stayed with the pattern. Over previous close but below open.
Oh sorry I see the guy who jumps without a helmet already posted it.
SIRIUS XM SATELLITE RADIO FORUM
stayed with the pattern. Over previous close but below open.
Oh sorry I see the guy who jumps without a helmet already posted it.
Last edited by mogami; 03-23-2009 at 04:05 PM.
well if that pattern continues it'll be a good positive trend up- just maybe not as fast as some would like
and the winner for today? ME!
Boy, did we have our heads in the clouds.....Originally Posted by Brandon Matthews
SIRI closed at .33....
there's a special pattern chartists like...triangles. It means supply and demand are coming to a head. A bullish triangle happens when a stock is trading in an uptrend, like sirius has been.
There is a downtrend line in todays chart that mirrors an uptrend line. The point of the triangle meets at about .3250. The downtrend line has been broken, which menas supply is breaking down.
When supply breaks down , demand takes over and up we go....
Last edited by Brandon Matthews; 03-23-2009 at 04:06 PM.
yeah brandon i think we will go up, tommrow is sharebuilder teusday as well haha hopefully they got that site working right. lets see if the theories about why we flew last teusday are right
http://www.tradingpricepatterns.com/bullish-triangle/
Definition:
A bullish triangle is a symmetrical triangle that forms in the context of a bullish trend. The triangle starts with a big upward move in the stock over a relatively short period of time. This period of time may be weeks for long-term traders or hours for short-term traders.
The stock then proceeds to reverse lower, bounce higher, and continues to do so along converging diagonal support and resistance lines. Both buyers and sellers grow increasingly aggressive in their views, and give the stock less and less room to fluctuate. The converging support and resistance lines meet at the apex of the triangle, at which point the stock generally breaks higher.
Stocks don’t necessarily have to reach the apex of the bullish triangle before breaking. Oftentimes you will see bullish triangles break well in advance of the stock reaching the apex.
Nuance:
The triangle itself is symmetrical and, in fact, neutral in terms of directional bias. It’s only a bullish triangle if it occurs in the context of a bullish trend. It’s very important to independently define the trend of the stock when trading triangles.
Application:
A bullish triangle is confirmed once a stock breaks above the upper-end of the triangle, which is defined by the downward sloping resistance line. A bullish triangle is rejected if the stock breaks down below the lower-end of the triangle, which is defined by the upward sloping support line. A breakdown from a bullish triangle will lead to a period during which a stock trades sideways or starts a new bearish trend and moves lower.
ya. I'm a long time lurker and first time poster. I'm in for about $350,000
Looking forward to making some money on this one of these days.
I'm almost 100% xfr'd from Sharebuilder to TD Ameritrade and I can't wait! It's like graduating from high school
I agree it's good. When ING lets me I trade on it. During day (not today of course) if SP is higher then opening price and appears to have reached top I sell and then when SP falls back below previous close I rebuy. This has worked twice since SIRI went up after CC (I missed several more chances thanks to ING)(have I mentioned I hate ING in the last 30 minutes?)
