David and Elite G,
I think it was one day last week that David explained the G Spot pattern very thoroughly. I meant to print it, bit I forgot . Now I can't even find it. I would really appreciate it, if you would let me know where I can find it.
On the same topic I would like your opinions as to whether OSCI has this pattern and if you think it might be a good trade here.
I can't tell you how much I appreciate this CLASSY website and the extensive TA knowledge so many of the members contribute. Keep up the good work.
Best regards and happy and successful trading to all.
Baltojohn
EliteG Infinite Compound Project
Page 3
Hi baltojohn,
I came up with the G pattern when I was studying explosive penny stocks of the past. This is what they had in common:
g1 stage: A big upwards volume move. Where volume stood out from the rest of the chart as price climbed strongly. (no exact numbers..this is a visual pattern)
g2 stage: A fallback of price and usually of volume that does not pierce the low of the start of G1.
g3 stage: broken into 2 parts
g3a: breakout is the break of the highest close or open, whichever is higher, of the
g1 stage. This needs to show heavy volume as well. Entry can be anywhere
on breakout day but I recommend the breakout point(g-spot, g-trigger)
g3b: after-breakout...the pattern on penny stocks generally runs a minimum of 100%
from breakout
for examples and more discussion check this thread out:
http://www.3stocksonfire.org/trading/index.php?topic=1374.30
Whizzledick and Elite, Thanks a lot!
Baltojohn
Quote from: eliteG on July 22, 2005, 11:49:35 AM
Hi baltojohn,
I came up with the G pattern when I was studying explosive penny stocks of the past. This is what they had in common:
g1 stage: A big upwards volume move. Where volume stood out from the rest of the chart as price climbed strongly. (no exact numbers..this is a visual pattern)
g2 stage: A fallback of price and usually of volume that does not pierce the low of the start of G1.
g3 stage: broken into 2 parts
g3a: breakout is the break of the highest close or open, whichever is higher, of the
g1 stage. This needs to show heavy volume as well. Entry can be anywhere
on breakout day but I recommend the breakout point(g-spot, g-trigger)
g3b: after-breakout...the pattern on penny stocks generally runs a minimum of 100%
from breakout
for examples and more discussion check this thread out:
http://www.3stocksonfire.org/trading/index.php?topic=1374.30
when time allows(probably after hours) can we do a play by play of an actual past g pattern stock. Like stock, dates of g1,g2,g3 stage and price levels to keep in mind to see that g1 is not violated. Also what exactly is the g point in stage 1, is it the higheest point of stage 1? Might want to add a g4 stage where is the point to sell. if too much work,let me know the stock symbol and i can try interpreting it. Thanks.
ELITEG and others,
I was wondering what you thought of CYOS? I think this stock may be forming the pattern you are talking about....any thoughts?
Thanks,
Calven
Quote from: calven on July 24, 2005, 12:29:10 AM
ELITEG and others,
I was wondering what you thought of CYOS? I think this stock may be forming the pattern you are talking about....any thoughts?
Thanks,
Calven
if it passes .065 it would look like a g-pattern I believe ;)
a picture is worth a thousand words...or was it many thousand dollars? :)
better picture...but I thought I would leave the last one too, to a chartist the more pictures the better :D ;)
There are 2 shares according to me currently in G pattern volume is above normal
WWAT stuck between 0.29 - 0.31 with < 1 mil volume...
GWGO stuck between 0.0012 - 0.0014 < 25 mil volume...
Any thoughts..........