PATTERNS -- So These REALLY Work???

whats most amazing is that both work!!!!!!!!!!!

 

inandlong lets keep following say Forest Oil. Let's see one of those setups unfold on a Daily. And yes, noting how many outside days NR7 presents is a good study, I think you'll be surprised

 

Thanks, inandlong, I had a hunch that's where you might be coming from -- the low hisvol environment, that is. When those ratios (6/100, or 7/90, whatever) fall below .6 things are getting pretty quiet!! It's a good time for delta neutral strategies and stuff as I recall -- but it’s been a while since I looked into it.

“I am looking at scanning for the last two days to be inside days. You see this pattern all the time, usually historically, and you see those neat little 3 bar triangles then boom a nice break for the day.”

Right. The double inside day. I’ve seen it under the name of the “Shark Pattern.” But I never thought of requiring the “Shark” to set up in a low hisvol environment. Hmmm . . . that might increase the % winners to some degree, since you were talking about that.

“I like the idea of requiring the inside day to be a smaller percentage of the ATR, or at least limiting the size of the inside day I am will to trade off of.”

Strongly agree: an ATR contraction under the right circumstances can be a wonderful thing.

Thank you again for the generous response. And if you do track the set ups and the occurrence of outside days for the next two weeks, it would be terrific if you’d share your observations, even in very general terms.

Here’s to a great weekend!

 

You bet guys.

I'm scanning for today's NR7/ID candidates now. I'll check those against the volatility filter and post a bunch of the symbols. I'll also post some of the 2 inside day symbols. As you might imagine, many of those will qualify as NR4/ID's and perhaps some 7's too.

Btw, I will start a new thread on this in the Trading Forum. That way we can be assured the thread won't become polluted, and we can let this thread stay on as a more generalized one. I'll copy our recent posts to that thread, and we can go from there.

Thanks for your help and input, I really appreciate it.

 

Question would be can there be a chart pattern everyone can agree on which everyone who views the chart without any bias.

Can there be chart condition where all traders say, "This is Head-and-Shoulders"

Answer is what seems like it for each individual.

 

This is an excellent observation, and the basis for my premise that any method can be sold without fear of dilution.

 

Are there any service/newsletters that scans for butterfly, Gartley, 3 drive patterns... (daily or 60 min. bars, US-stocks) ?

 

Tyren,

I don't know of any.

good luck,
Al C.

 

Here is a follow up chart for the BBI chart I posted earlier this month.


good trading,
Al C.

 

Here is a follow up chart for the FST chart I posted earlier this month.


good trading,
Al C.