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Has this thread become more popular than the breakouts thread? Personally I find the reliability on these patterns alot higher than your typical breakout.
Has this thread become more popular than the breakouts thread? Personally I find the reliability on these patterns alot higher than your typical breakout.
Many of the breakouts were pennants, or flags, so hard to tell what's more successful.Has this thread become more popular than the breakouts thread? Personally I find the reliability on these patterns alot higher than your typical breakout.
BTA again anyone? Huge gap is now closed. So far on this thread gap play + flag has a good hit rate.
Anyone get on BTA? Took a little while longer to form but even with a conservative entry you'd be @ 1R already.
Anyone get on BTA? Took a little while longer to form but even with a conservative entry you'd be @ 1R already.
Looked at it
Didn't like it
Reason being? (Nick's post possibly?)
Why post anything here that you can't share your reasoning?Not a post on the ASF
Why post anything here that you can't share your reasoning?
Would help the rest of us.
TECHNICAL: One thing that a computer simulation can't do is help you understand when and why a pattern will fail. In the mid-90's I spent 2-hours per day, 7-days per week for 18-months eyeballing specific chart patterns. Doing it by hand allows you to see things that would not normally stand out. Amongst many things two congestion pattern failures stood out; the first was when we get a parabolic rise followed by a extremely large triangle. These tended to break against the trend rather than with the trend. The other was when we saw a tight consolidation after a parabolic rise but one that consolidated below the absolute highs, which is what KAR is doing. Think of a flag flying at the top of the pole vs. a flag flying at kind of half mast. When they fly at half mast we tend to get a failure. KAR is not flying at the top of its mast here so I'm more inclined to think it will fail and either start lower or morph into another pattern such as a flag. This is not to say that other bullish patterns can't come forth, they may well do. But with the current information I wouldn't be looking for KAR to break higher from this triangle.
Not this one Brad?
What about WAN. Upside down Flag? (insert correct name here):
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