Here’s a simple rule-of-thumb which I’ve found very effective over the years… If price fails to do something twice, always consider the opposite. “Something†refers an attempt at a significant move. A break of a key level, for example. Or a break of structure. Or, in this case, an attempt to push lower following a…
just want to share a quick followup to a comment made a fortnight ago, in the article: When Price Stretches to Reach the Level. So let’s see the outcome. Note the first leg down with two overnight gaps. Interestingly, the second gap has still not completely filled. And note the second leg providing one of the…
Emotion drives price. And at the market open, STRONG emotion can drive price with strength. Tuesday offered a perfect example, with a pre-market news-driven price shock resulting in a strong bearish trend day. A day which screamed out to be traded on the short side. But let’s back it up first and look at some…
Let’s do a variation of the “Long is Wrong†topic which we covered in recent years. Here’s the concept: Today I want to flip that on it’s head. Because the reverse is true as well. And it sets up some great opportunities in the markets. And again, we’re looking for YTC PAT PB or BPB setups,…
I’d like to expand upon a little side-comment made in the fifth image from last week’s article. We’ve discussed choppy conditions quite a lot on my site. The plan is usually the same. This comment from last week’s article adds a new element to consider, at those times when the choppy narrow-range structure occurs at market…
