I use this analogy in many situations, where the market just pressing price, up or down.
What's important here is, the release of the pressure.
See that one wide range bar? This is "interesting", something important is going on here.
Now, since every breakout trader is long, they (Market Maker for this one Stock) will most often try to scare them out by letting price fall back like cooled steam falling back from air to ground.
Taking this analogy as a "CONCEPT" and not as a "setup", gives you the freedom to reapply it in many other situations and trades.
(Thank you Shane, your the real Master...)
...and allways keep in mind - never ever ever risk big, because everything we think can fail.
Still lying and hunting for the bounce.
Having patience like a Cat at the Mousehole...MEEEOW! §8-)
You have good eyes!
No, did not observed this one. But you can use it if you are comfortable with.
Just be consistent in how you use the forks. It's a big "playground" with these tools, so don't get too fancy with them. Sometimes "they try" to confuse you ;-)
Over the years I have thrown away a lot of variations.
I try to keep it as simple as possible, observing how price behave and make my systems out of the price fluctuation around standard A/R and forks.
Have a sunny day mate and keep up you good work!
I'll even keep the best forks on a chart, knowing that when price gets close to it again it'll often take up that same "frequency"/length of moves again! I'm often able to pin point entry/exit points on the 1-5 min DAX chart with this technique ;)
But yeah I totaly agree about it being a playground and I tend to get a little too playful sometimes. I still have a lot to learn! Might have a look at that course of yours of again.
You to TC.. See you around :)
Unfortunately my course is not online anymore.
It was not really interesting for people I think, because I probably presented it too heavy (see comment above to Kamisun).
I do better next time :)
Trade save mate & laters...
Let me know if you ever make anything like that again. The heavier the better, if you ask me.. And please if you have any material you think I would be interested in, don't hesitate to PM me. I would be greateful! I think I have most books/articles of what's found on the net, but I know there's more to be found.. ;)