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Pipe Bottoms
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Pipe Bottoms

  #41 (permalink)
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GridKing: Thanks for the input and the links. I read the Bulkowski article today. I have also been using Bulkowski's free software program "Patternz" I'm just trying to figure out a way to build it into my system. I am also using Amibroker and toying around with the idea of writing a scan for pipe bottoms.

madLyfe: I'm sorry! I take it all back! Please don't change the picture back!

Placebo: Do I know you from another forum? And yes, I think Bulkowski was experimenting with reversals when he hit upon the idea of Pipe Bottoms. They are basically reversals with nothing between them. Thanks for your comments.

Instead of trying to catch up with individual charts, I put together a trade log that I will update. I will post charts of interest when possible.

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  #42 (permalink)
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Here is an interesting look at the S&P 500 from a pipe bottoms perespective.

On a weekly chart, the S&P shows a nice pipe bottom set up on Nov 25, 2011 and Dec 2, 2011. The high of Dec 2 is the buy trigger. On Dec 23, the market closed above the trigger line. The buy at market order would have placed for Tuesday, Dec 27, 2011 (Monday was a holiday).

Assuming a fill on the open at 1265.02, this trade would still be active with Friday's close at 1361.23 representing a 96.21 point Gain.

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  #43 (permalink)
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I'm Back


Sorry for the long break.

I got very busy preparing to defend my dissertation and then actually defending it.

Once that was completed I had to prepare and print two copies of it for deposit into the University library.

Anyway, I once again can breathe.

Interesting that there are no pipe bottoms this week.

There are, however, four pipe tops.

HURC
NVDA
OXM
POL

I wonder if that has any significance for what is coming up in the general markets.

Don

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  #45 (permalink)
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DonStar View Post
Sorry for the long break.

I got very busy preparing to defend my dissertation and then actually defending it.

Once that was completed I had to prepare and print two copies of it for deposit into the University library.

Anyway, I once again can breathe.

Interesting that there are no pipe bottoms this week.

There are, however, four pipe tops.

HURC
NVDA
OXM
POL

I wonder if that has any significance for what is coming up in the general markets.

Don

Congratulations on your becoming edumencated ... just don't start showin off usin big words and spellin stuff correctly ...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #46 (permalink)
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Thanks guys. The good news is that I still don't know any big words.

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  #47 (permalink)
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Here is a chart of the 1st of 4 pipetop formations identified this week.

The red horizontal line is the trigger line.

Since HURC closed below the trigger line this stock is a sell on the open Monday.

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Pipe Bottoms-20120414_hurc.png  
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  #48 (permalink)
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Nice to see you again Don, This is a pipe top or whatever it's called on the top side of a 2000 tick TF chart today

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  #49 (permalink)
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Thanks Kbit. It's good to be back.

Yes, that is a very nice one!

I am noticing that it looks like when the 2nd pipe is in the direction you want to go (like you have a red candle on a pipe top) the results seem to be better.

Did you trade it?

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  #50 (permalink)
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Here is the chart for the 2nd stock identified this week as a pipe top.

Because it confirmed, the trade would have been entered at today's open.

Attached Thumbnails
Pipe Bottoms-20120416_nvda.png  

Last edited by DonStar; April 16th, 2012 at 10:10 PM. Reason: Updated attachment
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