Formations and Pennants

Discussion in 'Technical Analysis' started by tradingbug, Sep 10, 2007.

  1. It is my belief that pennants and formations create very good opportunities to trade stocks. Specifically, I am looking for a way to scan for stocks that are entering into a pennant/flag formation(Congestion ,convergence, and centering).

    Ideally, I want to trade high volatile stocks that have entered into a period of low volatility showing some sort of pennant. Does anyone know a great way to scan for this type of thing. Math, indicators, or maybe just closing prices that are near each other.

    any feedback would be appreciated.