Good charts al c. . I liked the BBI-chart. I know tradingtutor.com sends out one daily or weekly bar chart once a week. I think PRU had a bearish butterfly in weekly bars. Any comments on PRU ?
Tyren, Here is a PRU chart - it's a nice patterns with confluence of price AND time. good luck, Al C.
Yes, it is at 1.272 XA-extension, and I think at 1.618 AB-extension. CD is a bit longer than AB in price, I don't know how much that mean (?). It was a "spike" at C.
http://tradingtutor.com/tow/PRU10-9-03.png Stockcharts : http://stockcharts.com/def/servlet/SC.web?c=pru,uu[w,a]waclyyay[d20010930,20061010][pg20!f][vc60][J12836186,Y]&pref=G
Trade of the week from Tradingtutor.com : http://tradingtutor.com/tow/UTX10-23-03.png (UTX - weekly). Is this a ideal bearish butterfly ? Don't look like that to me... (The B point... ok it is 0.633 retrace of XA) CD = 1.80 x AB. CD = 2.40 x BC.
I'm not trying to scan patterns I'm trying to predict them BEFORE they even appear (scanning would then be like a finger in the nose too easy to interest me but I will do it of course) . Nevertheless I am only at the beginning of the work . But frankly I prefer to trade directly my model than the pattern at least on intraday level since it is much more precise than pattern (for why should I wait the neckline since my model can calculate the top ). Nevertheless knowing that a pattern is forming is useful as shortcut thinking. http://tinyurl.com/sbfe <IMG SRC=http://www.econometric-wave.com/market/images/2003/october/dji/251003/Head%20and%20Shoulders%20Pattern.gif>
ES, friday. Bullish butterfly in 10 min.(all sessions) : http://www.ttrader.com/mycharts/display.php?p=15942&u=tyren&a=Tyren&id=430 . 1.272-extension. I found this chart(5 min., march 2003) on this topic, almost a copy : http://www.elitetrader.com/vb/attachment.php?s=&postid=220915