Afraid to Trade Blog - Latest Comments in Did the Triangle Break?

Re: Did the Triangle Break?

Corey Rosenbloom — Tue, 26 Feb 2008 00:49:57 -0000

Jonathan,

I'm with you. I'm not at all surprised that the triangle appears to be breaking upwards, because everyone was expecting a downside break.

Now that everyone is seeing the break, it wouldn't surprise me if the triangle failed (meaning, burst out initially to the upside, fail, reverse, then eject downward).

It throws a monkey wrench in TA when everyone's keen on the pattern being observed.

Re: Did the Triangle Break?

Jonathan — Mon, 25 Feb 2008 22:51:21 -0000

I'd like to think that the triangle broke, but I often just watch a pattern pick a direction and trade the first decent pull back or consolidation. I'm hoping I get the opportunity with this one. One thing that should be interesting to watch is how this triangle behaves now that "everybody" is watching it. I hear it was even mentioned on CNBC!