Chapter
3 Definitions,
Structures,
&
Examples
Profiting with Chart Patterns
3-16
nirvanasystems.com
Saucer Pattern: Newfield Exploration.
This saucer is better formed than the prior one. You can
see that we ran up to about
$41 and started turning down at successively lower highs. We then broke through
support at about $37 on a strong bar. You can see momentum
picking up at the end
of the saucer. We would have carried it all the way down to about $25, which is a
whopping 32% move in a very short period of time.
Figure 3-15.
Saucer Pattern Shown on the Chart
for Newfield Exploration