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Smiths DS: SMDS Head and Shoulders breakout

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13 years 2 months ago #3027 by remo
This looks bearish with a Head and Shoulders breakout and a 123 high.
There is also divergence on the RSI which is really clear to see.




Stops should be above 209 so small risk .If your brave then you can put the stop closer at 206 ;)
The head and shoulder has come right at the height of this share



DYOR
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13 years 2 months ago #3343 by manfrombrussels
Just wondered on people's thoughts as to whether the head and shoulders is still on here, looks like it to me.

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13 years 2 months ago #3356 by remo
The play is still valid as long as the price dont go above the high. At which point it will be a false one.
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13 years 2 months ago #3357 by manfrombrussels
The high being the high of the head and not the left shoulder ?

Thanks for your help.
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12 years 8 months ago - 12 years 8 months ago #7011 by redchilly
Replied by redchilly on topic Smiths DS: SMDS
Nice gap fill y'day
today's candle making a HH and a HL


I have an order to open Long position tomorrow at 248.5
SL is below y'days low which is 240 (which is also 50% fib)
Last edit: 12 years 8 months ago by redchilly. Reason: typo
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12 years 8 months ago #7054 by redchilly
Order got filled
Long with a SL as below

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