I absolutely LOVE IT when people send me charts and emails full of excitement at new discoveries or new ways of "seeing" the price movement.
I received one last week that I just had to share.
It's such a great example of seeking entry on the wholesale side of the market structure. I love it.
An email came from G.N. with the following chart. Of interest was the upthrust pattern allowing entry short, in line with the ideas discussed in prior articles – Professionals Traded Here and Confirmation is Risk.
(Note: The image here is compressed to fit the page. If you click on the image it will open an original-size image in your browser. Or refer to GBP/USD on the 2nd November, 1 min chart, if you wish to look at your own charting platform.)
Actually, let's zoom in a little to identify the upthrust area.
So here is what I ABSOLUTELY LOVED about receiving this image and email from GN:
This chart provides an awesome example of entry on the wholesale side of the market structure. Here's what I love about this particular trade idea:
It's been one of my favourite concepts for years.
The idea of watching breakouts against market bias for failure. And using that to trigger entry back in the direction of the original market bias.
Keep an eye out for it in your markets and your timeframes.