Wednesday, May 17, 2017

JNUG: An E-Build Study

Sideways Wedge Pattern

The E-Build is a sideways wedge pattern, here with staggered ABCDE notation, which presages a potential E-Breakout.  Often enough the trend direction is unclear until the E-Point is determined, and it may require the B to become A, etc.  Nested E-Builds, as in this example, strengthen the move significantly.

Combined with the recent shallow angle uptrend base in JNUG, this entry was both low risk and likely to finish higher than usual.  A trading range peak of 22.50 is possible – maybe more.

Stay Tuned!

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