BOL BAUSCH AND LOMB "Crab Pattern" This pattern is bullish but very scary to go long with that steep decline. the best trades are the ones that look like you are crazy for taking them. Things look easy in hindsight but you need to know in advance that these patterns work (60-70%) You don't have to buy the bottom as most will miss it, but the pattern tells you you can look for a long entry as close as you can get to point D
HAD WE DISCOVERED THIS Bullish "CRAB" in the biotech index $btk back on March 6,2007 we could have been better positioned in Biotech stocks for the ensuing rally.
I would take a stab going long on that AMGN chart. You have a trendline break to the upside happening, although on low volume.
Thank you Condor. By combining two methodologies we now have a more compelling reason to consider Amgn on monday. THAT IS WHAT I AM TALKING ABOUT.
Not really, My trendline break scan would have found that without having to draw butterflies, and would have saved aboout 4 days of "dead money". Check the attached marked up chart
Corning GLW now is not the time to go long. May be time to go short on a move back to 25. Chime in Condor. I believe this qualifies with your trend line break
OK. I can deal with that. Maybe the move is over from the pattern trigger or maybe we retest 27.00 and then fail. Lot of possibilities. For the hard line pattern trader if they caught this short near the 27.00 area they would consider this a short trade until it breaks 29.00. i know you do not agree with the methodology but I am just pointing out the trade