The beginning of an uptrend back to 38p?FBT has been trending down for a long time, is this a false dawn or a turning point? Comments?
FBT trade ideas
FBT.UK FORBIDDEN TECHNOLOGIESGaps may be filled, seems FBT likes gaps filled.
IMO no advice intended do your own research.
BWTFDIK.
Time For an ABC Correction?Elliot Wave Rules:
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.
Postulate
Is it time for an ABC correction? Fibonacci seems to align quite well....
FBTFBT ,I note a head test(red) of the previous inverted head and shoulders (green) these usually play out, ref 2008 crash on US index look for similar pattern but in a bull market eg. invert everything. Russel, SP etc had this formation in the bull market head and shoulders then a test of the head which failed and then cam the crash.
Here we have a head test on an inverted head and shoulders in a bear market so if the head test fails here we should see a rapid accent.
FBT - bullish bat?Harmonics don't often work on small caps & the A-C and X-D angles on here aren't exactly 88.6% BUT it's a pretty good looking bat all the same.
#FBTThis chart is weekly chart showing the overall massive pattern - the smaller patterns are still in play.
In my own opinion this major pattern still favours 38-49p as a target.
#FBT Long add or entry.Major support trend just below, however I feel this little flat move could hold, hence my adding at this level.
No advice intended.
In my own opinion.
Hold FBT and add at support May come to test lower support 8p area Still long for the massive major pattern.
#FBT The major pattern in play, placing made the shoulder broader but target same, support 9.8p and 8.50 p
FBT IN H/S ALMOST FORMED AWAIT CONFIRMMany were calling for inverted H/S since Jan, rules are finally coming together for confirmation.
BWTFDIK
