Perfect triangle breakouts

Discussion in 'Technical Analysis' started by Pekelo, Dec 12, 2005.

  1. Pekelo


    OK, so TA doesn't work. So how come we are having the 4th triangle breakouts in less than 2 weeks? I already posted the other 3 charts in the thread The basic flaws in TA, here is the 4th chart. (currently at 25 points gains from breakout)

    Each breakouts gave at least 20 points gains for YM traders....
  2. Unfortunately, your broker doesn't let you trade after-the-fact. Not even 5 minutes! Now if you could use those bs "triangles" to make a profit in *real-time* with any consistency, then great, but after-the-fact wouda, shoulda, coulda is well, just plain 'ol BS.
  3. Pekelo


    And you know for sure I haven't been short since the breakout? :)
  4. I really don't care and it doesn't make any difference. Now, if you came up with some meaningful statistics of how to interpret and measure the success of any pattern beforehand or realtime, then most here would be all ears. Monday morning quarterbacking doesn't count in identifying patterns.

  5. I broker allows these crazy new order types called "Stops". You can place an order to Buy/Sell or Short when a price level gets breached.
    If our chart reading friend had bracketed his triangle with Buy or Short stops he would have gotten some off no problems. :D

    sorry for the sarcasm...I just couldnt help it. :)
  6. Pekelo


    Then conversation is over... :)

    Here is the better chart, on the previous one the supportline slipped.
    Currently down 35 points from the breakout...
  7. Any time it happens
  8. Pekelo


  9. Pekelo, you are one persistant chap, I will give you that:D :D
  10. Pekelo


    Oh, I forgot to post this yesterday. Nice symmetrical triangle breakout to the upside, because the underlying trend was bullish. And yes, I saw it and played it in advance. Was good for 45 points. Let's keep counting, this was the 5th in a row. We must be so lucky with flipping the coin.... :)
    #10     Dec 15, 2005