Strategy Based On Chart Pattern

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fatdog1
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Postby fatdog1 » Mon Jun 12, 2006 12:48 am

One more try.
I shrunk down the size of the chart.
It worked this time.

GBPUSD has entered a stage 4 downtrend per Stan Weinstein in his excellent book "Secrets for Profiting in Bull or Bear Markets.

Here is what a well known newsletter writer named Mike Swanson has to say about Mr. Weinstein from his website:

He addresses the 4 stages of the market part from the book which I believe is a must to understand especially these days.

http://wallstreetwindow.com/weinstein.h ... SAodajansQ

I would check out the book from your local library if you get a chance.

FD1
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GBPUSD DAILY CHART 6-11-06.jpg
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michal.kreslik
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Postby michal.kreslik » Mon Jun 12, 2006 1:08 am

fd,

I have now disabled the "Maximum Image Dimensions" check until I find out what' the problem.

You should be able to post images of any size freely. There will be a thumbnail generated automatically for every new image.

Check it out.

Michal

fatdog1
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Postby fatdog1 » Wed Jun 21, 2006 7:18 am

I noticed that there is an article in this months Active Trader magazine that calls the upstair pattern a flag pattern.
I guess that is the closest description for it.
The guy who wrote the article says that a breakout from the
flag pattern is successful 85% of the time.

I posted a GBPUSD trade on the randomness thread yesterday.

The GBPUSD trade from yesterday hit the target of 1.8470 and now
it has a bear flag and a bull flag within 10 pips of each other on the 10 minute chart.

GBPUSD will go back and forth between the two flags until either the
buyers or the sellers are absorbed.
Then it will move vertical again, to the next area of buyers or sellers.

The Nasdaq just completed a bull flag breakout.
I will post a screen shot of the 60 minute chart showing it.


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Postby fatdog1 » Wed Jun 21, 2006 7:22 am

Here is the Nasdaq chart.


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Postby fatdog1 » Wed Jun 21, 2006 7:41 am

Here is a 60 minute mini Dow showing a bull flag forming.
In the article about flags, the author writes that he screens for
the flag pole by looking for stocks that have moved up at least 90% before forming the flag.

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Postby fatdog1 » Wed Jun 21, 2006 7:44 am

Here is the pullback to the Nasdaq bull flag on a 30 minute chart.
Too bad it is happening now instead of when the market is open.


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Postby fatdog1 » Wed Jun 21, 2006 9:08 am

Here are the results from the battle between the bull and bear flags on the GBPUSD. This new bear flag area will be a short the first time back.


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Postby fatdog1 » Wed Jun 21, 2006 9:29 am

Here are the results from the pullback in the Nasdaq.
There is still the bear flag area on the 30 minute chart to get past.



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Postby fatdog1 » Wed Jun 21, 2006 9:42 am

This is what the pullback on the GBPUSD looks like as a bar chart.
You can't really see the pattern like you can with candles:


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Postby fatdog1 » Wed Jun 21, 2006 9:44 am

You can see the pattern better with candles, but the bar chart is a
better screen shot.
I will try this on my laptop next time:

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