Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Ryan Mak who wrote (4911)	3/5/1998 10:39:00 PM
From: TATRADER	Read Replies (4) of 7396

Ryan, RCMT has two patterns...Let's take the one that gets me most keyed... Look at a chart from 1991-1998 on this stock...What do you see? I see a Head and Shoulder Bottom with base of Head at 2.50 and neckline at 17.50....That is a 15.00 difference...Add 15.00 to 17.50 and you get my one year target on this stock=32.50....Now that is a nice piece of change for a year's work... Shorter term: Look at a one year chart.... I have a rectangle pattern from 15-18...Using Fibonacci ratio of 1.62, you get a short-term target of 22.86....You could argue that I should only add 3 and thus we get our 21 target, but if the ADX is strong, I will lean toward the first Fibonacci ratio... Regards, Mark

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