It's the Pattern, Stupid!

Stop moved up to 156.75, targeting break above highs for day
upload_2015-11-13_12-51-59.png

Edit - stopped out 156.75.
 
As it happens, Bunds formed a pattern that looks very much like the Dow reversal pattern that learner2007 and NoDoji referred to.
upload_2015-11-13_13-43-41.png
 
This thread is far too good. How long before a troll turns up? :)

Edit: learner2007, omedetou gozaimasu! Any other patterns you like to share? I seem to recall you like to trade flags..
 
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benwm said:
Any other patterns you like to share? I seem to recall you like to trade flags..
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Yes, when I used to trade stocks the flag was my favorite pattern. In fact I once thought of changing my middle name to 'The Flag'!
When my girlfriend offered to knit me a sweater I had her embroider a flag on it.
 

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learner2007 said:
When my girlfriend offered to knit me a sweater I had her embroider a flag on it.
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:) Nice sweater!!

Re flags - do you need to see volume decrease on the flag to trade it? Or does that not really affect the win rate in your own experience? And regarding the exit, are you generally looking for a fixed target, or do you try to use it as a low risk entry to catch a larger move? Or maybe you use price action to determine your exit?
 
benwm said:
:) Nice sweater!!

Re flags - do you need to see volume decrease on the flag to trade it? Or does that not really affect the win rate in your own experience? And regarding the exit, are you generally looking for a fixed target, or do you try to use it as a low risk entry to catch a larger move? Or maybe you use price action to determine your exit?
More...

ZZZZ...ZZZ....zzz.......zz
 
Here's another topping corkscrew in bunds, potential sell if rally fizzles out. Late in the day in Europe so done trading for the day.
upload_2015-11-13_16-15-17.png
 
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