Target#1 Hit, but Fairfax at critical point, could go either way
As per my previous CORRECT analysis, back on the 8th of February 2017, (tradingview.com/chart/FXJ/bfz7O2yP-Fairfax-FPO-AU-Analysis/) a Flat channel/consolidation has now completed, trade closed and profit taken! Price action exited the channel and has then dropped back into the channel via a significant GAP.
This seems to be a precursor to a possible new consolidation, upward move or downward move.
I shall now sit on the side and await more price action, however going by the WATER and MUSTARD EMAs, should they cross or not, it should provide a better idea about possible future direction, as well as Fundamental announcements in the coming weeks and months.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
----------------------------------------------------------------------------------------------------------------------------------------------------------
This seems to be a precursor to a possible new consolidation, upward move or downward move.
I shall now sit on the side and await more price action, however going by the WATER and MUSTARD EMAs, should they cross or not, it should provide a better idea about possible future direction, as well as Fundamental announcements in the coming weeks and months.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
----------------------------------------------------------------------------------------------------------------------------------------------------------
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.