SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Strictly Buy and Sell Set Ups
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: BishCoop who wrote (7163)1/15/2006 4:33:13 PM
From: chowder  Read Replies (1) of 13449
 
Re: GLW ... >>> does GLW action look like a potential bull flag? <<<

Potentially, yes. If it continues to trade sideways for a number of days.

For now, the pattern is setting up in a break out pattern.

Set up explained via comments on the chart.

stockcharts.com[h,a]daclyiay[d20051215,20060115][pb50!b20][vc60][J67031475,Y]&pref=G

The significance of the pattern is that at the end of day two, the bears had control of price action. After day two, we had a bearish harami pattern and that is a potential bearish reversal pattern. Day three caught the bears by surprise as price gapped up at the open and closed higher.

The entry target should be just above the high of the last 3 bars. The stop should be placed below the low of bar 1.

I prefer this set up when it develops some what closer to the 20 day moving average, but the market is never perfect in the way it shares its trading patterns.

This is where the philosophy of the trade comes into play. Some would ignore the pattern if it breaks out in the next trading session and wait to see if price can come back and test the break out point before entering. A more aggressive trader will jump on the break out and be very disciplined with their stops.

dabum
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News