Wednesday, January 30, 2013

Best Chart Patterns of 2012

Peter Brandt (my favorite trader) has written a blog post 'best dressed list of 2012' which showcases the best looking chart patterns found last year. His rules for selection are:

1. Clearly defined chart pattern on daily and weekly charts with at least 12 weeks in duration.

2. Clean breakout with little or no pattern retesting.

3. A sustained move to the target.

This is an interesting idea. Creating a chat book of such patterns is useful to all traders. A reading of his post is recommended, if just to observe the patterns that he identifies.

AN INDIAN LIST

Readers are requested to identify similar charts from the Indian Markets. If you wish to send me the chart then email is to: sudarshansukhani@gmail.com. Or, you can mention the pattern in comments, here.

Here is a classical head and shoulder pattern in Ambuja.

image

1 comment:

Rakesh Shethia said...

what would be the appropriate entry level for this break out? On 22nd July after the large range bar? or after the close on 26th Aug. after the successful retest?