5 point pattern trading

Discussion in 'Technical Analysis' started by phillyflipper, Aug 24, 2007.

  1. i am going to share stock trading ideas based on 5 point patterns that incorporate Fibonacci retracemrnt levels. I am doing this to help my own understanding and to be accountable. I am not selling anything. Let's see if there is anything to these patterns. There are other patterns on the thread "Boston Scientific ready to rock"

    HOTT hot topic I know nothing about the stock I just look at the pattern Please note this is a weekly chart. I will be showing 60 minute, Daily, weekly, and monthly time frames
     
  2. I am sorry, HOTT is a bullish pattern
     
  3. abbi abraxis bioscience....bullish completion at D stops should be used below pt D. Understand that a break below D is trouble

    this is a weekly chart
     
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  4. i am showing this chart to show what can happen even though we go 1 point below Bullish point D. This could get you in trouble
    because of the retest of point D. It is surprising how that area holds up. no way to know How any instrument will trade after it hits point D but we know we need to buy as close to point D as possible
     
  5. ess1096

    ess1096

    I hope you can take a joke. I made an adjustment to your chart to show you how it looks to me. :D
     
  6. here is a monthly chart of Cooper Tire showing a bullish pattern that kicked off a nice run. This is why I scour the charts
     
  7. Big AAPL

    Big AAPL

    ess

    That was hilarious. Still laughing.

    Philly,

    Interesting charts and analysis. Keep 'em coming, I look forward to new ideas and fresh perspective.
     
  8. On this Abbott weekly chart, the pattern is bearish at point
    D. It sold off just a little then broke to the upside. this is a failed
    short pattern but the fact it failed reveals the strength of Abbott and we see now point D is acting as support
     
  9. One

    One

    phillyflipper,

    Thanks for sharing. Could you take a moment to note what the specific pattern is that you are looking for? Thanks again.
     
  10. ess1096

    ess1096

    #10     Aug 24, 2007