riding/bert3 May 2012 11:29
dont misunderstand my view or intentions chaps. i know very well that the best price action and profit can come from a 'busted' pattern rather than a pattern itself! many times a technical pattern will break opposite the odds and provide fantastic results, as Mr Bulkowski clearly alludes to there. No, my point, perhaps missed, is that the pattern itself is fundamentally a bearish pattern with a 64% chance of a downside break historically. the purpose of my post was merely to highlight that point.
AYM its self could go either way, its held on to 19.25 several times now (i think 3 or 4 from memory) and of course we all know that support weakens the more its penetrated/tested, so at best this is a low risk long with stop under that support (say 1p for the sake of a spike through)or alternatively it'll break and head to 15p quickly. again, my point was merely to highlight the odds as the aym posts i had read here were jaundiced, weighted, regurgitated versions of posts from 'complete trader' . my attempt at redressing the balance if you like, however unwelcome.
anyhow, best wishes here and on aym should you take the trade.