Hi Coke,
i was reading the book on chart patterns by Bulkowski, and found out that broadening tops and bottoms have almost the same tendency to breakout to upside as well as downside. only a partial rise at the end predicts a downside breakout, and the partial decline at end predicts an upside breakout.
is this the only way of predicting the direction of breakout, or am i missing something?
also in this example given by you there was a partial decline and partial rise at the end, which makes it more confusing about predicting the direction of breakout.
GTA
i was reading the book on chart patterns by Bulkowski, and found out that broadening tops and bottoms have almost the same tendency to breakout to upside as well as downside. only a partial rise at the end predicts a downside breakout, and the partial decline at end predicts an upside breakout.
is this the only way of predicting the direction of breakout, or am i missing something?
also in this example given by you there was a partial decline and partial rise at the end, which makes it more confusing about predicting the direction of breakout.
GTA