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SHS is a trend reversal pattern. A pretty reliable one too. But not 100%, just like everything else. There are often failed SHS setups, which is why patterns are an edge, not a certainty. Put the edge in the best possible risk reward entry and use an acceptable stop loss and you'll live to play another day.
left the latest thoughts in your thread. As per that intraday chart I put there, an entry long at the pivot today would be working now I did not take it - I will wait for lower channel entry. But bias is long.
Having some PC probs this weekend. I had just about finished charting LSCP for you IamOrien, but lost it before saving! grr. I'll have to fix this prob first.
Good weekends all!
Well folks,
I've been on vacation and haven't watched my stocks for over a week now.
I just checked my portfolio and discovered that I have made a nice little profit on SNCI during my recess time. It also appears to me that SNCI may be setting up a possible S-H-S formation. I'm sure the great Spike could either confirm or unconfirm this.
If this is what I think it is, it should drop a little as it forms a handle and then should build volume and run up. the buy point would be around $10.50.
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