EEI (EEI Corporation)

[yeahbah]

Hit 38.2% resistance in the weekly chart. Uptrend from early 2009. I don't see this going up, down maybe, 2.1?

eei2.png (155.85 KiB) Viewed 922 times

eei1.png (127.71 KiB) Viewed 921 times

[yeahbah]

Potential Bullish Bat

eei.png (173.61 KiB) Viewed 789 times

[yeahbah]

Potential Butterfly

eei1.png (177.66 KiB) Viewed 786 times

[betheone]

parang mas fit yung butterfly than the bat anyway, pareho naman bullish.

[yeahbah]

at magkalapit din ang D point

[betheone]

yeahbah, when can we say the potential pattern failed? Based on chart, downtrend to pt D seems to have reversed.

[yeahbah]

When any of the harmonic pattern points are invalidated.

Say for example in a Gartley pattern, XABC is already in place and just waiting for D. The price went below B then reversed from 61.8XA then went above C. Wasak na in this case.

[betheone]

How about a simple gartley for EEI?

[genkumag]

"Potential Bullish 5-0 Pattern"

Entry: As close to 3.20
Stop: 3.15
Target: 3.85
Resistance: 3.60

The retracement for the BC leg to CD is 61.8%, which is contrary to the 50% retracement prescribed for the 5-0 pattern to be valid. However, Scott Carney suggested studying the range of the BC leg in order to determine the appropriate retracement level. Again, it's debatable whether the use of the 61.8% is correct... I guess we'll just have to see.

Comments as usual will be most welcome and appreciated.

Regards,

genkumag


PD: with position.

[yeahbah]

Pwede ito kaya lang sa sampung trade ko ng 5-0 pattern sa forex, 11 ang failed