I hope you read part one about McDonalds. This is part two on breakouts to all time highs. I will show you MSFT.
Microsoft had been going sideways for about a decade. After the mini-crash in August of 2015, I felt there was in IMPERFECT XABCD pattern in MSFT. No Gartley, bat, butterfly, or crab, but, I measured the impulse leg C to D and got a possible Fibonacci projection of 1.618 or 1.786. Low and behold, Microsoft started to behave well, and the lower indicator, Vortex, went positive two weeks before the breakout. Other indicators also looked good, and MSFT went on to all time highs. Currently I see a bearish XABCD pattern in the upper right corner of the chart. Vortex is positive, so I am currently neutral on MSFT. The main idea of this presentation is to highlight breakout patterns for your consideration. Yours for better trading, Don.
Microsoft had been going sideways for about a decade. After the mini-crash in August of 2015, I felt there was in IMPERFECT XABCD pattern in MSFT. No Gartley, bat, butterfly, or crab, but, I measured the impulse leg C to D and got a possible Fibonacci projection of 1.618 or 1.786. Low and behold, Microsoft started to behave well, and the lower indicator, Vortex, went positive two weeks before the breakout. Other indicators also looked good, and MSFT went on to all time highs. Currently I see a bearish XABCD pattern in the upper right corner of the chart. Vortex is positive, so I am currently neutral on MSFT. The main idea of this presentation is to highlight breakout patterns for your consideration. Yours for better trading, Don.