Traderji said:
I swing trade breakouts of chart patterns like pennants and flags.
For exampe after a stock has made a new three month high on the daily chart (this confirms an uptrend) I wait for a consolidation of at least a week (during which time that chart could form a pennant or flag)
I then go long only on a close above the previous 5 day high and ride the trend with a trailing stop below the previous days low.
For exampe after a stock has made a new three month high on the daily chart (this confirms an uptrend) I wait for a consolidation of at least a week (during which time that chart could form a pennant or flag)
I then go long only on a close above the previous 5 day high and ride the trend with a trailing stop below the previous days low.