pennant analysis Short

Bitcoin / U.S. DollarMt.Gox

Description

⋅ Sep 1, 2013 9:28 PM

A pennant is forming which, considering the low volume downtrend, has an 88% chance of a down burst.

It should retrace by 51% of the flag height (A -> B), starting with the highest point reached inside the pennant, reaching point D.

reference: Bulkowski's Pennants - thepatternsite. com/pennants.html

Comments

BitcoinMedusa

⋅ Sep 1, 2013 9:31 PM

Bulkowski is such a respected trader/author. Here is the full site address. thepatternsite.com/pennants.html Thank you so much for doing this chart for all of us. It is important work. Sincerely, Beauty