I probably havent been watching breakout patterns for as long as
you guys, but have you ever noticed that when there are TOO many
breakouts, they don't do well? The 2 months of narrow
consolidation has created alot of these short term bases.
It's not hard to find a ascending triangle pattern right now.
One with good volume patterns is a bit harder tho.
I would imagine that supply/demand even works for the number of
breakout stocks out there.
I just looked over the my currency ETF's and the brazilian one
is the only one that also has a breakout formation pattern.
And quite a few of them also have decent patterns. I think if
the currency breaks out, and the chart of the stocks, you might get
a stronger move. just a thought as I look over my charts
tonight.
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too many breakout patterns?
Posted by riskmanagerjeff on 5th of Jan 2010 at 12:00 am
I probably havent been watching breakout patterns for as long as you guys, but have you ever noticed that when there are TOO many breakouts, they don't do well? The 2 months of narrow consolidation has created alot of these short term bases. It's not hard to find a ascending triangle pattern right now. One with good volume patterns is a bit harder tho.
I would imagine that supply/demand even works for the number of breakout stocks out there.
RMJ
I agree. Many, many small
Posted by keithbob on 5th of Jan 2010 at 09:14 am
I agree. Many, many small caps are are nearing their breakpoints. I'm excited but its also making me nervous.
Yes I see that all
Posted by matt on 5th of Jan 2010 at 12:04 am
Yes I see that all the time, that's something to take note of, and right now there are a ton of them
I just looked over the
Posted by riskmanagerjeff on 5th of Jan 2010 at 12:38 am
I just looked over the my currency ETF's and the brazilian one is the only one that also has a breakout formation pattern. And quite a few of them also have decent patterns. I think if the currency breaks out, and the chart of the stocks, you might get a stronger move. just a thought as I look over my charts tonight.