TESCO

This is looking very interesting.

My guess is a triangle with another down move to around the 300 mark..... but it could also be the start of an impulsive wave up

Why do you draw your descending trendline the way you do? If you draw it across the peaks, you get a logical target of around 409. It also looks as though we currently have an expanding triangle formation with a nearly flat top around 387/388. The SP has just made it's 3rd attempt at that resistance level and for the moment looks like it has failed. Expanding triangles could break either way, but those 3 strikes against a flat edge look like this one may have a bias to the upside? Might be worth watching what the SP does between 363/366 and going long/short around there depending on whether it breaks down or not

screencast.com/t/sSX9anEKX

I only put the upper trend line on the chart to highlight the triangle. Personally I don't put much store by trend lines unless they happen to coincide with other indicators and they touch prices in at least three instances. I am much more interested in fib percentages and wave counts coupled with RSI divergences as can be shown from this more close-up chart....

This ones from the share tips for this week as well
This hit the gap resistance perfectly and reversed a couple of days ago.
sorry for the delay in posting all these...been busy with the website.


dl.dropboxusercontent.com/u/4899609/tesco26thjuly.png

Keep an eye out for this closing above 375.8p. It's been in a 14p trading range and a break upwards would target the 390p resistance nicely. Obviously, if it breaks down then the target would be c. 347p:



dl.dropboxusercontent.com/u/20815047/FTS...SCOdaily18_09_13.png

Jackozy wrote: Keep an eye out for this closing above 375.8p. It's been in a 14p trading range and a break upwards would target the 390p resistance nicely. Obviously, if it breaks down then the target would be c. 347p:

dl.dropboxusercontent.com/u/20815047/FTS...SCOdaily18_09_13.png

Hi Jackozy
Thanks for the heads up mate. Thats the whole point of chartsview and if everyone was able to show great set ups it would make all our lives easier as then we would have more eyes on the market. That is the primary reason ive set up chartsview for. Its hard when one or 2 people are looking all the time. Its easier when theres a whole army
Thanks mate.