN: 9781119274926
Publisher: Wiley
Published: 2016-05-30T00:00:00+00:00

Application

How do we apply the information in this chapter to the setup shown in Figure 10.14?

Price trends higher from G to B1 over the long term, so Figure 10.7 applies. That is the only figure that has price trending higher over the long term with the head-and-shoulders forming a peak, not sliding down a short-term trend (as it does in Figures 10.8 and 10.9).

Although I sold a portion of my holdings in a timely sale (which missed the sharp plunge at F), I held onto the remaining shares. Thus, I was given the opportunity to participate in the rise after the head-and-shoulders busted, just as Inset 1 of Figure 10.7 shows.

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