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Recently watched Jason Stapleton's seminar on his 2618 Strategy. Really enjoyed the Free lesson and encourage others to go see for yourself. Jason is straight forward and up front about the limits of his 2618 system. I applied his double top rules to a trade I am currently long in to see how it performs. Peix is in a strong uptrend, as the chart illustrates. So, this may be the worst case to even try and apply the 2618 system for a short in this particular stock at this particular time. As the examples highlighted demonstrate, shorting on a 30 minute time frame would not have been very profitable using the system. Despite this fact, I still found the information useful and interesting that every pullback started with a double top just as Jason describes in the seminar. Thank you Jason for sharing your insights!
Potential double bottom in progress now following 2618 rules. Need a break above the green line to confirm. I prefer this system when it goes with the trend. We will watch and see if this is going to confirm and then allow for an entry following rules.
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Bounced right off the .618 retrace giving a brief entry. Looks like IHS at this point if confirmed with a target of 22.50.
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This IHS consolidation pattern looks confirmed though most subtle .
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Target reached!
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