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Author Message  msparks Member Username: msparks Post Number: 583 Registered: 10-2004 Rating: N/A Votes: 0 Tuesday, July 25, 2006 - 07:02 am:      holycow Member Username: holycow Post Number: 2490 Registered: 08-2004 Rating: N/A Votes: 0 Tuesday, July 25, 2006 - 09:34 am:     MS, Well spotted. Timing wise, I think it shouldn't happen this week... not after I have laid my bets! INCREDIBLE OFFER     -    only $12 USD per month FREE Incredible Charts Pro software Powerful stock screener End-of-day data for NYSE, NASDAQ, AMEX and ASX Ten years adjusted data history; and Hundreds of Indices 30 day FREE trial    -     Download Here  HC "... if you've got a chart, I have an opinion!"  mads Member Username: mads Post Number: 17 Registered: 12-2004 Rating: N/A Votes: 0 Tuesday, July 25, 2006 - 12:17 pm:     I read that one should "never trust a head and shoulders pattern where the neckline is clearly ascending (the second trough being higher than the first). Also, the more level the neckline, the more reliable the pattern". Does this not apply here?  holycow Member Username: holycow Post Number: 2496 Registered: 08-2004 Rating: N/A Votes: 0 Tuesday, July 25, 2006 - 01:57 pm:     Mads, Yes, I agree strongly with your second point on a level neckline. On the first point of ascending neckline, I have some bad experience before but right off I couldn't find an example to show you, I guess I will have to find harder. Sometimes I see RHS H&S as a triangle if the volume doesn't echo the price pattern. But in general, if I were to see many stocks are showing H&S, regardless of their "gradient" of neckline, I will be cautious. It's always a case of rather be wrong than be sad. Good point and a good reminder. Thanks. Cheers. HC "... if you've got a chart, I have an opinion!"  holycow Member Username: holycow Post Number: 2497 Registered: 08-2004 Rating: N/A Votes: 0 Tuesday, July 25, 2006 - 02:02 pm:     Mads, Regarding Rio's H&S I think I will give it more time, right now I don't think it is reaching the neckline yet on the daily chart. I won't rule out its possibility at this point frankly. Cheers. HC "... if you've got a chart, I have an opinion!"  holycow Member Username: holycow Post Number: 2620 Registered: 08-2004 Rating: N/A Votes: 0 Wednesday, August 16, 2006 - 01:47 pm:     Mads, Here is a good example of what I was looking for... Cheers. HC "... if you've got a chart, I have an opinion!"  mads Member Username: mads Post Number: 31 Registered: 12-2004 Rating: N/A Votes: 0 Wednesday, August 16, 2006 - 02:05 pm:     HC Thanks for that. I see exactly what you mean. I will keep it in mind and be very cautious in future whatever the gradient. Do you think OXR is suffering the same symptoms as OSH? Mads

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