- Machinery is a strong industry like CAT because of infrastructure development - Notice rectangle 4 months base of TEX from June to September - Resistance line 22 is established - Once breakout happened above 22 in October, it triggered buying into TEX 10/07 @24.34 - Strong uptrend lifted TEX all the way to 31.13 on 11/18 that is the time to take +28% profits about 5 weeks
Mostly self-learn after reading many books, magazines, and my own pattern recognization program since 2007. I focus on pattern, risk-reward (where I can find the lowest risk and highest reward through base and pivod point), trend (identify and follow the trend instead of guessing), indicators (MACD, moving average lines). You can see more examples at marketfellow.com/trades/