Charts

Discussion in 'Technical Analysis' started by ZZZzzzzzzz, Jan 4, 2006.

  1. GG
     
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    #231     Jan 10, 2007
  2. NEM
     
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    #232     Jan 10, 2007
  3. SMH
     
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    #233     Jan 18, 2007
  4. TLT
     
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    #234     Jan 25, 2007
  5. More TLT, 3 years
     
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    #235     Jan 25, 2007
  6. cnms2

    cnms2

  7. RAD


    <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1343815>

    Possible Pennant in an Uptrend

    Pennants

    Pennants are small continuation patterns that represent brief pauses within an already existing trend. They are characterized by converging trendlines and have a definite bullish or bearish bias depending on the overall trend.

    <img src=http://www.leavittbrothers.com/education/chart_patterns/pennbull_clip_image001_0001.gif>

    Bullish pennants typically appear in the middle of large rallies or immediately after a stock has broken out of a basing period.

    Bullish breakouts should be accompanied by a significant increase in volume. Use appropriate stops if this is not seen.

    The price action prior to the pennant formation can be used as a guide in predicting the price movement upon breakout. So, for a bullish pennant in an uptrend to truly possess great potential, it must have been preceded by a significant move (i.e. if the movement into the pattern was quick and full of energy, the rally after the breakout most likely will be quick and full of energy).

    The expected price movement upon breakout is approximately equal to the distance of the move into the pattern.

    http://www.leavittbrothers.com/education/chart_patterns/pennbull.cfm
     
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    #237     Jan 30, 2007
  8. I really enjoy looking over your charts. It refreshes my mind to see other peoples perception of the same market.


    If you don't mind, how long have you been trading? and are you primarily a swing trader?
     
    #238     Jan 30, 2007
  9. PHO
    Weekly Chart
     
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    #239     Jan 30, 2007
  10. #240     Jan 30, 2007