Morning Report Tuesday 13 October 2015
Three Australian stocks with almost identical bullish chart patterns
As discussed previously, markets repeat both statistically and in "shape" so investors / traders are wise to be aware of these patterns as they unfold to assist in identifying potential opportunities.
Obviously the most important aspects of investing / trading after identifying a potential situation is both satisfactory risk / reward and the respective fundamentals . Very often from a technical perspective a chart looks like a spider had too many wines, walked through the ink, and across the page making things difficult to interpret.
We are of the opinion that many "chartists" mistakenly believe in only one style of analysis and try to fit it to all markets at all times! At Market Matters it is our opinion that you should only apply it when it's very clear. Once again, patience is a virtue; ‘forcing’ a trade will usually result in disaster.
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