Price Bar Reversal Patterns – The Island Reversal
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Is this Market Bullish or Bearish?
For all those times I'm asked by email, "Why were you selling today when the market is bullish?" or "Why were you buying today when the market is bearish?" So when someone says that a market is bullish… or that a market is bearish… that actually means nothing without some idea of time scale….
Self-deception – According to Kierkegaard – Part 1
I came across a great quote during the week, which has led to an unplanned continuation of our recent theme on self-deception. Original articles: https://yourtradingcoach.com/trading-process-and-strategy/a-new-market-model-the-market-is-a-self-deception-mechanism-part-1-of-2/ https://yourtradingcoach.com/trading-process-and-strategy/a-new-market-model-the-market-as-a-self-deception-mechanism-part-2-of-2/ 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…
Opening Structure Trap
I do very much like a large Gap Open with a strong Opening Drive. But do you know what's better than a large Gap Open with a strong Opening Drive? How about a large Gap Open with Opening Drive failure and reversal to the opposite direction! We have discussed traps at (or just before)…
Better than Candlestick Patterns – Part Three
In parts 1 and 2 of this short article series we discovered a technique for determining the short-term sentiment displayed by any sequence of candles. (Go here first if you missed part 1 or part 2) It’s time now to consider the context. ‘Consider the context’ means we consider where the current price pattern appears with respect to…
Setups Based on Other Trader’s Stop Areas
As a follow-up to the article on stop running https://yourtradingcoach.com/trading-process-and-strategy/stop-running-and-what-you-can-do-about-it/, I thought I’d show an example of how these occurrences can set up great trade opportunities. Observe price as it breaches any significant swing H/L or S/R level. Not only will this trigger the breakout trader’s entry orders, but also the stops for many other…
Price Action Is Not Always What It Seems
Price can be deceptive! Especially if you allow yourself to be caught up in the lower timeframe data. And even more so when that lower timeframe offers a large wide-range candle. Let's look at this lower timeframe chart from Crude Oil on the 24th of February 2014. It looks even more bearish for those who…