$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.

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets. View all posts by BART