The idea here is that you only want to buy the stock when it actually starts to rise and when it arrives above the breakout level. It is very well possible that the stock never reaches this level. It is also possible that the stock reaches this level next week. Both cases make sure you only enter the stock when the actual breakout happens. If it doesn't happen you have prevented a loss by never entering the stock.
If you are a pull back trader or a bottom fisher, then these patterns may not be ideal for you. I love to bottom fish and buy pull backs as well. It is just a different ball game is all (o:
C&H patterns are only valid at long entry level.
Sometimes I just know (kidding myself, we never really know) and I will enter before break out or long entry level is reached but I am not recommending that
BRK.B is in possible C&H formation . It is not completely formed yet. It does seem to have formed a handle low. S can be found here. If it pulls back too far below HL, then I was wrong and back to the drawing board
Often algorhythms kick in at a certain level. So you may slowly climb up with an early entry but it is usually not when the computer trading etc kicks in so if you do this, be patient.
The S triangle is past long entry level.
Possible Long term Targets 303.9 to 323
It is not always about being right. Often it is about what you do when you are right
Not a recommendation
If you are a pull back trader or a bottom fisher, then these patterns may not be ideal for you. I love to bottom fish and buy pull backs as well. It is just a different ball game is all (o:
C&H patterns are only valid at long entry level.
Sometimes I just know (kidding myself, we never really know) and I will enter before break out or long entry level is reached but I am not recommending that
BRK.B is in possible C&H formation . It is not completely formed yet. It does seem to have formed a handle low. S can be found here. If it pulls back too far below HL, then I was wrong and back to the drawing board
Often algorhythms kick in at a certain level. So you may slowly climb up with an early entry but it is usually not when the computer trading etc kicks in so if you do this, be patient.
The S triangle is past long entry level.
Possible Long term Targets 303.9 to 323
It is not always about being right. Often it is about what you do when you are right
Not a recommendation