Chart patterns -- The funnel

Discussion in 'Technical Analysis' started by Pekelo, Feb 9, 2018.

  1. Pekelo

    Pekelo

    Here it is. I put a circle where after the break out one could have entered short at 2636, when the former support line of the funnel became resistance.
     
    #11     Feb 12, 2018
  2. Forgive me for saying so, but all you've done here is identify a 2-bar pullback. So why the fancy name and diagonal lines?

    Your first chart is just a larger pullback. In fact, so is this second one, but you have excluded it, drawing your diagonal lines for the smaller, 2-bar pullback that followed.

    Why the complexity?
     
    #12     Feb 12, 2018