Thursday, September 30, 2010

MSPD Back on Track?

I've liked this trade for quite a while, we had several false breakouts, the bear flag downside continuation pattern and the break of the neckline in the H&S top, both seem to be resolving to the downside and I still love this trade, I never lost hope in it as a short.

Daily showing the H&S top, the bear flag and the break back into the bearflag. A move below the neckline will be strong confirmation.

The 15 min 3C chart
The negative divergence at the breakout is why I felt this was a false breakout.

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