Chart pattern size?
Hi,
I see most picks here rely on chart patterns with various indicators being used to confirm breaks. I'm new to trading and can't figure out how the more experienced traders here figure out the size of their legitimate chart patterns.
For example, RIMM, which one of these would be a legitimate Ascending triangle and why?
Tri. 1
Tri. 2
Tri. 3
Your actions based off of the three variations above could be vastly different for a particular strategy, so how are you guys so sure that the pattern you draw has a meaning in terms of the price action of the stock?
I see most picks here rely on chart patterns with various indicators being used to confirm breaks. I'm new to trading and can't figure out how the more experienced traders here figure out the size of their legitimate chart patterns.
For example, RIMM, which one of these would be a legitimate Ascending triangle and why?
Tri. 1
Tri. 2
Tri. 3
Your actions based off of the three variations above could be vastly different for a particular strategy, so how are you guys so sure that the pattern you draw has a meaning in terms of the price action of the stock?
