RE: Breakout28 Feb 2025 11:15
Thanks Taverham and I know exactly what you mean.
I have been basing my forecasts on the parabolic curve on the chart and obviously there have been ups and downs along the way but the fallbacks have been too small to trade, and with SRB, the stamp duty makes it harder than with other AIM stocks.
But this latest jump up was very steep and as Nimrod said, it looked overbought.
Is this dip over? I don't know. I don't know how to read the intra-day chart.
I'm keen to see what happens to the gold price when Wall Street opens. Even without the fall in the gold price, the SRB price was going to drop back, but the fall in the gold price might possibly have made the fallback greater that it otherwise would have been. If so, then if the gold price drops further when Wall street opens, then SRB will drop further. This isn't a forecast, it is just theorising, or is the correct word waffling?
I have just looked up a tutorial on the parabolic curve. It is worth reading, just part of it -
"The parabolic curve chart pattern derives its name from the parabola, as the ascending curving line used to trace out this pattern from the candlestick price action looks like a parabola. This pattern can last for weeks and sometimes months. The price action pattern that creates the parabolic curve looks like a staircase. For traders who understand how to trade it, the pattern can give the discerning trader some unbelievable returns within the shortest possible time.
As a rule, you will find that the trading opportunity of the parabolic curves patterns tend to occur at or near the end of a major market advance, and the pattern usually forms as a result of multiple base formation breaks. This strong price pattern like this can provide a trend trader with magnificent high returns within a short space of time.
However, towards the end of the formation, the price usually makes the biggest move straight up into extremely overbought territory and then ends suddenly with a dramatic price plunge that falls even faster than it rose."
https://therobusttrader.com/parabolic-curve-stock-chart-pattern/
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