Candlestick Patterns – Shooting Star
Similar Posts
Momentum Doesn’t Always Continue
I love these patterns so much. Let's do it one more time. I know… we've done this a couple of times already – see here – and here. And of course, those with the YTC Price Action Trader should look to Volume 2, Chapter 3, Page 143, for the same idea expressed on the…
Context Can Also Involve Time… Not Just Price
or… Why I held this trade drawdown longer than I usually would! On Monday I entered a PB short in expectation of a downtrend continuing lower. By far the best entry area would occur on a weak pullback to the shaded region (A). And the last Trading-Timeframe (TTF) green candle certainly makes it seem…
First Pullback in a NEW Directional Trend
REFERENCE: Definition of a sideways trend – Vol 2, Ch 3, Pages 99-102 Not all trade setups are equal. You need to collect and review your stats to determine which setups provide your A+ MUST-NOT-MISS potential opportunity of the day. For me, the first pullback in a NEW directional trend is one of these…
Candlesticks equal Price Bars
Email Q&A: I would like to see a side by side comparison of the various candlestick chart patterns & equivalent bar chart patterns. In other words, what does a Shooting Star look like on a bar chart? The same with a Harami, Dark Cloud, Piercing, Engulfing, Morning Star, etc. Thank You!!! Response: No problems at…
Support Becomes Resistance – A Trade Example
Once broken, key areas of support will often act as resistance. Vice versa for key areas of resistance, which when broken will become future support. Let’s look at an example, of support becoming resistance. The beauty of this example is that it’s a challenging one from a trade management perspective (especially for people like me…
Buy Because There Are No More Sellers (with lower timeframe)
A fortnight ago we looked at a few trades which were entered using the concept of "buying because there are no more sellers"… or "buying because the market can't go down". https://yourtradingcoach.com/trading-process-and-strategy/things-do-not-change-we-change/ I've received some requests for another example. And two people asked to see what I'm looking at on the lower timeframe. So…