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TOPIC: Ithaca / Trendline Breaks?

Ithaca / Trendline Breaks? 22 Nov 2012 16:12 #1

  • longterm_view
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I don't have that big pin bar on mine in August?

Also my trendline does not meet in the last part of the chart! :unsure: Its nowhere near close to a touch.

I can see why you dont use ig charts. I checked google and it says 40.40 as a low. But this does seem strange. :unsure:

dl.dropbox.com/u/21384991/Ithaca%20Energ...Plc%203%28DFB%29.png

dl.dropbox.com/u/21384991/Ithaca%20Energ...Plc%204%28DFB%29.png

Something is wrong with the charts! :angry:
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Ithaca / Trendline Breaks? 22 Nov 2012 15:54 #2

  • remo
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hi longtermview

You need to redraw that chart now with a new trend line taking in the lows.
for some odd reason my chart dont seem to go as far back as yours ..very strange.

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Ithaca / Trendline Breaks? 22 Nov 2012 13:56 #3

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Ithaca / Trendline Breaks?

I watched remo’s video in the learning section on trendlines but have found Ithaca and was wondering?

When a trendline breaks but then the price reverses back above, does the trendline still count or do you draw a new trendline as in the video?

dl.dropbox.com/u/21384991/Ithaca%20Energy%20Plc%20%28DFB%29.png

It seemed to have an island reversal on 25/06 – 04/07. It gapped below then gapped above days later. I think therefore the trendline is still valid?

It then closed below on 23/8, then back above again by 01/11. It then respected the trendline again on the 16/11.

dl.dropbox.com/u/21384991/Ithaca%20Energ...Plc%202%28DFB%29.png

I hope i've explained it. :) It’s clear to me!!!! :blink: :blink:

Many thanks in advance

Dan
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