Candlestick Patterns – Dark Cloud Cover
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Daily Market Structure & Price Action Study – 2
Week 2 of 4 while I'm away from home… From the original post: I've been writing online for over a decade now. And for that whole time I've been promoting the idea of daily study in both Market Structure and Price Action. It's a simple task that takes no more than five minutes, but…
A Common Indicator Mistake
I love it when I read forum entries from people suggesting trading strategies along the lines of: Enter long when the RSI(14) is above 50, the stochastic (14,5,3) has crossed positive, and the Williams %R(14) is rising from the oversold area Enter short when the RSI(14) is below 50, the stochastic (14,5,3) has crossed negative,…
Entering A Breakout Before The Breakout
A couple of years ago I produced a short video titled, “How I Trade Breakouts” (edit: no longer online… but not necessary for this article). In that video I discussed the fact that I don’t like to trade breakouts. My preference is to trade the first pullback following the breakout. That’s self-explanatory. As an alternative…
Recognise the Current Conditions. And Adapt.
I'm displaying charts without any trade markers here, so that you can focus on the price action without any distraction. Because there is a very important fact that not everyone gets. And rarely is it displayed in such a simple and obvious manner, as it is with the two charts we'll discuss today. That…
Real Traders Use Candlesticks… or do they?
Here’s an interesting observation – over the last week I’ve received half a dozen emails asking why I don’t use candlesticks. While that’s fairly understandable, given the current series of price bar reversal videos, it led me to thinking that there’s probably a lot more people who are thinking the same thing but hadn’t bothered…
The Double Failure Pattern
Let's continue one of the secondary themes from last weeks article: "Trade against those who attempt to fight the market bias, aiming to enter at or before the point of their trade failure, to profit from their exit orderflow." One way I love to see this set up is via a double failure pattern. This…