RCF- Cross of Mini Double Top will take to next swingThere is mini double top in the zone 54-55. Once price crosses that range & sustains looks to travel upside to previous swing marked by yellow line. Its a 8 year triangle in RCF since 2008's fall.
RCF trade ideas
Flag breakout with Volume RCFBeautiful Pole with vertical bars, 3 bars consolidation and breakout with volume all makes it a good trade-able Flag pattern. Enter on the dips(if it happens) or at the price level where stop loss of 54.5 is affordable for a target of 67.
RCF - Cash Investment opportunity!As shown on the weekly chart, RCF is about to complete a 8 year old symmetrical triangle.
What makes it special is-- there is a good inverted Head and Shoulder price pattern (S-H-S) in last leg.
Breakout is above 54 - 58 zone targeting 130+++
RCF possibility of H&S breakout (Educational only)As can be seen there is first possibility of H&S breakout with sl @45 on closing basis and first target of @65-70.
2nd possibility is for triangle breakout which can give target @ 120 approx.
Chart for educational purpose only.
RCF- H & S Pattern (Above 54-55) Neckline ActivatesH & S pattern with the neckline at 54-55 shall take RCF to the zone 72-74 which is the ideal target zoneHead & Shoulder
