Text books on technical analysis give us wonderful descriptions and examples of traditional chart patterns. When I first starting trading I found it hard to find these types of pattern set ups in real time market situations. They only ever seemed to belong in books. If you are new to trading and feel the same way, then take a look at two real time chart patterns occuring in the Australian market right now. One is a pennant and the other is a double bottom. You can watch these stocks develop over time and compare their progress to what you have read in your trading books. Best of luck.
The Technical Report holds a position in SXY. We have been there since it was 73 cents. We are looking for a blow off top of this current pennant pattern to give us the last leg of the current up move and allow us to exit with a strong profit. The second chart shown is Flight Centre (FLT).
If you are interested in learning more about technical patterns, developing a personal trading style or learning about our personally developed techniques to profit in the market, take a FREE, NO OBLIGATION, 4 WEEK TRIAL of the The Technical Report today. Click HERE!
The Technical Report holds a position in SXY. We have been there since it was 73 cents. We are looking for a blow off top of this current pennant pattern to give us the last leg of the current up move and allow us to exit with a strong profit. The second chart shown is Flight Centre (FLT).
If you are interested in learning more about technical patterns, developing a personal trading style or learning about our personally developed techniques to profit in the market, take a FREE, NO OBLIGATION, 4 WEEK TRIAL of the The Technical Report today. Click HERE!
