Long Term and Multi-Timeframe Charts Notes – $BRCD

Some quick notes on long term charts and their usefulness for breakouts and trades, using $BRCD as an example.

1 – long term breakouts/charts like even numbers (especially $10).

2 – long term breakouts usually don’t succeed their first time. But a retest and then real breakout can be a great setup. $9 and $10 were too easy. Retest them once, twice, $8 too, now work on $11 for the second time. If that goes I thinks its a legitimate breakout.

3 – buyable long term breakouts line up on multiple time frames.

monthly: above

weekly:

Daily:

Needs some time and patience, but if this one goes it could be a good long term buy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s