Intraday: Higher Timeframe/Trend

Discussion in 'Technical Analysis' started by tradersaavy, Oct 9, 2003.

  1. Here's the 5m chart.

    The pattern that set up is what Trading From Mainstreet calls a Phoenix.

    No. I am not affiliated with them at all. I just learned a lot from them. Their web pages explain a Phoenix if you're interested.
     
    #11     Oct 13, 2003
  2. u were trying to trade the chop on 5min anyway
     
    #12     Oct 13, 2003

  3. Whoops. The pattern is called an Avalanche, not a Phoenix.
    They are the same pattern, but one for longs and one for shorts.

    This explains it:
    http://www.tradingfrommainstreet.com/techanalysis.html#4
     
    #13     Oct 14, 2003