Monthly Archives: February 2013
The 3-Bar Reversal Pattern in SPY and Why You Should Not Pay Too Much Attention to The Closing Price Level
Time is money in the financial world and this is one reason the title was descriptive and long so those who know this stuff or are not interested in it can move to the next thing. This post considers the pattern of … Continue reading
The format of the alerts has changed to save time. These alerts are for users of Price Action Lab but demo users of the program can also verify them. Price Action Lab produces the same output each time it encounters the same conditions and thus … Continue reading
Speculators who rely on naive analysis of price action were hit hard yesterday. In the case of the DIA, HFT algorithms got the speculators both sides. In the case of TLT shorts were shaken out. This is how professionals make money … Continue reading
A scan of weekly data of Dow-30 stocks produced a long signal for WMT for 3% profit target and stop-loss. The pattern that generated the signal has been profitable in 19 of the 30 stocks in the index.
Shorting GOOG after a 5-week winning streak has not been a profitable strategy historically due to the strong upward bias of the stock. Although during the last 3 times a similar winning streak occurred there was a short-term correction, in 2009 … Continue reading
The double inside day in the daily GLD chart shows short-term indecision from the part of market participants. This pattern is analyzed here for a significant directional bias.