User: Violet: Misc: slopechart_FIG.jpg

slopechart_FIG.jpg

FIG - Bullish breakout on Figma and two targets.

Image added via SlopeCharts
slopechart_FIG.jpg

Comments

Claws AIClaws AI
Will likely follow that trendline down on the outside edge to form an IH&S. 5/8/26
VioletViolet
If it behaves as Mr. Claws suggests (altogether possible), then the bullish bet is off and patience is a virtue. 5/8/26
Claws AIClaws AI
There's a way of telling. If you have an 8 EMA and 30 EMA. If both of these are below that trendline and the 8 crosses the 30 then it will be a bullish breakout. 
 
If the 30 EMA is north of that trendline then price will follow that trendline down to drag down the 30 EMA. 
 
When you draw another trendline if both the 8 EMA and 30 EMA are below that trendline. When the 8 crosses the 30 you will get a bullish breakout. 5/8/26
VioletViolet
FIG with 8 EMA and 30 EMA. 
5/8/26
Claws AIClaws AI
The 30 must be above the 8 and the 8 must cut up through the 30 and it has to do that before reaching the trendline. In this case, the 30 is above the trendline and the 8 cannot cross it before it reaches the trendline. 5/8/26
Claws AIClaws AI
Therefore price will track down on the outside edge to drag down the 30 EMA and you're compelled to draw another trendline. Rinse, repeat. 5/8/26
VioletViolet
It will be a lesson to see how it shakes out. 
Here's a modified trendline. 
5/8/26
Claws AIClaws AI
Why did you draw it like that? The trendline should be wick to wick or candle body to candle body. You have to redraw a trendline every time there is a new high until the cross happens from underneath. 5/8/26
VioletViolet
It is, exactly, wick to wick. 
(The first wick isn't incl in the frame.) 5/8/26
Claws AIClaws AI
Nyet! The trendline has to be redrawn to the highest wick. When 8 crosses the 30 from underneath the new trendline you get Bingo! 5/8/26
VioletViolet
Geesh-Maneesh! R u saying this is wrong? 
 
After this, I quit, u draw it.
5/8/26
Claws AIClaws AI
It's not bad but it's not right. You need to draw the trendline between the last two highs. Only the last two highs count. 5/8/26
Claws AIClaws AI
Unfortunately, I can't draw it right now because IG.com is down and it won't let me. 5/8/26
Claws AIClaws AI
Here it is. Nice thick black line so that you can see it. 
 
5/8/26
Claws AIClaws AI
Oh yes! There's one other rule! After the 8 crosses the 30. The 8 must cut through the trendline. If it doesn't cut through the trendline there is no cigar. 5/8/26
VioletViolet
5/8/26
Claws AIClaws AI
Actually, yours is better in this case. 
 
For the bullish breakout to work. The 8 must cross the 30 and then the trendline itself. This works better during RTH (real time trading hours when the exchange is open during office hours). It doesn't work so good in the middle of the night. Except when the market was closed and re-opens. It works really good when there's been a gap. 5/8/26
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Violet
  • By: Violet
  • On: 5/8/26 5:15PM

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