Rectangle Chart Patterns – December 2017 Tech Charts Webinar
- Rectangle is a reliable chart pattern with horizontal boundaries.
- Breakouts from chart patterns with horizontal boundaries are more reliable when compared with breakouts from diagonal boundaries
- 5 important technical points when identifying rectangle chart patterns
- Importance of several tests of chart pattern boundary before a breakout takes place
- The broader context of price action and where the rectangle chart pattern forms
- Rectangle as a launching pattern
- Long-term chart patterns will launch strong uptrends
- Breakout above more than one technical resistance is significant
- Review of all rectangle chart pattern breakouts between May 2017 and December 2017
- Developing rectangle chart patterns; a review of watchlist candidates
- Member charts, analysis of Tech Charts members charts
- Q&A
- Any thoughts on gold? 48:01
- Comments on general questions from members 48:59
- What charting platform do you use or recommend for Canada? 51:07
- Profit target / exit strategy: any views on the most profitable as 1/ exit 2/ half exit, half keep in trade 3/ trailing stop? 52:22
- Broker to trade international stock from Canada? 53:48 (Member reply 58:30)
- Could you please explain how you proceed to look at a chart? For a beginner, it's often we don't know where to start when looking at a chart. 54:02
- Do you use any indicators to support the breakout or avoid fake breakouts like rsi macd etc? 57:20
- I am using CMC Markets which is a free platform. How does this compare with Metastock? 58:54
- Would you consider an initial trade at the lower boundary of a rect. after it has been tested 3-4 times and held? 1:00:18
- Re entry on a pattern failure, are there any parameters you have? 1:01:36
- Can you discuss how you calculate the Negation Point? Do you still keep the stock that triggers the Negation Levels / Point in your watch list? 1:01:36
- What do you think is the success rate of the weekly rectangle in % (like 60 or 70%)? 1:04:34
- Do you keep statistic of triggered breakouts that failed vs successful ones that you posted in a member section? I mean a ratio between them. 1:06:25
- Could you talk a little on the Bitcoin chart. 1:07:39
INTERIM UPDATE – December 21, 2017
Vale S.A. is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt. The stock is listed on the Sao Paulo Stock Exchange. It is also listed on the New York Stock Exchange via depository receipts. This interim update features both the Sao Paulo Stock Exchange and NYSE listing.
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GLOBAL EQUITY MARKETS – December 16, 2017
REVIEW
Global Equity Markets continue to remain in a steady uptrend with the iShares MSCI All Country World Index ETF trending higher in a year-long trend channel. The ETF is also holding above the steep 19 month-long trend line. At this point, there is no clear chart pattern that would suggest a top reversal. Uptrend is intact with the minor support standing at 69.4 levels.
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