$PCLN and a potential mirror image fold back
have blogged about “mirror image foldbacks” before … when they work they are truly amazing. do a “search” for Mirror Image Foldback on this site and you’ll see the work. right now, it appears the Natural Gas Mirror Image Foldback is at risk of feeling … other than that, most have worked.
here’s the picture of a mirror image foldback for $JEC. note the geometry of the parabolic blow off. much like a LOT of stocks out there …
then, below these charts is the mirror image foldback for $PCLN.
here’s the POTENTIAL mirror image appearing on $PCLN. Note, the second chart shows the “daily butterfly sell” that is “causing” this … this will be a very good one to watch. These patterns all fail when the high is taken out .. all probability folks.