InvestorsHub Logo
Post# of 47295
Next 10
Followers 1651
Posts 18274
Boards Moderated 1
Alias Born 11/10/2004

Re: floydianslips post# 29128

Monday, 03/05/2012 11:01:28 PM

Monday, March 05, 2012 11:01:28 PM

Post# of 47295
Your doing very well at seeing chart patterns.

Some comments to help. Symmetrical triangles don't automatically project a continuation up, unless it has a prior up trend in place. With down trend it projects down and with no prior trend it's 50/50 which way to expect.

Rising wedge calls for decling in price action. Look for falling wedges for increase in price on breakout.

And for flags. Once the flag top down trend line is broken, one can enter for a 1st small position. With larger position on top resistance break. So your 2 are actually in play now.

This 2 step entry should be used for any chart pattern which needs a down trend line cross for original play break. Including double bottoms, falling wedge, pennat, flag, cup & handle, ETC. The first trend reversal show mindset change, but more important, the top resistance break show conformation most agree. Some times these can't move past resistance and retrace down past the start. You only want to hold a small position because of this possibility. But when everyone agrees at resistance cross, go for it !

Welcome to my mind!

Success to all
IHUB http://investorshub.com/boards/board.asp?board_id=3972
http://youtube.com/lowtrade
Incumbents: Fire them all!!

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.