The money maker "M": A chart pattern I believe in.

As a trend trader I am always looking at markets that well... trend. This means that I study trending markets and parabolic runs extensively. Here is one pattern that I see time and time again. I call it the "MONEY MAKER M" it could be more realistically called the Market Maker M. Essentially on any timeframe on any chart if a porportionate series of higher highs and higher lows present themself after consolidation .. then be prepared for an immediate parabolic move. I am sure there are many reasons for this and that there are other acclaimed explanations for this pattern. Yet, in scanning charts everytime i see this i immediately expect it to be a long with low risk and high reward possibility.

Commentaire:

pattern is only invalidated with trading action below previous low... so $17 or so.