Candle Stick Pattern Expert needed

[Overnight]

Actually it's called a falling pennant. Corrected it in my edits. You missed my edits again. Jumpy old man.

OMG. Falling pennant, decreasing wedge...How many other terms can we come up with a pattern break incoming. Heheh!

Well, I just realized this thread is in the TA section and I so hate TA. So I shall bail on the thread. I have to remember to click the new posts thingy up top, not these bits. :-(

 

[JSOP]

Well yes, the breakout failed obviously. That's actually the point of my question. There was a big price spike on big volume, followed by a big price fall on big volume. Why did if fail the way it did? Is there a specific candle stick pattern, that I don't know yet? It remotely looks like a shooting star pattern, but not quite. Is there a candle stick pattern that fits this chart?

NO the breakout hasn't happened yet. This is the last time that I am posting this. The PA didn't fall below the border of the pennant. It dipped below the lower border towards the "tip" of the pennant, yes but it still closed inside of the pennant so that does not count as a fail.

I now see where you are confused. You think any time the price dropped below the border of the pennant as a fail, no, the price has to close below the border of the pennant to be considered as a fail, at least to me. That was just a dip. Your stop-loss is too tight.

Since the price still closed inside of the pennant, the breakout hasn't happened yet. The price has to close above the top border of the pennant to be considered a breakout. And then the top border of the pennant should serve as a support then on in if that was a legit breakout. Be patient!!!

 

[JSOP]

OMG. Falling pennant, decreasing wedge...How many other terms can we come up with a pattern break incoming. Heheh!

No just two, bullish pennant and falling pennant. It's a pennant because it has a flagpole on the side.

 

[Overnight]

No just two, bullish pennant and falling pennant. It's a pennant because it has a flagpole on the side.

The pole is the PAST. We need the FUTURE. Oy!

I think that is why I don't engage with you. You are a stock whore or something.

The Pole means NOTHING.

Come on over the the futures, the water is warm. Mmmm.

 

[JSOP]

The pole is the PAST. We need the FUTURE. Oy!

I think that is why I don't engage with you. You are a stock whore or something.

The Pole means NOTHING.

Come on over the the futures, the water is warm. Mmmm.

It's a flagpole, not a pole. Stop watching your stock porn. LOL

 

[maxinger]

This is how to draw.
as mentioned earlier, there is no bullish pennant.
and as mentioned earlier, this is absolutely NO breakout.


why the rectangle is sooo wide / tall ?
because it has been known to be very wide / tall.

the lower horizontal rectangle line / support is not definite.
similarly
the upper horizontal rectangle line / resistance is not definite.

Then how to trade such stocks?
see my earlier posting.

 

[murray t turtle]

I recently traded two stocks that showed nice patterns, but were behaving really strange shortly after their breakouts.

The first one is BSY:
View attachment 266874

As you can see it formed a Bullish Pennant. Then it broke out on huge volume, indicating institutions are buying big time. I bought the stock and shortly afterwards I was already 4% in profit. Perfect. However during the day a big sell of set in and the stock tanked. It even tested the lower border of the pennant so my stop loss got triggered.

The second stock was similar. ZIM developed a nice cup pattern:

View attachment 266888

So either a handle would form or the stock would breakout right away resulting in a cup without handle. As you can see, on the 25th the stock broke out strongly triggering my buy stop. But just like BSY over the day the huge breakout was sold off again. For the time being it looks like the handle is formed after all.

Still I'm not sure how to make sense of it all. I know situations where pivot points are tested and sold off again. Usually it happens with small price advances and low volume, but not with strong price moves on big volume. To me it seems, the same institutions that buying in were selling out on the same day again.

Does anyone know a candle stick pattern that matches here?

%%
ZIM has a topping tail\named because we can see people selling it\ taking profits + losses '[looks like a ''T'' except invert the ''T''
WITH 343% profit, ZIM= superstong trend/ but still some are taking profits............................................................................... Some do daytrade it/its much, weaker than ZIM/ 7 times weaker. Congrats on 4% profit

 

[oraclewizard77]

I recently traded two stocks that showed nice patterns, but were behaving really strange shortly after their breakouts.

The first one is BSY:
View attachment 266874

As you can see it formed a Bullish Pennant. Then it broke out on huge volume, indicating institutions are buying big time. I bought the stock and shortly afterwards I was already 4% in profit. Perfect. However during the day a big sell of set in and the stock tanked. It even tested the lower border of the pennant so my stop loss got triggered.

The second stock was similar. ZIM developed a nice cup pattern:

View attachment 266888

So either a handle would form or the stock would breakout right away resulting in a cup without handle. As you can see, on the 25th the stock broke out strongly triggering my buy stop. But just like BSY over the day the huge breakout was sold off again. For the time being it looks like the handle is formed after all.

Still I'm not sure how to make sense of it all. I know situations where pivot points are tested and sold off again. Usually it happens with small price advances and low volume, but not with strong price moves on big volume. To me it seems, the same institutions that buying in were selling out on the same day again.

Does anyone know a candle stick pattern that matches here?

It's sad you don't know what a silver pin is. Guess the good stuff is just hidden like this you tube video.

 

[iPittyTheFool]

It's sad you don't know what a silver pin is. Guess the good stuff is just hidden like this you tube video.

It's sad that instead of helping people you just want to insult and bully them.

Yes, I'm a beginner. I've read a couple of books. I'm already profitable, but I still make mistakes and there's still a lot I don't know. That's the reason I posted this questsion. I want to learn.

But instead of being helpful most people here seem to have a sick desire to make fun of others and ridicule them.

 

[maxinger]

It's sad that instead of helping people you just want to insult and bully them.

Yes, I'm a beginner. I've read a couple of books. I'm already profitable, but I still make mistakes and there's still a lot I don't know. That's the reason I posted this questsion. I want to learn.

But instead of being helpful most people here seem to have a sick desire to make fun of others and ridicule them.

I am not sure if you are interested to learn.

I have already spent my time responding to your queries.