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Sunday, May 29, 2011

The final type of bullish chart

New-Model # 5: 3-row
The final type of bullish chart I'm here to cover now is what is called "three row". This is where you have three consecutive green candles in a row, anyone who has a higher low, then the highest previous candles high.
When you started in profitable long, start getting ready to sell at the top of the 3-row, as it is a model other traders also look to sell on top of.

MLNM EXAMPLE:
We see bullish engolfing pattern here just after 10:30 our bottom. This is a signal to buy, for example, during the 27 3 / 8 or so.
Three row you can see, the second field is great - we are open with a nice profit. However, looking to exit the top of the 3-row (or sooner, of course, depending on whether your trailing stop gets taken out).
On top of the 3-row will see doji candle type occur, so we exit as it starts to grind down to the 28th

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