chart patterns & algo. trader - surinotes.com
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Dec. 11, 2017
Chart Patterns & Algo. TradersuriNotes.com’s
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Chart Patterns & Algorithmic Trader 2017 ALL RIGHTS RESERVED
No part of this document may be reproduced or transmitted without the express written consent ofthe suriNotes.com or Suri Duddella.
This document relies on sources and information reasonably believed to be accurate, but neither theauthor nor publisher guarantees accuracy or completeness.
The examples in this document could be considered hypothetical trades.
The CFTC warns that:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS,SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILARTO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCESBETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTSSUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THELIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY AREGENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION,HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NOHYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OFFINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTANDLOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADINGLOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUALTRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THEMARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADINGPROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OFHYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELYAFFECT ACTUAL TRADING RESULTS.
COPYRIGHT © 2017 – suriNotes.com
Data & Charts are created by TradeStation Software from TradeStation Securities.Published in the United States of America
All the material in this document is provided as Educational Material only.NONE of the chart patterns or chart setups or all other material in thisdocument are trade recommendations. Trading is risky. You are 100%responsible for your own trading.
Trading is risky. You are 100% responsible for your own trading. suriNotes.com orSuri Duddella, specifically disclaims any and all express and impliedwarranties. Your trades may entail substantial loss. Nothing in this documentshould be construed as a recommendation to buy or sell any security or otherinstrument, or a determination that any trade is suitable for you.
Chart Patterns and other material in this document are Auto generated in TradeStationsoftware and we try our best to check for errors and data consistency, but they may stillconsist of data or algorithmic errors.
Disclaimer:
"Failure is not a single, cataclysmic event. You don't failovernight. Instead, failure is a few errors in judgment,repeated every day."
- Anonymous
"Courage. It's not enough to simply have the insight to seesomething apart from the rest of the crowd, you also need tohave the courage to act on it and to stay with it.”
- Bill Lipschutz
Market Quotes
"The gem cannot be polished without friction, nor manperfected without trials.”
- A Chinese Proverb
US Markets
Patterns Gallery
Chart Patterns
Energy & Oil Stocks
Stocks/Futures/Commodities/FX
Earnings Next Week/Charts
Watch Lists
Bullish/Bearish, Relative Strength
Key Supp/Resistance/Pivots Charts
Gap Charts
Weekly Relative Performances
ALGORITHMIC TRADER
Trading Confluence Chart Patterns
Algorithmic Trades
Symbols Universe
Books/Websites/Software
Table of Contents
Chart Links■Major Market Indexes Trends 12■Gold, Silver, Oil and 10 Yr Notes 13■TRAN, VIX, DXY, SPX 14■@QM Inv. H&S Pattern 15■BAC Bull Flag Pattern 19■BBT Symm. Triangle Pattern 20■DPST ABC Bullish Pattern 21■FITB Symm. Triangle Pattern 22■GS Cup & Handle Pattern 23■HSBC Symm. Triangle Pattern 24■JPM Cup & Handle Pattern 25■KBE Inv. HS Pattern 26■KRE ABC Bullish Pattern 27■MS ABC Bullish Pattern 28■XLF ABC Bullish Pattern 29■PNC ABC Bullish Pattern 30■AMD Symmetric Triangle Pattern 33■DAL ABC Bullish Pattern 35■UPS Cup & Handle Pattern 36■MCD ABC Bullish Pattern 37■GS Cup & Handle Pattern 38■AXGN Parabolic Arc Pattern 39■AAL ABC Bullish Pattern 40■OSTK Parabolic Arc Pattern 41■AAL Symmetric Triangle Pattern 42■LULU Rectangle Channel 43■PFE ABC Bullish Pattern 44■ADI ABC Bullish Pattern 45■KLAC Cup & Handle Pattern 46■AMTD Cup & Handle Pattern 47■AAPL ABC Bullish Pattern 48■GILD Bear Flag Pattern 49
■STX ABC Bullish Pattern 50■OIL Symm. Triangle Pattern 51■TSCO ABC Bullish Pattern 52■$BRTI ABC Bullish Pattern 53■@AD AB=CD Bearish Pattern 57■@BP Symmetric Triangle Pattern 58■@CD Head and Shoulders Pattern 59■@CL Cup & Handle Pattern 60■@CL Inv. H&S Pattern 61■@DX ABC Bullish Pattern 62■@HG AB=CD Pattern 63■@JY Inv. H&S Pattern 64■AUDCAD Falling Wedge Pattern 68■CADJPY Cup & Handle Pattern 69■CHFJPY Desc. Triangle 70■EURCAD ABC Bullish Pattern 71■EURGBP Head and Shoulders Pattern 72■GBPAUD ABC Bullish Pattern 73■GBPAUD Cup & Handle Pattern 74■GBPNZD ABC Bullish Pattern 75■USDJPY ABC Bullish Pattern 76■QM Fib. Zone Pivots 80■@ES Gap Chart 84■YM Gap Chart 86■ADBE Parabolic Arc Pattern 90■BLK AB=CD Pattern 91■C ABC Bullish Pattern 92■COST ABC Bullish Pattern 93■MU ABC Bullish Pattern 94■RHT ABC Bullish Pattern 95
Major Indexes
Major Indexes
Major Indexes %Chg YTD
Chart Patterns & Algorithmic Trader (12)
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All four major market indexes (Weekly) charts are showing strong eSix trends.
Major Market Indexes Trends
Chart Patterns & Algorithmic Trader (13)
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Gold started to weaken in its trend as it trades below 200 MA. Silver and Oil are stillway below its 200 MA and Treasury Notes is just above 200 MA.
Gold, Silver, Oil and 10 Yr Notes
Chart Patterns & Algorithmic Trader (14)
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Transportaion Index, VIX, U.S. Dollar Index (Weekly) and eSIX trend indicator.
TRAN, VIX, DXY, SPX
Chart Patterns & Algorithmic Trader (15)
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@QM (D) is forming Cup & Handle Pattern. C&H patterns are valid when pricecloses above breakout level. Entry above breakout level: 59.575, Handle Low:55.825, 23.15% below breakout level. T1: 69.59 to 72.31 T2: 80.15 to 85.82
@QM Inv. H&S Pattern
Bank Stocks
Bank Stocks (YTD%)
Bank Stocks
KBE SPDR S&P Bank ETF
KRE SPDR S&P Regional Bank ETF
Chart Patterns & Algorithmic Trader (19)
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BAC (Daily) is trading in Bull Flag pattern. BAC’s bull flag breakout is above $27.First target range is $28.5 to $29, Second Target range: $31-32.5
BAC Bull Flag Pattern
Chart Patterns & Algorithmic Trader (20)
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BBT is trading in Symmetric Triangle pattern. Symm. Triangle pattern breakout isabove $47.40. Targets: $51-52, $54.86 to $58.
BBT Symm. Triangle Pattern
Chart Patterns & Algorithmic Trader (21)
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$DPST (D) ABC Bullish Pattern Long Entry above 60.16, Stop below 55.97 (-4.19),Target1 Zone: 72.5 to 77.0, Target2 Zone: 89.9 to 99.3
DPST ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (22)
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FITB (Daily) is trading in Symm. Triangle Pattern. Pattern breakout level is above$27.50, Targets: $29-31, $33
FITB Symm. Triangle Pattern
Chart Patterns & Algorithmic Trader (23)
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$GS (W) is trading in Cup & Handle Pattern. Entry above breakout level: 255.15,Handle Low: 234.28, 45.84% below breakout level. T1: 283.3 to 290.9 T2: 313.0 to328.9
GS Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (24)
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HSBC (Daily) is trading in Symm. Triangle Pattern.
HSBC Symm. Triangle Pattern
Chart Patterns & Algorithmic Trader (25)
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Reviewed in CPAT 09/25/17
$JPM (D) is trading in Cup & Handle Pattern. Entry above breakout level: 93.98,Handle Low: 88.03, 48.22% below breakout level. T1: 101.6 to 103.7 T2: 109.7 to114.0
JPM Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (26)
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$KBE (D) is trading in Inv. H&S Pattern. Long entry above 44.75, Stop below 44.01(0.74), Target1 Zone: 47.9 to 48.8, Target2 Zone: 51.3 to 53.1
KBE Inv. HS Pattern
Chart Patterns & Algorithmic Trader (27)
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KRE ABC Bullish Pattern
$KRE (D) ABC Bullish Pattern Long Entry above 55.20, Stop below 53.74 (-1.46),Target1 Zone: 59.1 to 60.6, Target2 Zone: 64.8 to 67.8
Chart Patterns & Algorithmic Trader (28)
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Reviewed in CPAT 10/09/17
$MS (D) ABC Bullish Pattern Long Entry above 48.56, Stop below 47.41 (-1.15),Target1 Zone: 52.2 to 53.5, Target2 Zone: 57.2 to 59.9
MS ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (29)
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$WFC (D) ABC Bullish Pattern Long Entry above 54.50, Stop below 53.20 (-1.30),Target1 Zone: 57.9 to 59.2, Target2 Zone: 62.8 to 65.5
XLF ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (30)
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PNC ABC Bullish Pattern
$PNC (D) ABC Bullish Pattern Long Entry above 133.78, Stop below 130.45 (-3.33),Target1 Zone: 142.5 to 145.8, Target2 Zone: 155.2 to 162.0
Chart PatternsStocks/Options/Indexes
Chart Patterns & Algorithmic Trader (33)
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AMD (Daily) is trading in Symmetric Triangle pattern. Breakdown level: $12.95. Firsttarget zone: $10.65 to $11.14, $10, $8-9.25.
AMD Symmetric Triangle Pattern
Patterns Gallery
Chart Patterns & Algorithmic Trader (35)
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DAL (D) ABC Bullish Pattern Long Entry above 49.38, Stop below 48.32 (-1.06),Target1 Zone: 54.2 to 55.8, Target2 Zone: 60.4 to 63.7
DAL ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (36)
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Reviewed in CPAT 10/09/17
$UPS (D) is trading in Cup & Handle Pattern. Entry above breakout level: 120.44,Handle Low: 111.25, 50.16% below breakout level. T1: 131.8 to 134.8 T2: 143.7 to150.1
UPS Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (37)
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$MCD (W) ABC Bullish Pattern Long Entry above 114.84, Stop below 110.32 (-4.52), Target1 Zone: 137.8 to 145.3, Target2 Zone: 166.8 to 182.4, Target3 Zone:211-226.
Reviewed in CPAT 12/04/17
MCD ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (38)
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Reviewed in CPAT 10/16/17
$GS (D) is trading in Cup & Handle Pattern. Entry above breakout level: 255.15,Handle Low: 245.08, 22.12% below breakout level. T1: 283.3 to 290.9 T2: 313.0 to328.9
GS Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (39)
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$AXGN (W) is trading in Parabolic Arc from 08/15/2014 (low: 2.11) to 12/01/2017(high: 27.60). Parabolic Arc patterns are long-term patterns, but most of the upsideparabolic patterns return to at least 50-62% of its prior rise in a correction mode.
AXGN Parabolic Arc Pattern
Chart Patterns & Algorithmic Trader (40)
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$AAL (D) ABC Bullish Pattern Long Entry above 45.98, Stop below 45.26 (-0.72),Target1 Zone: 52.1 to 54.0, Target2 Zone: 59.4 to 63.3
AAL ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (41)
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$OSTK (D) is trading in Parabolic Arc from 06/02/2017 (low: 13.75) to 12/01/2017(high: 65.70). Parabolic Arc patterns are long-term patterns, but most of the upsideparabolic patterns return to at least 50-62% of its prior rise in a correction mode.
OSTK Parabolic Arc Pattern
Chart Patterns & Algorithmic Trader (42)
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AAL (Daily) is trading in Symmetric Triangle Pattern.
AAL Symmetric Triangle Pattern
Chart Patterns & Algorithmic Trader (43)
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Reviewed in CPAT 10/16/17
LULU (Daily) is trading in Rectangle Channel. LULU broke out of rectangle channelabove $64. Upper Targets: $67 to $70.
LULU Rectangle Channel
Chart Patterns & Algorithmic Trader (44)
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$PFE (W) ABC Bullish Pattern Long Entry above 31.34, Stop below 29.82 (-1.52),Target1 Zone: 35.5 to 37.0, Target2 Zone: 41.4 to 44.6
PFE ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (45)
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$ADI (W) ABC Bullish Pattern Long Entry above 52.84, Stop below 47.23 (-5.61),Target1 Zone: 63.6 to 68.0, Target2 Zone: 80.8 to 90.0
ADI ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (46)
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Reviewed in CPAT 11/13/17
$KLAC (D) is trading in Cup & Handle Pattern. Entry above breakout level: 109.59,Handle Low: 98.86, 49.54% below breakout level. T1: 123.0 to 126.6 T2: 137.1 to144.7
KLAC Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (47)
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Reviewed in CPAT 09/18/17
$AMTD (D) is trading in Cup & Handle Pattern. Entry above breakout level: 47.41,Handle Low: 41.83, 49.42% below breakout level. T1: 54.4 to 56.3 T2: 61.7 to 65.7
AMTD Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (48)
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Reviewed in CPAT 10/23/17
$AAPL (W) ABC Bullish Pattern Long Entry above 95.91, Stop below 89.46 (-6.45),Target1 Zone: 138.6 to 152.0, Target2 Zone: 190.5 to 218.3
AAPL ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (49)
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GILD (Daily) is trading in Bear Flag pattern.
GILD Bear Flag Pattern
Chart Patterns & Algorithmic Trader (50)
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Reviewed in CPAT 10/09/17
$STX (W) ABC Bullish Pattern Long Entry above 33.17, Stop below 30.59 (-2.58),Target1 Zone: 50.7 to 56.2, Target2 Zone: 71.9 to 83.3
STX ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (51)
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OIL (Daily) is trading in Symmetric Triangle pattern. Symmetric Triangle breakoutlevel: $5.05. Targets: $6-6.27, $6.60, $7-7.56.
OIL Symm. Triangle Pattern
Chart Patterns & Algorithmic Trader (52)
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Reviewed in CPAT 11/20/17
$TSCO (D) ABC Bullish Pattern Long Entry above 56.74, Stop below 54.75 (-1.99),Target1 Zone: 63.2 to 65.5, Target2 Zone: 72.0 to 76.8
TSCO ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (53)
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$BRTI (CME’s Bitcoin Real-Time Index) is trading in 5th Target zone (16229-17314).
$BRTI ABC Bullish Pattern
Chart PatternsFutures & Commodities
Futures Chg%
Futures Weekly Performance
Chart Patterns & Algorithmic Trader (57)
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@AD (Daily) is trading in AB=CD Bearish pattern. AB=CD target zone: 0.7328 to0.7496.
Reviewed in CPAT 11/13/17
@AD AB=CD Bearish Pattern
Chart Patterns & Algorithmic Trader (58)
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@BP is forming Symmetric Triangle. @BP is also trading in regression channel(reviewed in CPAT4 10/9/17).
@BP Symmetric Triangle Pattern
Chart Patterns & Algorithmic Trader (59)
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$@CD (D) is trading in H&S Pattern (F). Short entry below 0.78310, Stop above0.78768 (-0.00457), Target1 Zone: 0.7545 to 0.7468, Target2 Zone: 0.7244 to 0.7083.
@CD Head and Shoulders Pattern
Chart Patterns & Algorithmic Trader (60)
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$@CL (D) is trading in Cup & Handle Pattern. Entry above breakout level: 59.59,Handle Low: 55.82, 23.26% below breakout level. T1: 69.6 to 72.3
@CL Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (61)
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Reviewed in CPAT 10/02/17
$@CL (D) is trading in Inv. H&S Pattern. Long entry above 51.55, Stop below 49.05(2.50), Target1 Zone: 56.6 to 58.0, Target2 Zone: 61.9 to 64.8
@CL Inv. H&S Pattern
Chart Patterns & Algorithmic Trader (62)
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Reviewed in CPAT 12/04/17
@DX (D) ABC Bullish Pattern Long Entry above 93.155, Stop below 92.425 (-0.730), Target1 Zone: 95.09 to 95.81, Target2 Zone: 97.89 to 99.40
@DX ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (63)
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@HG is trading in AB=CD Bearish pattern
@HG AB=CD Pattern
Chart Patterns & Algorithmic Trader (64)
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@JY (Daily) is trading in Inverse Head and Shoulders Pattern. Inv. H&S patterns arevalid only when price breaks out above Neckline.
@JY (D) is trading in Inv. H&S Pattern (F). Long entry above 0.89800, Stop below0.89138 (0.00662), Target1 Zone: 0.9134 to 0.9176, Target2 Zone: 0.9297 to 0.9384
@JY Inv. H&S Pattern
Chart PatternsFX
FX Weekly Performance
FX Chg%
Chart Patterns & Algorithmic Trader (68)
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AUDCAD (Daily) is trading in Falling Wedge pattern. Falling wedge patterns aretraded when price closes above upper trendline as a breakout setup.
AUDCAD Falling Wedge Pattern
Chart Patterns & Algorithmic Trader (69)
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$CADJPY (D) is trading in Cup & Handle Pattern. Entry above breakout level:88.914, Handle Low: 85.415, 41.92% below breakout level. T1: 94.07 to 95.47 T2:99.51 to 102.43
CADJPY Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (70)
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CHFJPY (Daily) is trading in Descending Triangle. Descending Triangle patterns canbe both breakout and breakdown patterns, depending where they are forming and itsbreakout/breakdown modes.
CHFJPY Desc. Triangle
Chart Patterns & Algorithmic Trader (71)
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Reviewed in CPAT 10/30/17
$EURCAD (D) ABC Bullish Pattern Long Entry above 1.48107, Stop below 1.47378(-0.00729), Target1 Zone: 1.5173 to 1.5291, Target2 Zone: 1.5631 to 1.5878
EURCAD ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (72)
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$EURGBP (D) is trading in H&S Pattern. Short entry below 0.87458, Stop above0.88891 (-0.01433), Target1 Zone: 0.8400 to 0.8306
EURGBP Head and Shoulders Pattern
Chart Patterns & Algorithmic Trader (73)
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$GBPAUD (D) ABC Bullish Pattern Long Entry above 1.62651, Stop below 1.61605(-0.01046), Target1 Zone: 1.7240 to 1.7534, Target2 Zone: 1.8380 to 1.8991
GBPAUD ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (74)
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$GBPAUD (D) is trading in Cup & Handle Pattern. Entry above breakout level:1.76498, Handle Low: 1.68620, 52.90% below breakout level. T1: 1.8570 to 1.8820T2: 1.9541 to 2.0062
GBPAUD Cup & Handle Pattern
Chart Patterns & Algorithmic Trader (75)
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Reviewed in CPAT 11/13/17
$GBPNZD (D) ABC Bullish Pattern Long Entry above 1.76156, Stop below 1.73371(-0.02785), Target1 Zone: 1.8653 to 1.9011, Target2 Zone: 2.0042 to 2.0788
GBPNZD ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (76)
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$USDJPY (D) ABC Bullish Pattern Long Entry above 111.685, Stop below 110.835(-0.850), Target1 Zone: 115.42 to 116.66, Target2 Zone: 120.25 to 122.85
USDJPY ABC Bullish Pattern
KeySupport/Resistance,
Pivots
Chart Patterns & Algorithmic Trader (78)
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ES Fib. Zone Pivots
@ES Fib. Zone Pivots
Chart Patterns & Algorithmic Trader (79)
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NQ Fib. Zone Pivots
NQ Fib. Zone Pivots
Chart Patterns & Algorithmic Trader (80)
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QM Fib. Zone Pivots
QM Fib. Zone Pivots
Chart Patterns & Algorithmic Trader (81)
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@GC Fib. Zone Pivots
GC Fib. Zone Pivots
Chart Patterns & Algorithmic Trader (82)
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YM Fib. Zone Pivots
YM Fib. Zone Pivots
GAP ChartsShows filled and unfilled gap levels
Chart Patterns & Algorithmic Trader (84)
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@ES Gap Chart
@ES Gap chart with filled and unfilled Gaps with at least 1 ATR Gap.
Chart Patterns & Algorithmic Trader (85)
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@NQ Gap chart with filled and unfilled Gaps with at least 1 ATR Gap.
@NQ Gap Chart
Chart Patterns & Algorithmic Trader (86)
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YM Gap Chart
@YM Gap chart with filled and unfilled Gaps with at least 1 ATR Gap.
EarningsCompanies releasing earnings in the next few weeks.
Dece
mber
Ear
nings
Cale
ndar
Janu
ary
Earn
ings C
alend
ar
Chart Patterns & Algorithmic Trader (90)
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ADBE Parabolic Arc Pattern
Reviewed in CPAT 09/18/17
$ADBE (W) is trading in Parabolic Arc from 08/19/2011 (low: 22.67) to 12/01/2017(high: 186.27). Parabolic Arc patterns are long-term patterns, but most of the upsideparabolic patterns return to at least 50-62% of its prior rise in a correction mode.
Chart Patterns & Algorithmic Trader (91)
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BLK (Weekly, Earnings: 1/10/18) is trading in AB=CD pattern. AB=CD patterncompletion is level: $497.
BLK AB=CD Pattern
Chart Patterns & Algorithmic Trader (92)
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Reviewed in CPAT 10/09/17
$C (W) ABC Bullish Pattern Long Entry above 40.35, Stop below 34.51 (-5.84),Target1 Zone: 56.8 to 62.8, Target2 Zone: 80.3 to 92.9
C ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (93)
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$COST (W) ABC Bullish Pattern Long Entry above 154.28, Stop below 149.99 (-4.29), Target1 Zone: 179.4 to 187.4, Target2 Zone: 210.5 to 227.1
COST ABC Bullish Pattern
Chart Patterns & Algorithmic Trader (94)
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Reviewed in CPAT 12/04/17
MU ABC Bullish Pattern
$MU (W) ABC Bullish Pattern Long Entry above 11.54, Stop below 9.30 (-2.24),Target1 Zone: 28.7 to 34.0, Target2 Zone: 49.2 to 60.2
Chart Patterns & Algorithmic Trader (95)
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Reviewed in CPAT 09/18/17
$RHT (W) ABC Bullish Pattern Long Entry above 75.07, Stop below 68.53 (-6.54),Target1 Zone: 82.3 to 86.0, Target2 Zone: 96.8 to 104.5
RHT ABC Bullish Pattern
Weekly Relative Performances
Sector & Indexes Relative PerformancesWinners: Retail, Financials, Industrials
Losers: Healthcare, Energy, Utilities
Dow 30 Weekly Relative Performance
Select Sectors Weekly Performance
Country ETFs Weekly Performance
Commodity ETFs Weekly Performance
Watch ListsMomentum
Relative Strength
Bullish/Bearish Lists
NH/NL
Oversold/Overbought
Key Retracements
Sect
or ET
F %DW
MY
Relative Strength Ranks (200)
RS Ranks Sorted (Alpha)
Bullish/Bearish List
52 Week Highs and Lows
D%, W%, M%, YTD%
Algorithmic TradingAlgo. Techniques
Algo. Reports
Current Algorithms
ALL RETURNS POSTED ON THIS PUBLICATION ARE HYPOTHETICAL PERFORMANCE GENERATED BYCOMPUTERIZED SYSTEM AND THEY ARE NOT ACTUAL TRADE REPORTS. HYPOTHETICAL PERFORMANCERESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATIONIS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSESHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCERESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONEOF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPAREDWITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIALRISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIALRISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULARTRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELYAFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS INGENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLYACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CANADVERSELY AFFECT ACTUAL TRADING RESULTS.
Trading Confluence ofChart Patternsby Suri Duddella
Chart patterns form purely as a result of knowledgebased bias work in the markets. The learnedbehavior of traders to buy and sell above andbelow the key support and resistance levels oraround critical price levels (highs, lows, pivots)creates price barriers in the form of trendlines orchannels. These barriers become action/reactionlines and form geometric structures (ChartPatterns). Successful pattern trading requires theknowledge of chart pattern formation, itsarrangement, and its market manipulation. Therecognition of patterns and its body of knowledgeof how to react and what to expect helps a trader’ssuccess.
What is Confluence?
Technical Analysis is the study of behavioralpatterns of various technical events. Confluence iswhen there is more than one technical analysisconcept coming together at the same point in themarket. Traders find a setup which has multipleprice concepts from various non-correlatedtechniques or multiple price-patterns have found ahigh probability trading opportunity and there is ahigh chance of the trade working out successfully.Finding a confluence could eliminate noise fromvalidating signal. When multiple ideas or eventsbegin to unfold, traders look for confluence tohave an edge before entering a trade.
Confluence can be found in all forms of the markets-- Price Patterns, Moving Averages, Pivots, Supportor Resistance levels, Trendlines and Fibonaccilevels. All these tools were meeting a singlelocation to form a unified event, it is considered apoint of confluence. Confluence trading is simplycombining more than one trading technique orchart pattern or analysis to increase trader odds ofwinning on a trade.
Patterns Confluence with Price Levels
First I present a basic example of how confluenceconcept works with Patterns and price levels.
I am a believer of the confluence of various pricelevels forming support and resistance zones.Confluence zones from multiple pattern or tradesetups act as key areas for price-action. Tradingsolely with these price levels may not be the bestchoice, but using these confluence zones withpattern setups may result in profitable trades. HereI show how I anticipate these confluence pricezones and trade ABC chart pattern with the marketcontext.
The following chart shows S&P Emini (@ES)contract daily chart with ABC Bullish pattern andFloor & Fib. Zone Pivots indicators. @ES formed anABC Bullish pattern from July to November of 2016with a long entry at 2088 and a stop at 2068. Thefirst target zone is 2198 to 2233 and the secondtarget zone is 2335 to 2408. A Floor & Fib. Zonespivots (Monthly) indicator is also plotted on thesame chart to find potential support and resistancezones. A confluence target zone for ABC Bullishpattern targets and pivots target zones is formedfrom 2365 to 2394. @ES reached its confluencetarget zone 2388 in March 2017.
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Patterns Confluence
The confluence of technical indicators or patterns is a greatway to validate trends and enter trades with confidence.When similar chart patterns (continuous or reversal) formingin multiple time-frames at the same point, traders may havefound high probability trading opportunities. Here I presentcurrent 20-Year Treasury ETF (TLT) chart in multiple time-frames and various chart patterns to show the significanceof confluence trading.
A Double Bottom pattern is formed in TLT weekly time-frame from June 2015 to April 2017 with a long entry at119 and stop at 116. The first target range is $134-$139.Also, notice an embedded Dragon Bullish pattern insideDouble bottom pattern in January 2017.
The second chart shows TLT daily chart along with a trendindicator eSIX. The trend indicator eSIX uses non-correlatedcomponents to derive the underlying trend. TLT madelower-low swing prices from January 2017 to April 2017,
where as eSIX indicator made higher-high levels signalingpositive divergence and a potential reversal in its down-trend. From April to mid-May, TLT also formed an ABCBullish pattern. The confluence of TLT's double bottompattern (weekly) and ABC Bullish pattern with a strongpositive divergence signaled a long trade opportunity. ABCtrade entry was at $121.25 with a stop below $119.9 andtargets are $125-$126.5 and $130-$133.
The third chart shows TLT (Daily) and a confluence of 5-Wave (bullish) pattern weekly double bottom pattern(bullish) and ABC bullish patterns. A bullish divergence fromthe bottom of the price and a 5-Wave pattern showinghigher-high and higher-low swings. 5-Wave patterns aresimilar to Elliott wave patterns with simple waveformations. A bullish price channel is drawn on the 5-Wavepattern to compute the target zones. The 5-Wave patterntarget zone is set at the top of the trend-channel at $132-$134.
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