The first counter trend break of a channel move is called 1CHBO. The BO is usually expected to fail and is a signal to enter in the direction of the channel. Here are a couple of nice examples. Continue reading “1CHBO – 1st Breakout of a Channel”
Gaps from Prior Days
As a Day Trader horizontal Support and Resistance from the current and the prior day (HOY, LOY and COY) are your main concern.
The Open – Some General Rules
better call them Guidelines 🙂
The open starts with either a trend or a trading range.
Continue reading “The Open – Some General Rules”
Reversals
All reversals begin with a Trend Line Break (on how to draw trend lines see this post) or a Trend Channel Line Overshoot (too far too fast) before the actual Reversal happens. Continue reading “Reversals”
The Opening Range
When you get bar 1 and bar 2 in opposite directions, you can assume this is probably the Opening Range. Continue reading “The Opening Range”