Candlestick Patterns – Candlestick Sentiment
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Breaks Against Bias – Their Failure is My Success
We've previously discussed the idea of fading breaks which occur against the market bias. Often they're a trap! If we can anticipate that trap then we can position ourselves for a successful trade by entering at or before the point of their failure. See here if you missed the prior articles on this concept:…
Who Will Give Up First?
Last weeks newsletter article (“The Most Important Question You Can Ask”) generated quite possibly the second largest email workload ever (behind the 4-day backlog generated by “6.18 Reasons Why Fibonacci is an Illusion”). The feedback was all incredibly positive and supportive of my efforts with the YTC site. Thanks to all who responded. It’s greatly appreciated….
Spring the Trap
I'm not a pattern trader. I look at the internal strength and weakness within the price movement; seeking opportunity at places of traps or weakness against the bias. But there are some patterns that are based around similar concepts, such as the Wyckoff Spring and Upthrust. If you trade patterns, these are two which…
Losses Are Information
Losses are not something to fear. They provide valuable information – either your bias was wrong or your timing was out. The chart below shows the 30 min 6B chart (GBP/USD equivalent) prior to the UK session yesterday 8th July 2010.