Fish Hook Chart Pattern

Yes it s clearly a fish hook pattern.

Fish hook chart pattern. Check out the picture below that demonstrates the basic idea of the fish hook trading pattern. Size 06 04 02 01 small 15 14 13 12 economy 34 32 30 28. Bend the bend is exactly like it sounds.

Here s a look at the daily chart on pti from finviz. Leave the drag on and fish hook themselves. A fishhook formation is named because of the shape of the indicator as it forms in the chart.

I call this chart pattern the fish hook pattern. Ideal for surfcasting and deep water fishing they will catch fish for the kids too. That in mind the pattern is pinned due to outlook for example the bear flag pattern may be in the cards here.

3 the stock holds at the support level and catches a bid. Did these traders get the pattern right. 2 the stock finds an area where it has a hard time breaking below.

Eye the eye is where you attach your fishing line or leader to. But remember we like to pair the chart pattern with catalysts and an area of value. With the fish hook pattern there are a few things we re looking for.

It is the. However pti actually released data regarding one of the treatments in its pipeline on march 25 which is where you see the big gap down. Shank the shank is the longest part of the hook liken it to your femur bone and provides much of the strength and.

This is one of the most reliable chart patterns you will find. Fishhook formations occur in first derivative indicators like a price oscillator or summation index. They are important to us when they occur because the represent a moment of turmoil and potentially of great energy about to be unleashed.

1 a steep drop in price. Here s a look at the daily chart on tsla. The recurve design ensures most fish are hooked in the corner of the mouth.