American Express (AXP)
[pic]
                       Trade A
                       This chart shows you in  order  a  dynamite  triangle(Trade A) that breaks to the downside at Day1  but  closes  in  top  of  itsrange indicating the failure of the move. Had you entered coming out of  thetriangle which is an entry below the low of closest inside  bar  you  had  agood day trade. Day 2 gave you good entry above the triangle line  extended.Day 3 was good continuation entry and an excellent move. Entry was  121  3/4and it ran to a high of 125 1/4.
                       Dynamite Triangle Entry Guidelines
                         1.Enter below the low or  above  the  high  of  theclosest inside day (it doesn’t have to be a perfect inside day).                         2.If the triangle trend  line  extended  gives  youearlier entry, take it if the dynamics are good.
                       Trade B
                       After the upside breakout from the dynamite  trianglein Trade A, AXP ran to a high of 129 3/8 which was a  S3  swing  point  highand consolidated forming a symmetrical triangle which is shown by points  1,2, 3, and 4. They happen to be all S3 swing points.
                       Day 1 - AXP breaks above the swing point  trend  lineand also out of the symmetrical triangle. If the stock and  market  dynamicsare ok then you take the trade.
                       Day 2 - Good entry above Day 1  high,  small  profit,but stock closed in top of range.  Volume  not  exciting  yet.  Your  Day  3trading plan calls for entry 1/8 above Day 2 high.  This  would  also  be  agood entry for a position trade. Day 2 closed above its 10 and 50  day  EMA.Both these averages are above the 200 EMA and are rising. Day 2 also  closedabove the ST and in top of range and above the last  13  closes  and  highs.The S&P 500 index was also up in a favorable pattern and you  now  have  theperfect setup.
                       Day 3 - Home run. You get 127  5/8  entry  and  stockruns to a high of 133  5/8.  S&P  500  also  made  strong  up  move  so  thedynamics were good. Volume was big at 3,215,900 shares.
                       Day 4 - Inside day, no entry,  but  stock  closed  ontop of range ready for tomorrow.
                       Day 5 - Another gift BP2 day. Stocks at high  of  day4 which is 133 1/4 and you get entry at 133 3/8 and stock trades to  a  highof 138 1/2. The low  of  the  day  is  133  1/4.  BP1  and  BP2  are  strongindicators.
                       Day 6 - Good entry, 1 1/2 point run and end  of  thisthrust out of the symmetrical triangle.
                       Trade C                       AXP had rallied to a 144 high (2) which was a  narrowrange bar on strong volume of 2,727,800.  This  followed  a  WRB(x)  to  newhighs on 3,000,000 shares. This contraction of range on strong volume  is  asign that the supply/demand  equation  might  be  changing  and  a  possiblereversal in trend. The next four days  provided  continuation  entries  fromthe short side after breaking swing point trend  line  (see  point  4  to  Qbar).                       AXP bottoms at 121 7/8 at day 1  which  is  a  higherlow than Trade B. Once again we  get  our  dynamite  consolidation  and  AXPbreaks out for a good trade on Day 5. The rest is straight up to a new  highof 150 5/8 on 8/24.