Let’s do a variation of the “Long is Wrong†topic which we covered in recent years.
- https://yourtradingcoach.org/trading-process-and-strategy/long-is-wrong/
- https://yourtradingcoach.org/trading-process-and-strategy/long-is-wrong-2/
- https://yourtradingcoach.org/trading-process-and-strategy/long-is-wrong-3/
- https://yourtradingcoach.org/trading-process-and-strategy/long-is-wrong-4/
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, depending upon the actual trend structure.
It’s trading time…
My thoughts at this point are screaming out…
IF IT CAN’T GO LOWER, IT’S PROBABLY GOING HIGHER.
Yes, it’s a BPB of the current High of Day & Overnight High, but it’s far more than that as well.
Yes, it’s a red day turning green, but it’s far more than that as well.
This is a setup occurring at a market open, that tempted people to enter short only to find they’re stuck in a trap.
Emotion is opportunity. Find the times and places on the charts where other traders are experiencing fear or greed. And attack!
IF IT CAN’T GO LOWER, IT’S PROBABLY GOING HIGHER.
Happy trading,
Lance Beggs