Thanks for the input. Am I correct that the current pattern is a double top, and for the bull trap to occur you would need a reversal back down and then a reversal back up and triple top breakout?
agreed with you robert.rivalland"s site saying that a triple-top should be the signal.the shakeout pattern is almost the same,but from a double-top.either way,it is a warning,uneless there is confirmation my opinion only anyway,happy independence day to you and all the other readers of this thread non farm payrolls has sent the nas 100 into a constriction chart enclosed
the upper chart is close data.the triangle.the lower is hilo data calculation.both have the same box size and also both are 3 box reversal.each configuration gives you more information for good analysis hope this helps
All I have been looking for daily numerical totals of buy and sell pnf signals with not too much success. Looks like stockcharts does not have them, or at least I cant find them. Does anybody here know where I might be able to get pnf buy signals totals? I want to try comparing daily trends and compare it to mkt performance. thx
try ted burge website the tedlines.com it is on public charts list on stockcharts it is great stuff for s/r levels also
tedlines. i think he looks at s/r on weekly candles.a meaningful s/r spot which gave a good move after it was hit.he then draws horizontal lines .i think also he does the same with daily candles.he then matches both of them up with atr p/f chart he also uses bullish percent for all indexes for breadth there are a couple of his videos posted at the end of the point and figure thread on livecharts.co.uk.the message board which is free i think thats how he looks at it.seems very straight forward live intraday p/f charts can be had from mrswing.com for all us stocks and indices.if you load the chart.500 columns,atr period.15 min and the 60 min data work well.all are 3 box reversal and are free.just line them up with the free eod charts on stockcharts