Tag Archives: price patterns

SPY Pattern Indicates High Probability for a Continuation of the Rally

Posted on July 29, 2012 by Michael Harris

As the title indicates, in this blog we are dealing with probabilities and not with any indubitable rules.  In the markets, there are no such rules, at least not any that I know of, and only those who can properly calculate probabilities within … Continue reading →

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Price Action Lab Alert – QQQ Short Pattern Profit Target Hit

Posted on April 4, 2012 by Michael Harris

The target of the QQQ pattern in yesterday’s alert was hit today.

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Price Action Lab Alert for Tuesday, April 3, 2012

Posted on April 3, 2012 by Michael Harris

This alert is about a price pattern in QQQ.

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The S pattern in QQQ

Posted on February 12, 2012 by Michael Harris

The “crutch” pattern in SPY identified after the the close of January 9, 2012 is just one of the 720 exact variations of price patterns formed by 6 consecutive closes. This pattern had a bullish bias and it hit its profit target objective of 2% … Continue reading →

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Stock Market: A Short-term Reversal to the Upside is Highly Probable

Posted on November 22, 2011 by Michael Harris

As of the close of Monday, November 21, 2011, price action patterns and directional probability calculations point to a reversal to the upside. It is not clear at this point whether a bottom is being formed at these levels.

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Three Lower-Highs With an Inside Day in SPY and the Subjectivity of Chart Patterns

Posted on November 11, 2011 by Michael Harris

As of the close of Thursday, November 10, 2011, a pattern of 3 lower-highs  with an inside day was formed in SPY. Although some technical analysts view this kind of pattern as a bearish signal, analysis shows that the historical edge  towards … Continue reading →

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SPY Closed Again Above Its 200-Day MA But There Are Signs of a Pending Correction

Posted on November 9, 2011 by Michael Harris

As of the close of Tuesday, November 8, 2011, SPY managed to stay above its 200-day simple moving average after testing this resistance level but  there are a few signs of a pending short-term correction. One such sign is due to a price … Continue reading →

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A High Probability Setup in SPY

Posted on November 4, 2011 by Michael Harris

As of the close of Thursday, November 3, 2011, there is a 6-bar pattern formed on the daily chart of SPY that has historically a high win rate for profit target and stop-loss equal to 2%. This pattern has also been profitable historically in … Continue reading →

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More on Short-term Patterns With High Reward-to-Risk Ratio

Posted on October 23, 2011 by Michael Harris

Last week I briefly responded to a question that has come up several times recently about the difficulty in finding price patterns with high reward-to-risk ratio. I showed with an example using QQQ daily data that such patterns do exit. Here, I … Continue reading →

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Short-term Patterns With High Reward-to-Risk Ratio

Posted on October 18, 2011 by Michael Harris

A question that has come up a few times recently is about the dififculty in finding high reward-to-risk setups in various markets like equities, futures and forex or even whether such setups exist at all. I think it is an important question … Continue reading →

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