FTSE Triple Top?

HarryHindsight

Junior member
35 0
This caught my eye: a potential triple top on FTSE futures ?

Now clearly this is a bull market, so going short… doesn’t strike me as the best strategy. Nevertheless I can’t resist posting my armchair technical analysis (simpler, the better as far as I'm concerned).

[other bits and pieces on http://harryhindsightnews.com/2014/05/04/4-may-2014-chart-check/ ... just a personal blog/hobby)
 

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Splitlink

Legendary member
10,850 1,234
This caught my eye: a potential triple top on FTSE futures ?

Now clearly this is a bull market, so going short… doesn’t strike me as the best strategy. Nevertheless I can’t resist posting my armchair technical analysis (simpler, the better as far as I'm concerned).

[other bits and pieces on http://harryhindsightnews.com/2014/05/04/4-may-2014-chart-check/ ... just a personal blog/hobby)

Triple top does not seem to stand out, to me. You sure it's not ranging?
 
M

member275544

0 0
I'd agree with Split, not only does it not look anything like a triple top, where its trying to reach/break a point for the 5th time now if anything it resembles an ascending triangle were we going to apply a chart pattern to it
 
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lockstock

Well-known member
400 4
I agree, an ascending triangle, although it did triple top on the daily chart with a nice grave stone doji printed and sure enough next day it opened down and hasn't looked back.


Someone#'s misery is going to be someone else's buying opportunity, will we be heading for the bottom of the ascending triangle or are we printing out a sideways channel of circa 6795 to 6780?

Only time will tell, trade what you see and not what you think.
 
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