suriNotes.com’s Nov. 20, 2017 Chart Patterns & Algo. Trader A Weekly Publication ● ● ● ● Energy Stocks
Chart Patterns & Algorithmic Trader 2017 ALL RIGHTS RESERVED No part of this document may be reproduced or transmitted without the express written consent of the suriNotes.com or Suri Duddella. This document relies on sources and information reasonably believed to be accurate, but neither the author nor publisher guarantees accuracy or completeness. The examples in this document could be considered hypothetical trades. The CFTC warns that: HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. COPYRIGHT © 2017 – suriNotes.com Data & Charts are created by TradeStation Software from TradeStation Securities. Published in the United States of America
Disclaimer: All the material in this document is provided as Educational Material only. NONE of the chart patterns or chart setups or all other material in this document are trade recommendations. Trading is risky. You are 100% responsible for your own trading. Trading is risky. You are 100% responsible for your own trading. suriNotes.com or Suri Duddella, specifically disclaims any and all express and implied warranties. Your trades may entail substantial loss. Nothing in this document should be construed as a recommendation to buy or sell any security or other instrument, or a determination that any trade is suitable for you. Chart Patterns and other material in this document are Auto generated in TradeStation software and we try our best to check for errors and data consistency, but they may still consist of data or algorithmic errors.
Market Quotes “A good trader has to have three things: a chronic inability to accept things at face value, to feel continuously unsettled, and to have humility.” - Michael Steinhardt "Success consists of going from failure to failure without loss of enthusiasm.” - Winston Churchill “You miss 100% shots you don't take.” - Wayne Gretzsky
Table of Contents US Markets Patterns Gallery Chart Patterns Energy & Oil Stocks Stocks/Futures/Commodities/FX Earnings Next Week/Charts Watch Lists Bullish/Bearish, Relative Strength Key Supp/Resistance/Pivots Charts Gap Charts Weekly Relative Performances ALGORITHMIC TRADER Trading ABC Bearish Patterns Algorithmic Trades Symbols Universe Books/Websites/Software
Chart Links ■Major Market Indexes Trends ■Gold Futures ABC Bullish Pattern ■@QM Inv. H&S Pattern ■@QM Inv. H&S Pattern ■USO Inv. H&S Pattern ■XLE ABC Bullish Pattern ■XOP ABC Bullish Pattern ■COP ABC Bullish Pattern ■CORR Rectangle Channel ■CVX Cup & Handle Pattern ■CXO Bull Flag Pattern ■DVN ABC Bullish Pattern ■MRO ABC Bullish Pattern ■MUR AB=CD Pattern ■XOM Bearish Dragon Pattern ■COST ABC Bullish Pattern ■LLY ABC Bullish Pattern ■SPLK Cup & Handle Pattern ■LULU Rectangle Channel Pattern ■WMT ABC Bullish Pattern ■TSCO ABC Bullish Pattern ■MRK Multiple Top ■NTGR Inv. HS Pattern ■MMYT H&S Pattern ■AMAT Ascending Triangle ■SWKS Cup & Handle Pattern ■GDX ABC Bullish Pattern ■INTC ABC Bullish Pattern ■@HO ABC Bullish Pattern ■@QM Inv. H&S Pattern ■@RR AB=CD Pattern ■@GC ABC Bullish Pattern 12 13 14 18 19 20 21 22 23 24 25 26 27 28 29 33 34 35 36 37 38 39 40 41 42 43 44 45 49 50 51 52
■@SI Inv. H&S Pattern ■@OJ Cup & Handle Pattern ■@SB Desc. Triangle Pattern ■AUDUSD ABC Bullish Pattern ■CADCHF AB=CD Pattern ■CADJPY Cup & Handle Pattern ■EURAUD ABC Bullish Pattern ■EURGBP ABC Bullish Pattern ■EURNZD ABC Bullish Pattern ■GBPCAD Inv. H&S Pattern ■GBPJPY Rectangle Channel Pattern ■USDCAD Inv. H&S Pattern ■USDJPY ABC Bullish Pattern ■QM Fib. Zone Pivots ■@ES Gap Chart ■YM Gap Chart ■FIVE ABC Bullish Pattern ■ULTA Parabolic Arc Pattern ■WDAY ABC Bullish Pattern ■PVH ABC Bullish Pattern ■TIF Rectangle Channel ■ADSK Ascending Triangle Pattern ■NUAN AB=CD Pattern ■VMW AB=CD Pattern ■CRM ABC Bullish Pattern ■HPQ Cup & Handle Pattern ■INTU Cup & Handle Pattern ■SLV Inv. H&S Pattern 53 54 55 59 60 61 62 63 64 65 66 67 68 72 76 78 82 83 84 85 86 87 88 89 90 91 92 93
Major Markets
Major Markets Major Indexes %Chg YTD
Chart Patterns & Algorithmic Trader (12) Major Market Indexes Trends All four major market indexes (Weekly) charts are showing strong eSix trends. www.surinotes.com
Chart Patterns & Algorithmic Trader (13) Gold Futures ABC Bullish Pattern Reviewed in CPAT 10/09/17 Gold Futures @GC (Daily) chart is trading in ABC Bullish Pattern. ABC Bullish Long Entry above 1281.7, Stop below 1262.7 (-19.0), Target1 Zone: 1357 to 1382, Target2 Zone: 1456 to 1509 www.surinotes.com
Chart Patterns & Algorithmic Trader (14) @QM Inv. H&S Pattern Reviewed in CPAT 09/25/17 $@QM (D) is trading in Inv. H&S Pattern. Long entry above 51.575, Stop below 49.075 (2.500), Target1 Zone: 56.64 to 58.02, Target2 Zone: 61.99 to 64.86 www.surinotes.com
Energy Stocks
Energy Stocks (YTD%)
Energy Stocks
Chart Patterns & Algorithmic Trader (18) @QM Inv. H&S Pattern Reviewed in CPAT 09/25/17 @QM (D) Inv. HS Pattern. Long entry above 51.375, Stop below 48.875 (2.500), Target1 Zone: 56.44 to 57.82, Target2 Zone: 61.79 to 64.66 www.surinotes.com
Chart Patterns & Algorithmic Trader (19) USO Inv. H&S Pattern Reviewed in CPAT 10/30/17 $USO (D) Inv. HS Pattern. Long entry above 10.32, Stop below 9.83 (0.49), Target1 Zone: 11.4 to 11.6, Target2 Zone: 12.4 to 13.0 www.surinotes.com
Chart Patterns & Algorithmic Trader (20) XLE ABC Bullish Pattern $XLE (W) ABC Bullish Pattern. Currently eSIX trend is WAIT mode. Long Entry above 64.35, Stop below 61.79 (-2.56), Target1 Zone: 79.4 to 84.2, Target2 Zone: 98.0 to 108.0 www.surinotes.com
Chart Patterns & Algorithmic Trader (21) XOP ABC Bullish Pattern XOP (W) is trading in ABC Bullish pattern. Current eSIX trend is red and pattern trend is not yet confirmed. www.surinotes.com
Chart Patterns & Algorithmic Trader (22) COP ABC Bullish Pattern $COP (W) ABC Bullish Pattern Long Entry above 45.10, Stop below 42.25 (-2.85), Target1 Zone: 55.9 to 59.6, Target2 Zone: 70.4 to 78.1 www.surinotes.com
Chart Patterns & Algorithmic Trader (23) CORR Rectangle Channel CORR ((Daily) is trading in Rectangle Channel. www.surinotes.com
Chart Patterns & Algorithmic Trader (24) CVX Cup & Handle Pattern Reviewed in CPAT 10/23/17 $CVX (D) is trading in Cup & Handle Pattern. Entry above breakout level: 119.00, Handle Low: 112.52, 39.39% below breakout level. T1: 129.2 to 131.9 T2: 139.9 to 145.6 www.surinotes.com
Chart Patterns & Algorithmic Trader (25) CXO Bull Flag Pattern CXO (Daily) is trading in Bull Flag pattern. The bull flag long entry was above $135 with targets at $142-145, $149, $155-162. Initial stop was below $130. www.surinotes.com
Chart Patterns & Algorithmic Trader (26) DVN ABC Bullish Pattern $DVN (W) ABC Bullish Pattern Long Entry above 32.77, Stop below 28.78 (-3.99), Target1 Zone: 48.9 to 54.4, Target2 Zone: 70.2 to 81.6. See DVN (Daily) ABC Bullish Pattern in CPAT 10/30/17. www.surinotes.com
Chart Patterns & Algorithmic Trader (27) MRO ABC Bullish Pattern $MRO (W) ABC Bullish Pattern Long Entry above 12.08, Stop below 10.54 (-1.54), Target1 Zone: 18.4 to 20.6, Target2 Zone: 26.8 to 31.2 www.surinotes.com
Chart Patterns & Algorithmic Trader (28) MUR AB=CD Pattern MUR (Daily) completed AB=CD Pattern as price reached 100% AB extension level. www.surinotes.com
Chart Patterns & Algorithmic Trader (29) XOM Bearish Dragon Pattern XOM (W) is trading in Bearish Dragon pattern. Dragon Bearish first target range ($70-$75). www.surinotes.com
Chart Patterns Stocks/Options/Indexes
Patterns Gallery
Chart Patterns & Algorithmic Trader (33) COST ABC Bullish Pattern Reviewed in CPAT 10/23/17 $COST (D) ABC Bullish Pattern Long Entry above 157.25, Stop below 154.10 (3.15), Target1 Zone: 164.8 to 167.7, Target2 Zone: 176.0 to 182.0 www.surinotes.com
Chart Patterns & Algorithmic Trader (34) LLY ABC Bullish Pattern $LLY (D) ABC Bullish Pattern Long Entry above 83.00, Stop below 81.41 (-1.59), Target1 Zone: 89.0 to 91.0, Target2 Zone: 96.9 to 101.2 www.surinotes.com
Chart Patterns & Algorithmic Trader (35) SPLK Cup & Handle Pattern Reviewed in CPAT 10/23/17 $SPLK (D) is trading in Cup & Handle Pattern. Entry above breakout level: 69.23, Handle Low: 62.34, 45.75% below breakout level. T1: 78.5 to 81.1 T2: 88.4 to 93.6 www.surinotes.com
Chart Patterns & Algorithmic Trader (36) LULU Rectangle Channel Pattern Reviewed in CPAT 10/16/17 LULU (Daily, Earnings: 12/06/17) is trading in Rectangle Channel pattern. LULU upside breakout level: $63.86. Targets: $67, $70. Stop: $60.70. www.surinotes.com
Chart Patterns & Algorithmic Trader (37) WMT ABC Bullish Pattern Reviewed in CPAT 10/16/17 $WMT (W) ABC Bullish Pattern Long Entry above 68.50, Stop below 65.27 (-3.23), Target1 Zone: 77.0 to 80.1, Target2 Zone: 89.3 to 95.9 www.surinotes.com
Chart Patterns & Algorithmic Trader (38) TSCO ABC Bullish Pattern $TSCO (D) ABC Bullish Pattern Long Entry above 56.74, Stop below 54.75 (-1.99), Target1 Zone: 61.9 to 63.9, Target2 Zone: 69.5 to 73.6 www.surinotes.com
Chart Patterns & Algorithmic Trader MRK Multiple Top (39) MRK (Daily) is trading Multiple Top pattern. MRK’s Rectangle Channel pattern was reviewed in CPAT6 (10/23/17) magazine. www.surinotes.com
Chart Patterns & Algorithmic Trader (40) NTGR Inv. HS Pattern Reviewed in CPAT 10/23/17 $NTGR (D) Inv. HS Pattern. Long entry above 51.90, Stop below 48.00 (3.90), Target1 Zone: 58.3 to 60.1, Target2 Zone: 65.1 to 68.7 www.surinotes.com
Chart Patterns & Algorithmic Trader MMYT H&S Pattern (41) Reviewed in CPAT 10/02/17 MMYT (D) is trading in H&S Pattern. Short entry below 30.60, Stop above 33.10 (2.50), Target1 Zone: 24.2 to 22.5, Target2 Zone: 17.5 to 13.9 www.surinotes.com
Chart Patterns & Algorithmic Trader (42) AMAT Ascending Triangle AMAT (Daily) reached its 2nd Target zone in Ascending Triangle. Reviewed in CPAT 10/02/17 www.surinotes.com
Chart Patterns & Algorithmic Trader (43) SWKS Cup & Handle Pattern Reviewed in CPAT 10/09/17 SWKS (W) is trading in Cup & Handle Pattern. Entry above breakout level: 112.88, Handle Low: 94.30, 31.83% below breakout level. T1: 149.0 to 158.8 T2: 187.0 to 207.5 www.surinotes.com
Chart Patterns & Algorithmic Trader (44) GDX ABC Bullish Pattern Reviewed in CPAT 10/23/17 GDX (Daily) is trading in ABC Bullish Pattern. Long Entry above 22.79, Stop below 22.21 (-0.58), Target1 Zone: 25.1 to 25.8, Target2 Zone: 28.0 to 29.7 www.surinotes.com
Chart Patterns & Algorithmic Trader (45) INTC ABC Bullish Pattern Reviewed in CPAT 11/03/17 $INTC (W) ABC Bullish Pattern Long Entry above 27.44, Stop below 24.86 (-2.58), Target1 Zone: 36.4 to 39.5, Target2 Zone: 48.6 to 55.1 www.surinotes.com
Chart Patterns Futures & Commodities
Futures Chg%
Futures Weekly Performance
Chart Patterns & Algorithmic Trader (49) @HO ABC Bullish Pattern Reviewed in CPAT 10/23/17 $@HO (W) ABC Bullish Pattern Long Entry above 1.4551, Stop below 1.3514 (0.1037), Target1 Zone: 1.819 to 1.946, Target2 Zone: 2.312 to 2.576 www.surinotes.com
Chart Patterns & Algorithmic Trader (50) @QM Inv. H&S Pattern Reviewed in CPAT 10/30/17 $@QM (D) Inv. HS Pattern. Long entry above 51.575, Stop below 49.075 (2.500), Target1 Zone: 56.64 to 58.02, Target2 Zone: 61.99 to 64.86 www.surinotes.com
Chart Patterns & Algorithmic Trader (51) @RR AB=CD Pattern @RR (Daily) is trading in AB=CD Pattern. Most AB=CD patterns reverse its trend once they reach 78-127% of AB leg. www.surinotes.com
Chart Patterns & Algorithmic Trader (52) @GC ABC Bullish Pattern Reviewed in CPAT 10/09/17 $@GC (D) ABC Bullish Pattern. ESIX trend is still red and not confirmed for long setup. ABC Bullish pattern long Entry above 1281.7, Stop below 1262.7 (-19.0), Target1 Zone: 1357 to 1382, Target2 Zone: 1456 to 1509 www.surinotes.com
Chart Patterns & Algorithmic Trader (53) @SI Inv. H&S Pattern Reviewed in CPAT 10/09/17 $@SI (D) ABC Bullish Pattern Long Entry above 16.786, Stop below 16.340 (-0.446), Target1 Zone: 18.23 to 18.75, Target2 Zone: 20.23 to 21.30 www.surinotes.com
Chart Patterns & Algorithmic Trader (54) @OJ Cup & Handle Pattern @OJ (Daily) is forming Cup & Handle pattern. C&H breakout level is 178.80. Price needs to close above breakout level for potential long trade. Entry above breakout level: 178.80, Handle Low: 154.00, 40.19% below breakout level. T1: 216.9 to 227.3 T2: 257.2 to 278.8 www.surinotes.com
Chart Patterns & Algorithmic Trader (55) @SB Desc. Triangle Pattern @SB (Daily) is trading in Descending Triangle pattern. Reviewed in CPAT 10/16/17 www.surinotes.com
Chart Patterns FX
FX Chg%
FX Weekly Performance
Chart Patterns & Algorithmic Trader (59) AUDUSD ABC Bullish Pattern Reviewed in CPAT 10/30/17 $AUDUSD (D) ABC Bullish Pattern Long Entry above 0.76494, Stop below 0.75726 (-0.00768), Target1 Zone: 0.8064 to 0.8198, Target2 Zone: 0.8583 to 0.8862 www.surinotes.com
Chart Patterns & Algorithmic Trader (60) CADCHF AB=CD Pattern CADCHF (W) is trading AB=CD Pattern. www.surinotes.com
Chart Patterns & Algorithmic Trader (61) CADJPY Cup & Handle Pattern Reviewed in CPAT 10/16/17 $CADJPY (D) is trading in Cup & Handle Pattern. Entry above breakout level: 88.914, Handle Low: 85.415, 41.92% below breakout level. T1: 94.07 to 95.47 T2: 99.51 to 102.43 www.surinotes.com
Chart Patterns & Algorithmic Trader (62) EURAUD ABC Bullish Pattern Reviewed in CPAT 10/30/17 $EURAUD (D) ABC Bullish Pattern Long Entry above 1.46382, Stop below 1.44199 (-0.02183), Target1 Zone: 1.5409 to 1.5678, Target2 Zone: 1.6453 to 1.7013 www.surinotes.com
Chart Patterns & Algorithmic Trader (63) EURGBP ABC Bullish Pattern Reviewed in CPAT 10/09/17 $EURGBP (D) ABC Bullish Pattern Long Entry above 0.88230, Stop below 0.87324 (-0.00906), Target1 Zone: 0.9347 to 0.9514, Target2 Zone: 0.9996 to 1.0344 www.surinotes.com
Chart Patterns & Algorithmic Trader (64) EURNZD ABC Bullish Pattern Reviewed in CPAT 10/16/17 $EURNZD (D) ABC Bullish Pattern Long Entry above 1.54442, Stop below 1.52339 (-0.02103), Target1 Zone: 1.6286 to 1.6572, Target2 Zone: 1.7396 to 1.7991 www.surinotes.com
Chart Patterns & Algorithmic Trader (65) GBPCAD Inv. H&S Pattern $GBPCAD (D) Inv. HS Pattern. Long entry above 1.67229, Stop below 1.65362 (0.01867), Target1 Zone: 1.7271 to 1.7420, Target2 Zone: 1.7850 to 1.8160 www.surinotes.com
Chart Patterns & Algorithmic Trader (66) GBPJPY Rectangle Channel Pattern Reviewed in CPAT 09/25/17 GBPJPY is trading in Rectangle Channel pattern. Channel upside breakout is at 148.447. www.surinotes.com
Chart Patterns & Algorithmic Trader (67) USDCAD Inv. H&S Pattern $USDCAD (D) Inv. HS Pattern. Long entry above 1.25976, Stop below 1.25149 (0.00828), Target1 Zone: 1.2929 to 1.3019, Target2 Zone: 1.3279 to 1.3467 www.surinotes.com
Chart Patterns & Algorithmic Trader (68) USDJPY ABC Bullish Pattern $USDJPY (W) ABC Bullish Pattern Long Entry above 110.290, Stop below 107.311 (-2.979), Target1 Zone: 119.53 to 122.85, Target2 Zone: 132.42 to 139.34 www.surinotes.com
Key Support/Resistance, Pivots
Chart Patterns & Algorithmic Trader ES Fib. Zone Pivots (70) @ES Fib. Zone Pivots www.surinotes.com
Chart Patterns & Algorithmic Trader (71) NQ Fib. Zone Pivots NQ Fib. Zone Pivots www.surinotes.com
Chart Patterns & Algorithmic Trader (72) QM Fib. Zone Pivots QM Fib. Zone Pivots www.surinotes.com
Chart Patterns & Algorithmic Trader (73) GC Fib. Zone Pivots @GC Fib. Zone Pivots www.surinotes.com
Chart Patterns & Algorithmic Trader YM Fib. Zone Pivots (74) YM Fib. Zone Pivots www.surinotes.com
GAP Charts Shows filled and unfilled gap levels
Chart Patterns & Algorithmic Trader @ES Gap Chart (76) @ES Gap chart with filled and unfilled Gaps with at least 1 ATR Gap. www.surinotes.com
Chart Patterns & Algorithmic Trader @NQ Gap Chart (77) @NQ Gap chart with filled and unfilled Gaps with at least 1 ATR Gap. www.surinotes.com
Chart Patterns & Algorithmic Trader YM Gap Chart (78) @YM Gap chart with filled and unfilled Gaps with at least 1 ATR Gap. www.surinotes.com
Earnings Companies releasing earnings in the next few weeks.
November Earnings Calendar
December Earnings Calendar
Chart Patterns & Algorithmic Trader (82) FIVE ABC Bullish Pattern $FIVE (W) ABC Bullish Pattern Long Entry above 38.41, Stop below 35.02 (-3.39), Target1 Zone: 50.9 to 55.3, Target2 Zone: 67.7 to 76.7 www.surinotes.com
Chart Patterns & Algorithmic Trader (83) ULTA Parabolic Arc Pattern Reviewed in CPAT 09/18/17 $ULTA (W) is trading in Parabolic Arc from 07/17/2009 (low: 7.90) to 06/09/2017 (high: 314.86). Parabolic Arc patterns are long-term patterns and most of the upside parabolic patterns return to at least 50-62% of its prior rise in a correction mode. ULTA Short entry is below $265. ULTA Targets: $198, $161, $73-124 www.surinotes.com
Chart Patterns & Algorithmic Trader (84) WDAY ABC Bullish Pattern $WDAY (W) ABC Bullish Pattern Long Entry above 69.44, Stop below 65.78 (-3.66), Target1 Zone: 94.2 to 102.0, Target2 Zone: 124.2 to 140.4 www.surinotes.com
Chart Patterns & Algorithmic Trader (85) PVH ABC Bullish Pattern $PVH (W) ABC Bullish Pattern Long Entry above 93.98, Stop below 84.52 (-9.46), Target1 Zone: 116.2 to 124.8, Target2 Zone: 149.6 to 167.5 www.surinotes.com
Chart Patterns & Algorithmic Trader (86) TIF Rectangle Channel TIF (Daily, Earnings: 11/29/17) is trading in Rectangle Channel. www.surinotes.com
Chart Patterns & Algorithmic Trader (87) ADSK Ascending Triangle Pattern Reviewed in CPAT 10/16/17 ADSK (Earnings: 11/28/17) is trading in Ascending Triangle. Breakout level $115.24. Upside targets: $125-127, $130. www.surinotes.com
Chart Patterns & Algorithmic Trader (88) NUAN AB=CD Pattern NUAN (Earnings: 11/28) is forming AB=CD Pattern. AB=CD patterns usually complete between 100-127% of AB leg. www.surinotes.com
Chart Patterns & Algorithmic Trader (89) VMW AB=CD Pattern VMW (Weekly, Earnings: 11/23) is trading in AB=CD bullish pattern. www.surinotes.com
Chart Patterns & Algorithmic Trader (90) CRM ABC Bullish Pattern Reviewed in CPAT 10/23/17 $CRM (W) ABC Bullish Pattern Long Entry above 73.71, Stop below 66.42 (-7.29), Target1 Zone: 86.1 to 91.5, Target2 Zone: 106.9 to 118.1 www.surinotes.com
Chart Patterns & Algorithmic Trader (91) HPQ Cup & Handle Pattern $HPQ (D, Earnings: 11/21/17) is trading in Cup & Handle Pattern. Entry above breakout level: 19.58, Handle Low: 18.31, 51.21% below breakout level. T1: 21.1 to 21.5 T2: 22.7 to 23.6 www.surinotes.com
Chart Patterns & Algorithmic Trader (92) INTU Cup & Handle Pattern $INTU (D) is trading in Cup & Handle Pattern. Entry above breakout level: 143.81, Handle Low: 140.16, 26.94% below breakout level. T1: 152.2 to 154.5 T2: 161.0 to 165.8 www.surinotes.com
Chart Patterns & Algorithmic Trader (93) SLV Inv. H&S Pattern Reviewed in CPAT 11/06/17 $SLV (D) Inv. HS Pattern. Long entry above 16.80, Stop below 16.11 (0.69), Target1 Zone: 18.3 to 18.7, Target2 Zone: 19.8 to 20.6 www.surinotes.com
Weekly Relative Performances
Sector & Indexes Relative Performances Winners: Airlines, Banking, BioTech Losers: Defense, Oil, Energy
Dow 30 Weekly Relative Performance
Select Sectors Weekly Performance
Country ETFs Weekly Performance
Commodity ETFs Weekly Performance
Watch Lists Momentum Relative Strength Bullish/Bearish Lists NH/NL Oversold/Overbought Key Retracements
Relative Strength Ranks (200)
RS Ranks Sorted (Alpha)
Bullish/Bearish List
52 Week Highs and Lows
D%, W%, M%, YTD%
Algorithmic Trading Algo. Techniques Algo. Reports Current Algorithms ALL RETURNS POSTED ON THIS PUBLICATION ARE HYPOTHETICAL PERFORMANCE GENERATED BY COMPUTERIZED SYSTEM AND THEY ARE NOT ACTUAL TRADE REPORTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Trading ABC Bearish Patterns by Suri Duddella Symmetry, Harmonics and Patterns Harmonic trading is based on the premise that patterns repeat themselves and the symmetry can be exploited to define the geometric and harmonic relationships between price and time-swings using Fibonacci ratios. Harmonic price movements produce symmetric rallies and decline to give traders an advantage to determine the key turning points (pivots) and well defined and repeatable chart patterns. One of the simplest and most universal chart patterns is ABC Chart pattern. Please see "Trading ABC Chart patterns" with a bullish ABC pattern example in December 2016 Modern Trader magazine. Here I will discuss ABC Bearish chart pattern with a recent example. The ABC Chart pattern and its related AB=CD Chart Pattern are prime examples of "Symmetry" in the markets. These "Harmonic" patterns help traders to identify buying and selling opportunities in all markets and in all time-frames. The ABC and AB=CD patterns are first described by H.M. Gartley in his book "Profits in the Stock Market." (1935). The main advantages of trading harmonic patterns are that they allow traders to determine risk vs. reward ratios beforehand as they forecast key market turning points and profit targets for traders. In this article, I will describe how to trade 'ABC' chart patterns. The ABC pattern (can be a continuous or reversal pattern) and it is shaped like a lightning bolt. Identification The key point in identifying an ABC and AB=CD patterns is to correctly detect the A, B, and C key inflection (Pivot) points in a chart while they are forming. These inflection points are determined from key swing highs and lows of various levels, and for its correction waves to determine distinct "swings." The potential C point is usually forecasted by the fib. retracements (0.38 to 0.618) of AB Swing. Once A, B, and C points (and AB, BC legs) are identified, a projection algorithm is applied to compute the Potential Completion Zone (PCZ). This PCZ area is where ABC pattern is expected to complete and may signal continuation of its trend in the first trend direction (AB). Following the completion of BC leg, the projections of AB and BC legs (using fib. ratios) are plotted (from C) to generate targets. The ABC pattern is traded in the trend direction of AB from C to D. Conditions: The swing legs (AB and BC) in ABC pattern are generally in symmetrical proportions both in price and time with consistent slopes. The tradable CD leg has a harmonic relation with symmetry for AB and BC swings. The ABC bullish structures are formed after a prolong prior down trend or consolidation trends, whereas bearish ABC patterns are formed after a prior uptrend. Pattern Detection A Pattern Completion Zone (PCZ) is computed using AB swing and Fibonacci ratios (50-88.6% of AB). This PCZ area is where 'C' pivot is formed at the end of BC swing and to signal completion of ABC pattern. Trade Entry: After ABC pattern is completed, it is advisable to wait for the pattern to confirm a reversal signal using any momentum based indicator or price confirmation mechanisms. I use various confirmation and trade entry methods, but one of the methods is price crossing 2-bar high after 'C' in ABC Bullish pattern or a 2-bar low after 'C' in ABC bearish pattern.
Stop: A Stop is placed few ticks below C (in Bullish) or few ticks above C (in Bearish) levels. Targets: The ABC Pattern targets are computed using the AB and BC swings. The height pattern (AB) is used to project target levels from C-level using fib. ratios. The first target zone is (62-79% AB) from 'C' and second target zone is (127-162% AB). A secondary target level is set at 100% AB Level at 152.21. Key Ideas to Remember: The Fibonacci relationships help and give ideas an approximate area (PCZ) where the pattern may complete. Precise ratio levels for reversals or targets in patterns are very rare and a tolerance ratio of +/- 2% is added for the fib. ratios. Pattern confluences with other patterns, support/resistance areas, MAs and other market context elements must be used to identify and validate the pattern structure. Example: The following example shows the auto-generated ABC Bearish pattern in current Live Cattle futures (LC) daily chart. After a steep rise in LC futures from February to May of 2017, prices may have formed a top as it builds an ABC Bearish pattern. Here are few key points on how it is traded. ● LC was in a steep uptrend from Feb. '17 to May '17. ● In May 2017, LC formed its first leg (AB) as the prices declined (in 8-sessions) from 130.800 to 116.825. ● From mid-May to June, LC attempted to rally back and formed its second leg (BC) from 116.825 to 127.650. ● In June 1st week, prices reversed again from "C" as LC prices started to fall in the same direction as AB leg. ● "C" pivot retracement of 77.46% completes ABC Bearish pattern. ● A Short-entry was triggered as price closed below Entry 123.725 with a Stop 127.65. ● The first target range is set at 116.60-119.025 and second target range is set at 105 to 109.9 (127%162%).
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PlatoAlgo. Performance Report (11/17/17) Short/Medium Term, Not for Sale or Lease.
Monty Algo. Performance (11/17/2017) Long Term, NOT for Lease or Sale
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Poster 24” x 36” (100 lb. Gloss Paper) 30 illustrated patterns with Entries, Stops and Targets Pattern Conditions & Trading Rules $19.95 (FREE Shipping in the US) suriNotes.com PATTERNS | PRODUCTS | RESEARCH | BLOG Please send comments and suggestions to suriNotes@gmail.com
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