Ascending Triangles - Gotta love 'em!

[Melf Elf]

Melf - did you sell your targets on CNXT?? 

Scotsman,

Yes, I sold at the targets, at the open.

You got em to the penny - nice work!!!  Got beaten down some after that - looks like that 3.60 breakout won't come quite just yet!!!

Thanks.  Yeah, 3.59 was the high on the day.  It closed at 3.45.  "Sell when targets get MADE" sure worked today, eh?

wrangler and setravis,

Thanks very much for the kind words. 

[ScottishTrader]

Right, I bought GBN on Friday, a little higher than I would have liked at 2.12, but it just kept wanting to go higher and closed almost at the HOD - such a nice chart on this one!!

Was wondering if anyone has any thoughts about price targets - the technical target of the AT looks to be 2.40, which is what I may aim for.

Am gonna do a bit of DD on this one over the weekend to see if I can figure out whats driving this.

Oh, and applauds to Fous who was the one who identified this AT and caught the breakout perfectly

[Lucas Scott]

aero,

You might want to print this out:

Step 1. Get whatever chart you want to post on your computer screen, where you can see it.  You're going to "take a picture of it" in Step 2...............

Melf - there is a quicker and easier way to do it. I used to do it that way the first month I was here. New step by step:

1. Right-click on your chart
2. Select "Save Picture As"
3. Enter a file name and .PNG as file type....etc etc you know the rest

You don't need to print screen or use the Paint accessory. A nice thing about doing it this way besides the time savings is it produces a cleaner picture -- just your chart instead of everything that is visible on your screen (applications open in the taskbar, the Internet Explorer toolbar, etc.)

[Minimunch]

To Wrangler about VTSS.
It didn't make the break last week, but isn't the ascending triangle still in play? Take a look at this chart here:

http://server3.pictiger.com/img/195784/picture-hosting/vtss-01--04-2006.php

Positive: the volume has been higher than normal in the latest ascending period.
Negative: the volume has been dropping off during the latest ascending period.

One very positive thing in this fridays trade was the drop to the buttom of the short trendchannel and the bounce from there. To me this indicates, that the triangle is still in play. Nothing is decided yet. A break of 3,8 under heavy volume would be optimal. On the other hand would a dropout of the short trend channel under heavy volume have me out of this issue.

Best regards Minimunch

[Quasi]

UMC is breaking out of the ascending triangle.

Hi Akclide

Newbie member here, only been reading SOF3 posts for total of about 3 hours. Been getting pretty quiet over on the Stockhouse TA board, so been looking for a new active TA hangout.  The site has been great today, got alot of reading done, great posts and analysis.  Was a little concerned the first time I logged on during the week as the site was terribly slow, I guess this site is just too popular.

Anyway saw your comments on UMC and thought I would add some data.   Also try my hand at my first post here, posting totally different than what I've been used to, hope I can get the charts up first time.

Been watching UMC and big brother TSM for a while.  Used to own TSM.  Not sure of what to make of UMC right now, agree its starting to look interesting.  Long term on the weekly chart I see lots of churn recently, I like the MA compression and indicators starting to look promising  but my gut just says wait, not quite confirmed yet.

On the shorter term 6 month daily, again I agree with you something is up, just not sure what, indicators again looking interesting but vol confirmation not really there when I expect it to be.  Also not sure what to make of the pattern, breakout of ascending triangle ?? needs volume to confirm.  Top of moderate uptrend channel ??.  Breakout from descending triangle, needs vol to confirm.   I feel more like its at the top of a rising wedge at least in the short term, just what my gut and the vol action is telling me right now. 

Still watching closely, but cash sitting on the sidelines on this one for now, what do you guys think.

happy trading / investing
Quasi

[beroznikmal]

Minimunch,
I agree with what u had sad in regards to VTSS. I am still in and the chart I drew was identical to urs. Good job. Wrangler, what do you think?
Cheers,
'B

[Melf Elf]

Was wondering if anyone has any thoughts about price targets - the technical target of the AT looks to be 2.40, which is what I may aim for.

Scotsman,

On GBN I get:

1.97 (top of triangle) - 1.50 (low of triangle) = 0.47 points

0.47 added back to the top of the triangle at 1.97 = Target: 2.44 IN PLAY.

1. Right-click on your chart
2. Select "Save Picture As"
3. Enter a file name and .PNG as file type....etc etc you know the rest

Luke,

No luck with that.  When I right click on a Metastock chart, "Save Picture As" isn't an option.  If I use File on the toolbar, I only get Metastock options:  "Save As Template"..."Save As Smart Chart."

Maybe your way works for you because you're posting charts off the internet?   

Anyway, thanks for trying to help.  Applause.

Newbie member here, only been reading SOF3 posts for total of about 3 hours. Been getting pretty quiet over on the Stockhouse TA board, so been looking for a new active TA hangout.

Quasi,

Welcome to 3SOF!  Applause for your nice chart and analysis.

[Quasi]

1. Right-click on your chart
2. Select "Save Picture As"
3. Enter a file name and .PNG as file type....etc etc you know the rest

Luke,

No luck with that. .....
Maybe your way works for you because you're posting charts off the internet?   

Hi Melf, Luke and Aero

I know this is not TA or ascending triangle stuff, but its Sunday here and thought I would share my experience and a tip on the best way of saving screen shots I've found to date.  So really it's not that far off topic as we all want to see lots of charts and annotations posted here, if it's easier more people will do it.

RE images/screen shots, yes it's easiest to grab images off the web because you are looking at a HTML coded page with your browser.  Its already a whole bunch of separate images and text, the browser just displays them all together nicely.  But it does allow you to easily grab a separate image, I find Netscape or Firefox do it best just right click and select view or save as file, IE is a little more combersome and one reason I don't use it.

With respect to the MetaStocks program, ya its not HTML and thus no separate file of the image, the whole screen is the output of the program.  So screenshot is your only choice, but try out the following I think you will like it.

Over the last few years I have had to use various printscreen options to post charts to boards.  Been thru all the windows versions etc etc.  I then came across a little free shareware program called Gadwin Printscreen and I've stopped looking for anything better.  It has lots of options for configuration, simple, user friendly and it does it all in a way that just works great for the job of posting screenshots.

Direct link to the Gadwin info and download page  http://www.gadwin.com/printscreen/

- launches with a user selectable hot key
- allows you to preview image before writing the file, just in case it's not exactly what you want, cancel and grab it again, no wasted time
- user selectable capture area, I always use the rectangular area option, you just click and drag out a box of what you want, also pops up a little zoom window so you can get the corners just exactly where you want them.  (wouldn't let me screen shot the zoom window so just trust me on this one, great feature)
- gives you the option to specify where to save the file and give it a custom file name as you save it.   Just set up a folder on your desktop or where ever, mine is "Printscreen Files", then select that folder in the setup screen.  (Folder has to be set up before you go to the configuration screen, as it won't let you create new folders there, its just a simple but powerful little program)
- last option is to set the type of output file, I used to use jpeg or gif's but use png as most people can read them now and it gives a good quality image for the file size.  You can also specify it to resize the output on save to whatever you want, I don't normally use that option.

Hope you try it, I know you will like it.  If you have something better let me know.

I just put together a quick overview of all the setup screens showing my settings which will help you get started if you give it a try,  won't post them here to save space, if you're interested see   http://frontenacdesign.com/ta/printscreen/prtscrn.htm

thanks
Quasi

[Terliso]

I want to add some Ascending Triangle on this thread.. here you go

** IIP **

[wrangler]

VTSS : breakout of ascending triangle confirmed . I have two charts posted one is daily and other is muti-year

up in pre-market. had some excellant news out this morniong

Press Release Source: Vitesse

Freescale Semiconductor Selects Vitesse Gigabit Ethernet Switches to Power New Office-in-a-Box Platform
Monday April 3, 8:01 am ET 
Gigabit Ethernet Architecture Reduces Cost and Complexity for Emerging SMB Market

CAMARILLO, Calif.--(BUSINESS WIRE)--April 3, 2006--Vitesse Semiconductor Corp. (Nasdaq:VTSS - News), the market leader in Gigabit Ethernet ICs, today announced that the company's SparX Gigabit Ethernet switch technology has been selected by Freescale Semiconductor (NYSE:FSL - News; NYSE:FSL.B - News) to power their new Office-in-a-Box small-to-medium business networking platform based on the company's proven ability to deliver unmatched integration and lowest power for the cost-sensitive SMB market. Vitesse's SparX family of Gigabit Ethernet switches provides unprecedented level of integration at a fraction of power versus competitive solutions, allowing OEMs and ODMs to deliver the highest performing products cost-effectively.

[bocasva]

Question:

TGC hit the target of an AT this morning at 1.38.  Metro also sez a cup-and-handle pattern formation target of around 1.50
You guys think we might hit the 1.50 target or will it retrace back from the AT target and then make a second run?

[wrangler]

hi bocasva
I did a muti-year TA of TGC for you. This stock really looks good for a long term outlook and probably short term but if you look at the chart patterns that has simular patterns there was a pull back for a little bit but note also that there is no resistance from where it is now at on the multi-year chart , that could mean a long uptrend is happening  and support is way down from current price. If you were to enter be sure to put trailing stop loss or use you're own stop loss to keep risk low since it shows no resistance.
Hope this helps you with what you was needing
Goodluck trading

[bocasva]

Wrangler,  I sincerely appreciate you taking the time to shine some light on TGC for me.  Thank you.

[Terliso]

Breakout from Ascending Triangle.. 0.99 resistance has taken out

[Terliso]

IIP