Posted by Tom C.
Here are two of my favorite charts from this week with brief explanations:
AMLN - a classic cup and handle pattern with consolidation at the previous high (which was the handle), and a three bar pattern that offers a very high success rate:
Note that the target (FE) was just a few cents below a whole number ($24)...see my previous posts if you don't understand my point here.
ABX - another pattern with a high success rate - a gap up with a first bar close in the top half of its range, the second bar is narrower but stays in the top half of the first bar's range, and the third bar was a nice "hammer-type" candle that closes green and just above the morning high.
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