M and W Patterns

You hear me talk about the W and M pattern almost everyday...this is not the best illustration but will do for now. Note: When the number 4 point is higher than the number 2 point it's a lower risk pattern. Some call these patterns 1, 2, 3 Bottoms. If it looks like a W and acts like a W it must be a W...look for the opportunity to use a trailing stop.

Check out the chart: http://www.simple-as-123.net/charts/April28-05WPattern.gif

Marsh

Thought for the day...

Don't forget it's much harder if you don't know what you're doing...