![]() Big range (50-100% to major resistance).PRO TIP: Here’s the checklist I use to find these monsters: I use Dilution Tracker to gauge offering risk. In penny stocks, breakouts are often accompanied by dilution which for the most part, destroys the momentum. Enter long on a break above resistance or short on a break below support. This is also excellent for swing trades.Ī rocket is when the stock price moves outside a defined support and resistance level with increased volume. Continuation) chart pattern:Ī pennant will have a period of consolidation inside the triangular flag shape on lower volume followed by a breakout, outside the triangular pattern, on higher volume. The fishhook pattern emerges on a sharp downward move in the stock price through support on heavy volume and tends to be quick in duration and severe in magnitude. To better understand Japanese candlestick patterns I recommend The Candlestick Course.įishhook (a.k.a. ![]() The way I visualize this is in breakdowns, continuation patterns (bull flag / pennant), and breakouts.īreakdowns and breakouts are my favorites because they present the most volatility and range in both directions. ![]()
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