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perkybets

New member
This is a pretty common setup but I'm not sure which TOS scan to use to find this potential set up through the morning.

I'm looking at a 5-minute chart. The image attached shows more detail. Price eventually doesn't make a new high on the next candle. Once that happens we are looking for consolidation candles of 3 or more without the price pulling back percentage X. This should alert me of stocks with this pattern.

Here are the rules.
1. Stock must have gapped up or down at least 1% from previous days close.
2. It doesn't take into account pre or post-market activity.
3. Many can consider this a bull or bear flag type of setup.
4. We are however looking for tight consolidation without too much pullback.

5 Minute Chart of PAGS

I'd appreciate anyone's input on this.

Thanks,
Perky
 

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