Google Stock Quote

The stock made an impressive move on Friday. It looks like the stock is ready to make another run up.

The daily chart recently showed a couple inside bars. Thursday’s inside bar lead to a long entry above Wednesday’s high. Trader’s who entered using this technique would typically place a protective sell stop order below Wednesday’s low.

GOOG daily chart

The great thing about the recent inside bar signal is that open profits have already equaled the initial risk. Trader’s who plan on trading for the long haul will have moved the protective sell stop to breakeven.

Looking at the smaller 30 minute time frame charts show GOOG forming a triangle with a break to the upside.

What’s most interesting about this pattern is that the stock came back and testing the descending trendline before making Friday’s big move. This is the type of price action to watch for.

30 minute chart

P.S. - Here’s the software that creates these type of charts.