IBM – failure and a new set up
11/03/2018 – well our IBM pattern failed and got smoked. As I’ve shown before, the candle on IBM is what a ‘failed pattern’ looks like … so, as you can see below we have another BUY pattern emerging on IBM. It’s got some ‘time’ and ‘price’ to go but I’ll be watching the level shown below as MAJOR support for IBM.
Remember, this is pattern recognition. It’s all probability folks. We NEVER know which one will work or not but we ALWAYS no how much we are wiling to risk and WHERE WE ARE WRONG. In this crazy game, especially in the current volatile market we find ourselves in isn’t that the name of the game …?
Here’s the chart … next.