Adventures in hawaii on In our current chart, bulls had broken away in bar 1 from buildup that still resided below the 25ema. Technically, this stood to attract more contrarian attention than the break in the foregoing chart. Consider also that the 50-level here lay positioned in line with the descending average (adverse magnet) . The break took off nicely regardless, but this hardly changed the conditions at hand. For this reason, the pattern break pullback offer above bar 2 is best left untouched. It took about an hour for the bulls to realize that their efforts to bring prices higher were futile. Note how once again a little evening-star pat- tern set up the break below the angular pattern line (3-4-5) . Adventures in hawaii 2016.
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