- #416,581
- Mar 31, 2011 5:16pm Mar 31, 2011 5:16pm
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #416,582
- Mar 31, 2011 5:16pm Mar 31, 2011 5:16pm
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Yup. Ascending (bullish) triangle as an example... for those that don't see them, they really get hurt.
As I'm not into the Head and Shoulders pattern since I've seen some really funky ones on this thread and there was a huge discussion way back about one in particular so it put me off them for life, I have more of an eye for these ascending triangles. People seem to see head and shoulders everywhere but tend to forget that the head and shoulders pattern forms at the end of an uptrend and not in the middle of PA.
Bulkowski doesn't really rate ascending triangles though. I'm still in the process of judging their effectiveness.
Nothing worth having is easy.
- #416,583
- Mar 31, 2011 5:17pm Mar 31, 2011 5:17pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #416,584
- Mar 31, 2011 5:19pm Mar 31, 2011 5:19pm
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #416,585
- Mar 31, 2011 5:25pm Mar 31, 2011 5:25pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #416,586
- Mar 31, 2011 5:25pm Mar 31, 2011 5:25pm
- Joined Jul 2009 | Status: Trader | 4,859 Posts
Disclaimer: Check your 1m charts 
- #416,587
- Mar 31, 2011 5:26pm Mar 31, 2011 5:26pm
- Joined Jul 2009 | Status: Trader | 4,859 Posts
Nice thread Reds.... Must do a bit of drinking myself over the weekend in ireland.... Must be a Gaelic thing
seen a few colourful charts in my time ......
anyway, you know where we are, hope to see a few of you there
best regards and team red will cut into peices tomorrow for fun
Disclaimer: Check your 1m charts
- #416,588
- Mar 31, 2011 5:28pm Mar 31, 2011 5:28pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
Funny you should mention that. I was looking at this one last night on 4 hour USDX thinking we'd stay inside it until NFP and then BOOM!...
As always patterns have quality to them, and this is a pretty low quality triangle. The best ones have 3-5 touches of that lower TL leading up to resistance.
I already know if I see one forming, and my position is not in favor of it. You can bet I am closing the position at that point. Chances of a triangle breaking out, especially with momentum behind it are not something that I would bet on.
- #416,589
- Mar 31, 2011 5:28pm Mar 31, 2011 5:28pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Here is the chart where i state my reasons for a long entry I made this morning.
Many traders asked why I made a long, here is the chart.
1. PA opened above DPP
2. We had a W pattern in forming
3. There was a doji which signals a potential reversal.
4. The price closed above 4145, retest of 4147 gave a BPC pattern
5. 10 SMA held the uptrend
6. Slope of the channel and a clear TL below
Many traders asked why I made a long, here is the chart.
1. PA opened above DPP
2. We had a W pattern in forming
3. There was a doji which signals a potential reversal.
4. The price closed above 4145, retest of 4147 gave a BPC pattern
5. 10 SMA held the uptrend
6. Slope of the channel and a clear TL below
- #416,591
- Mar 31, 2011 5:32pm Mar 31, 2011 5:32pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
Nice thread Reds.... Must do a bit of drinking myself over the week in ireland.... Must be a Gaelic thing
someone else mentioned Ireland too recently - no idea where that came from .......... Scotland
- #416,592
- Mar 31, 2011 5:39pm Mar 31, 2011 5:39pm
- Joined Jul 2009 | Status: Trader | 4,859 Posts
I meant i will be doing a bit of drinking 
I'm Irish
I'm Irish Attachment
someone else mentioned Ireland too recently - no idea where that came from .......... Scotland
Disclaimer: Check your 1m charts
- #416,593
- Mar 31, 2011 5:39pm Mar 31, 2011 5:39pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
- #416,594
- Mar 31, 2011 5:41pm Mar 31, 2011 5:41pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
how did you get by with that name for so long? lolllllllllllll
- #416,595
- Mar 31, 2011 5:41pm Mar 31, 2011 5:41pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
red, you don't want to see my charts. they would hurt your eyes. but yeah, i'll stop by. thanks for the invite.
I need some
- #416,596
- Mar 31, 2011 5:42pm Mar 31, 2011 5:42pm
- Joined Jul 2009 | Status: Trader | 4,859 Posts
Disclaimer: Check your 1m charts
- #416,597
- Mar 31, 2011 5:43pm Mar 31, 2011 5:43pm
- Joined Jul 2009 | Status: Trader | 4,859 Posts
Nice trading tarantula... Always have a quick read off your posts first thing daily 
Here is the chart where i state my reasons for a long entry I made this morning.
Many traders asked why I made a long, here is the chart.
1. PA opened above DPP
2. We had a W pattern in forming
3. There was a doji which signals a potential reversal.
4. The price closed above 4145, retest of 4147 gave a BPC pattern
5. 10 SMA held the uptrend
6. Slope of the channel and a clear TL below
Attachment
Disclaimer: Check your 1m charts
- #416,598
- Mar 31, 2011 5:44pm Mar 31, 2011 5:44pm
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #416,599
- Mar 31, 2011 5:46pm Mar 31, 2011 5:46pm
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Nothing worth having is easy.
- #416,600
- Mar 31, 2011 5:46pm Mar 31, 2011 5:46pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts