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doubt about triple bottom breakouts

I am confused as it says pattern are updated after EOD at around (5.30 pm IST)....then in triple bottom when it says pattern observed on 8-12-2014 and breakout happened on 8-12-2014....what was the use of it because pattern was OBSERVED BY SCREENER after EOD 8th.....isn't the screener supposed to detect pattern for future..???
Posted by Guest Posted on : 08-Dec-2014


More details on the issue.
Posted by Admin
Posted on: 10-Dec-2014
Our screener filters pattern as long as it fulfills its criteria. Now there can be many scenario's

1. Pattern is first screened on Monday, but it may be still be valid on tue, wed . In such case we like to show last pattern observed data which is wed and not monday. If you trade based on this pattern and visit site regularly, then you will have chance to spot them early and make trading decision on Monda itself.
2. Pattern formed on Monday, but break out on Wed. Aggressive traders may benefit from it.
3. After break out on wed, it can retrace back to mid point and go up. Conservative traders can enter here.
4. Break out never happens and instead a sideways market begins. Aggressive traders loose.

aforementioned scenrios are not comprehensive list.

For novice traders, it is recommended to enter only after breakout. This gives maximum probability of your success.

Depending on kind of trader you are, you can trade from triple bottom and benefit from it..
Thanks
Site Admin

Posted by Guest
Posted on: 09-Dec-2014
Not necessary. Both can happen on same day. Prior to break out is for aggressive traders and post break out is for risk averse traders.
Hope it helps. Suggest u to read more on the pattern. Plenty of material on net.

Are you facing same issue. Please share on the urgency of the issue


(All analysis is based on End of Trade day's Value. Expected time of update is between 5 to 5.30 PM exchange time Zone)


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