Tuesday, January 28, 2014

NU Northeast Utilites Symmetrical Triangle

Symmetrical Triangle produces a $50 handle Objective on breakout

Pattern Worth Noting DTE Energy

One of the Cleanest Symmetrical 'Continuation Patterns' I have came across as of late. The previous Pattern PFE broke out nicely for a decent return, and is mimicking this same setup. If a entry can be triggered to the long side at 67.42 before the lows of 64.52 are taken out I expect this pattern to have a High Volume Node Shift resulting in a upper trend-line breakout. Expected measured move prior to breakout is 77.75. New actual pattern will be calculated ounce breakout is confirmed