Know Your Angles
I received some emails recently asking about the angular triple top, and how
it plays out on a chart when you get a breakout above it. Normally, when a triple
top is formed, the line drawn across them is more or less horizontal. With the
angular version, however, the only difference is the tops occur on an angle.
This chart this morning led to the following alert in the Insights
From The War Room:
12:54:43
Intraday Setup Alert
The Nasdaq 100 Tracking Stock (QQQ)
looks like it is starting to break out over an angular triple top on the
five-minute chart. QQQ is now down 0.15 at 40.35.
When the QQQ’s bust a move, they run more than .40 higher — a
nice move on a choppy, slow day. Notice also how the angular resistance became
support on that angle after it has been breached. Consider this another weapon
to add to your trading toolkit.
Until tomorrow,