Candlestick Patterns – Evening Star
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Feel the Emotion. Don’t Just See Price.
Here’s a concept that is simple and repeatable. I shared this post on social media just before the open on Monday: And then this post on Tuesday, after the markets were kind enough to offer us a brilliant example of the concept in action: As I said at the start – it’s simple. And repeatable….
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,…
Fast Trend Shallow Pullback
Expectations should change with a change in environment. In a slow, wide-swinging trend, your better off waiting for a deep pullback. Don't be too quick to enter. But in a fast trend, if you hesitate you may just miss the entry. Here's two fast-trend shallow pullback entry examples. There's no waiting for a 38.2% retracement…
Long is Wrong – 4
It’s been almost a year since we last discussed the “Long is Wrong” scenario. And throughout this time it continues to be one of my favourite market openings. Essentially a PB or BPB setup, occurring in a particular place on the charts where a WHOLE LOT of traders find themselves on the wrong side of…
Self-deception – According to Kierkegaard – Part 2
I came across a great quote a week ago, which led to to part one of this short article series: https://yourtradingcoach.com/trading-process-and-strategy/self-deception-according-to-kierkegaard-part-1/ The quote: “There are two ways to be fooled: One is to believe what isn’t so; the other is to refuse to believe what is so.” …Søren Kierkegaard There are countless ways these two forms…
Repetitio Est Mater Studiorum
Monday provided a beautiful example in the NQ daily chart of an overextended market pausing with a narrow-range inside day. Volatility contraction! A place of opportunity for those who’ve seen it before and who’ll be ready to react. And a place of learning for those who are new to this game. So I sent out…