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Searching for Breakouts and Flags

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johnnyg said:
Could you put up a couple of patterns it picks up sammy?
Click to expand...

Not sure what you mean here. Do you want me to put the code up I have or examples of some of the stocks it finds?

It generally finds larger scale ascending, descending or symmetrical triangles, but has trouble finding the smaller congestion patterns.
 

Just a few charts of stocks that are showing the patterns you describe if you could sammy.

Cheers
 
Jack Schwager's book Getting Started In Technical Analysis has a lot of useful info on how to identify and trade Continuation Patterns. One of the imprtant things he says which most other authors fail to mention is that about 'counter-to-anticipated' breakouts. For example, if a Bullish Flag (or an Up Flag) breaks down instead of up, it can be a particularly strong signal to go short. Seen a bit of this in the current market.
 
i have one i found somewhere
i'll put it up later
i didn't write it but im not sure who did
 
The market seems to be at a turning point.

Forward and up, or a retreat to the big correction.

Anyone notice any significant breakouts?

gg
 
Garpal Gumnut said:
The market seems to be at a turning point.

Forward and up, or a retreat to the big correction.

Anyone notice any significant breakouts?

gg
Click to expand...

I've been avoiding congestion patterns for a over a year now. Now that the overall market is trending congestion patterns are back in play. I'll post a few later today.

BSL was a missed one for me unfortunately.
 
sammy84 said:
I've been avoiding congestion patterns for a over a year now. Now that the overall market is trending congestion patterns are back in play. I'll post a few later today.

BSL was a missed one for me unfortunately.
Click to expand...

RIO appears to have broken out.

Next Resistance is $75.

I may consider a buy if it retreats to previous resistance at $60.



gg
 
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