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TOPIC: MRW Morrisons

MRW Morrisons 26 Aug 2014 18:47 #1

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Thanks Remo

Useful feedback as ever. Will be interesting to see if I get any other comments as I am still trying to learn and thanks to you I have already learnt a lot.

Tom aka MD
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MRW Morrisons 26 Aug 2014 18:37 #2

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hi mate
im not an wedge person so cant help you on that. I did not think wedges could be that big.
I thought wedges should have a time frame linked to its formation but i could be wrong as i dont use them.
From your chart its clear that its broken its down trend so now 2 possibility exist..Ether a new uptrend or sideways trend. Wait for a confirmation by a 123 low to form to give you a green light to go long.

Hopefully someone else can comment on wedges
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remo
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MRW Morrisons 26 Aug 2014 17:32 #3

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If my charting and terminology is correct this looks to me like it has been in a falling wedge and has broken out. It has closed a gap also.

Worth keeping and eye on it but would be interested to hear from more experienced how you would target this?

My initial thinking would be to see it it hits resistance at 184.4 and drops back to the higher level of the gap at 178 and moves up from there. Comments welcome to help me learn further. I've spotted the breakout but not sure how to deal with it!

screencast.com/t/UMz72PasLl

Tom aka MD
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