Lloyds Corrective But Not Tradable
Lloyds has had a very strong decline since it's heights from around 2000 when is was around 600p and never recovered.
It has been in a corrective structure since 2009 which appears to be an ascending triangle implying that the next move would be to continue down. We won't be making a short trade on this one however as the pattern isn't very clear and it also doesn't have a very good risk reward.
The better option will be to sit and wait for it to decline again. Possibly as far as the previous low at 20p and maybe even lower and then look for buy setups.
It has been in a corrective structure since 2009 which appears to be an ascending triangle implying that the next move would be to continue down. We won't be making a short trade on this one however as the pattern isn't very clear and it also doesn't have a very good risk reward.
The better option will be to sit and wait for it to decline again. Possibly as far as the previous low at 20p and maybe even lower and then look for buy setups.
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