It was nice to have a descending triangle price setup. Short position was taken.
Position was established at 288 and closed at 286.1 as trailing stop was triggered.
Gain 1.9.
Gain 1.9.
Re:Pattern Trading : Short SIMSCI 25-May-2006
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Seems this triangle is not standard and too small. The double bottom in the same chart seems more established.
Seems this triangle is not standard and too small. The double bottom in the same chart seems more established.
Correct, my pattern trading is not the conventional chart patterns that showed in the book. These trades are established based on my experience.
The pattern was developed real time, i.e I did not know what was going to happen at the right side of chart. base on the formation, I made my trading decsision.
Correct, my pattern trading is not the conventional chart patterns that showed in the book. These trades are established based on my experience.
The pattern was developed real time, i.e I did not know what was going to happen at the right side of chart. base on the formation, I made my trading decsision.