A. quote
"By having a solid foundation of how price action works you can then apply this to the most reliable patterns and take them to the next level."
If I understand your above comment, the way this would play out is that when a common pattern forms, you wait for the last swing high or low of that pattern to be exceeded as an entry signal, as a general rule. A noted exception would be for a double top (bottom) which formed in the general trend direction, where we may enter with a smaller stop, perhaps on a minor trend break of the runup forming the second high. This simple concept, (if correct) realy simplifies playing flags, channels, head and shoulders, triangles and dt/db's.
Triangles still get my goat a lot, as they sometimes morph into a broadening pattern as the indecision of the market continues.
Beautiful day shaping up here in north florida.
Hope all the good comrades of this thread have a great Sunday!
"By having a solid foundation of how price action works you can then apply this to the most reliable patterns and take them to the next level."
If I understand your above comment, the way this would play out is that when a common pattern forms, you wait for the last swing high or low of that pattern to be exceeded as an entry signal, as a general rule. A noted exception would be for a double top (bottom) which formed in the general trend direction, where we may enter with a smaller stop, perhaps on a minor trend break of the runup forming the second high. This simple concept, (if correct) realy simplifies playing flags, channels, head and shoulders, triangles and dt/db's.
Triangles still get my goat a lot, as they sometimes morph into a broadening pattern as the indecision of the market continues.
Beautiful day shaping up here in north florida.
Hope all the good comrades of this thread have a great Sunday!
