Thursday, October 09, 2008

Bullish Rounded Base - Flowserve Corporation (Public, NYSE:FLS)

Rounded tops are bearish and rounded bottoms are bullish. FLS formed a bullish rounded bottom (3 NRBs on 15 min.) at the 50% Fib. retracement of the ORL to the morning swing high. Partial out at P and R1.


anarco said...

Beautiful Jamie!
I also like how FLS looks like a mini inverted H&S in the 1 min chart.

Jamie said...

Thanks Anarco,

These rounded shallow base patterns are hard to come by, but they work really well.