14 Oct 2019 - JSE:FSR - Long - Ascending Triangle - NEAR TRADE
JSE:FSR is nearly ready to buy (go long) due to an ascending triangle that's been forming since 8 July 2019. You might be wondering why I'm not calling it a Cup and Handle pattern instead. One reason - The right rounding bottom is more than 50% the cups height. Hence the stop loss will be wider, and the take profit will be extended higher than normal. I'll update this analysis, once we have seen a confirmed breakout, close above and a new candle opening above the resistance.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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