Category Archives: chart patterns

Chart Pattern Recognition – Lock in 2008 pricing 5 days remaining!

chart patterns, EDS, stock market

Why add Chart Pattern to your TradingExpert Pro? 

 
  • Over 3000 stocks tracked
  • 16 different patterns tracked
  • 6 gauges of each pattern's quality
  • Automatically generate report every night
  • Built in EDS file so you can backtest and add to your own strategy
  • Completed and emerging patterns
​​​​​​​
OR CALL AIQ SALES on 1-800-332-2999 or 775-832-2798
 
 LOCK in 2008 pricing
 

hfwacp7-13-16

 
If you order before July 31, 2016
you'll get the 2008 pricing!
 
 
OR CALL AIQ SALES on 1-800-332-2999 or 775-832-2798

Inverse Head and Shoulders on the market?

chart patterns, indexes, market timing
There was an interesting Inverse Head and Shoulders pattern completed last night on SPY. As SPY is the proxy ETF for the S&P500 index, it caught my attention. A closer look at the Chart attached shows this pattern usually breaks out to the upside.
Analysis of the supplementary information clearly shows that the uniformity of this inverse head and shoulders is good, however the overall quality of the pattern is only average. The biggest issue is the lack of volume and lack of power of the breakout. The volume is particularly low. More volume is needed before this pattern is confirmed, particularly on a strong up day.

Learn more about Chart Pattern Recognition for TradingExpert Pro  http://aiqsystems.com/chartpatterns.htm

Classic Flag Breakouts on CVX, NFG, TOT

chart patterns, stock market, Stock trading

Our Chart pattern Recognition tool had a wealth of gasoline related stocks have breakouts yesterday. The classic flag breakout on good volume could be seen on CVX, NFG and TOT.

Quick reminder on what a flag pattern is.

The flag pattern is considered a continuation pattern after a consolidation period. The flag is a rectangular shape, similar to  the pennant, but the pennant looks more like a triangle.

Usually there’s a strong price movement followed by sideways price movement which is the flag. The pattern is complete when prices breakout in the same direction as the initial price movement. The following move will be in the same direction as the prior sharp move. The move prior to the flag is called the pole.

The flag pattern forms a rectangle with two parallel trendlines that act as support and resistance for the price until the price breaks out. Usually the flag will slope in the opposite direction to the trend.

The buy or sell signal occurs when the price breaks through the support or resistance level, with the trend continuing in the same direction as the pole. The breakthrough should occur on heavier volume.

I’ve put all three charts together and you can clearly see the pole, flag and breakout. As noted above the volume on the breakout on TOT was reasonable. The Quality of the pattern was also considered high.

Incidentally the volume on NFG and CVX was not as significant.

The entire list of stocks that generated completed flags in our nightly report on 5/25/16 is below.

and check out this new video that shows how we automate this reporting every night using the Chart Pattern recognition plug-in for TradingExpert.

Tired of staring at charts time and time again? We have an app for that

chart patterns, stock market, Stock trading
Tired of staring at charts time and time again, not certain what is setting up?
Check out this chart of FITB, Fifth Third Bancorp, How would you have traded this over the last 6 months?
Image
What if you had a tool that shows you the exact pattern that’s setup AND includes the direction the breakout is likely to be? A tool that generates a report every night of chart patterns that have completed and are breaking out. 
​​​​​​​
 Wouldn’t that simplify your trading?
Check out this completed falling wedge pattern from 02/12/16. You would have been alerted to this breakout on 2/12/16, the direction indicator suggested that prices will rise and they did.
Check out this completed falling wedge pattern from 02/12/16. You would have been alerted to this breakout on 2/12/16, the direction indicator suggested that prices will rise and they did.
 
Image
Or this inverse head and shoulders on 3/1/16, the direction indicator suggested prices would rise and they did.
Image
and check out this new video that shows the most recent price pattern we were alerted to on FITB on 5/13/16 AND how we automate this reporting every night.