ENQ

This looks like it's made a perfect trendline backtest today (so far):



dl.dropbox.com/u/20815047/ENQdaily14_11_12.gif

I am short on this from 115p with targets at the 92.45p gap and 84p low.

Thanks remo. Yes, I'd agree with that - the height of the triangle taken from the breakout point. As you say, in this case it's 52 points from the 115/6p breakout to target the 84p low.

I think we must bear in mind, though, that with ENQ it hasn't got the longest price history so it's hard to justify a "normal" symmetrical triangle target.

Also, until close we can't be sure it's broken out and even then it could be false....well, you wouldn't want it to be easy would you lol!

where it breaks out from is where you start to calculate the target from.

So the targets are taken from the 1st 3 points of the triangle (in this case from J's chart 84, 136, 105? An in fact the target has nothing to do with the actual point on the triangle that the break is made, just the start of the outer trendlines delineating the triangle?

me personally.
takes the target from the mid way touches.
but its meant to be from the hight of the touches so from jackozy chart from low of 84 to the high of 136 which gives you 52 point target.
if you were to take it from the mid way points then that will be high of 136 to low 105 which then gives you a target of 31 points. But the right way is the height of the pattern.

hope that makes sence
remo

How do you calculate the target J? Here's my view of the same thing

Is it that arrow (from the breakout if it confirms); i.e. vertical distance at start of triangle from breakout to point lower trendline? Not too clear on this? Have been trading this on and off and waiting for this breakout too.


screencast.com/t/oLsFsWHOWRK