High Tight Flags for Tuesday
Most of these are in a holding pattern, waiting to breakout or breakdown. $TSL is a new addition.
The symbols are linked to Stockcharts….
2 Responses to High Tight Flags for Tuesday
Hey Woodshedder,
I’ve spent some time reading about HTF pattern over at Bulkowski’s site, but he’s a bit vague about the sell rule. After a breakout, where is the sell point? Is there a stop? An upward target?
Thanks,
Alex
Alex, yes, you have uncovered the same issue as I, which is, when to sell?
As with any system, it doesn’t matter how good the entry setup is if there is not a good sell signal with which to pair it.
One of the reasons I set out to backtest HTFs was to try and determine a sell signal, be it time, avg. % gain, etc. Unfortunately I was not able to see the backtesting through to fruition.
So I don’t know, honestly. I think something like taking profits around 20%, or selling half at that level and letting the other half run, makes some sense. I’m not sure how far you’d let the other half run.
As for stops, assuming the trade went into the green, I would use a stop beneath the breakout point.
I would love to test all this. Perhaps someone who is better with Amibroker will reach out to me and help with the code.
