Patterns in trend following repeat consistently. However that does not mean the trade will work. MBLY Mobile Eye is in the forefront of self driving cars. There was a W formation in MBLY as designated by the arrows. Currently there is a cup with a handle demonstrated. The key is find the strongest stocks in the strongest sectors and look for trend following canslim break outs.
There is much more to trend following such as correlations and money management…however for the sake of this post, my goal is to teach canslim trend following patterns.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE (“FOREX”) IS SUBSTANTIAL.