This flag was almost too long for the pole, but price has finally broken upper trendline of flag. I should have changed the top trendline to green verses red as it is can now function as support.
Many place a stop below the bottom trendline of flag, keeping in mind that Mr. Market knows this and he is known to go stop hunting frequently. Another option is the last pivot low. Beneath a pocket pivot can also make a good stop.
TXN has made a few trips over the upper Bollinger band, but was rather quickly pulled back inside the bands.
The moving averages are all where they are supposed to be and sloping upward. The 9 DMA has crossed up and through the 20 DMA. The 20 DMA is the default moving average for bollinger bands but this chart is set on an 80 DMA.
There was a bearish divergence on RSI but that was a while ago and price appears to have corrected since then. There are also a few bearish rising wedges but price is currently not in one and has broken bottom trendlines of each so i did not draw them.
No recommendation.
3 inside out/down and 3 inside up/down are common candlestick patterns and I have noted they have a short lived effect on price. 3 outside down & up begins with an engulfing candle (the 2nd body engulfs the first body and can be bullish or bearish depending on what color the candle is that gets swallowed by the 2nd candle. Engulfing candles are also common. 3 Inside up & down begin with a harami and i remember the difference between these 2 candle patterns by noting a harami is an inside candle, ie it fits inside the body of the preceding candle. An engulfing pattern is an outside pattern as the preceding candle fits inside the 2nd engulfing candle. Some candle patterns and even some lone candles have a stronger effect on price than others. I have noted that if you get several bearish candles or candle patterns fairly close together, then they can add up to make a stronger effect on price.
If you are not interested in self discovery, the markets can be an expensive place to hang out (o:
Many place a stop below the bottom trendline of flag, keeping in mind that Mr. Market knows this and he is known to go stop hunting frequently. Another option is the last pivot low. Beneath a pocket pivot can also make a good stop.
TXN has made a few trips over the upper Bollinger band, but was rather quickly pulled back inside the bands.
The moving averages are all where they are supposed to be and sloping upward. The 9 DMA has crossed up and through the 20 DMA. The 20 DMA is the default moving average for bollinger bands but this chart is set on an 80 DMA.
There was a bearish divergence on RSI but that was a while ago and price appears to have corrected since then. There are also a few bearish rising wedges but price is currently not in one and has broken bottom trendlines of each so i did not draw them.
No recommendation.
3 inside out/down and 3 inside up/down are common candlestick patterns and I have noted they have a short lived effect on price. 3 outside down & up begins with an engulfing candle (the 2nd body engulfs the first body and can be bullish or bearish depending on what color the candle is that gets swallowed by the 2nd candle. Engulfing candles are also common. 3 Inside up & down begin with a harami and i remember the difference between these 2 candle patterns by noting a harami is an inside candle, ie it fits inside the body of the preceding candle. An engulfing pattern is an outside pattern as the preceding candle fits inside the 2nd engulfing candle. Some candle patterns and even some lone candles have a stronger effect on price than others. I have noted that if you get several bearish candles or candle patterns fairly close together, then they can add up to make a stronger effect on price.
If you are not interested in self discovery, the markets can be an expensive place to hang out (o: