Saturday, October 13, 2012

EDC

EDC formed a ascending broadening formation (bigger pattern)... A megaphone shaped pattern... tilted up with horizontal bottom. Inside that pattern we see 2 head and shoulders top.... Now, will it repeat the pattern the 3rd time? To negate that, EDC move up and break 6.23 and 6.45 otherwise there is a possibility that it will again breakdown from the head and shoulders pattern inside the bigger pattern.

Good if EDC will breakout from the said resistances... Think twice if breakdown from the possible neckline of the 3rd H&S.

Just sharing my observation...

Pd: No EDC