Thursday, May 27, 2010

HIGH ODD PATTERN SHARED



I'd like to share the Pattern Reversal. The Chart is 1min 6j (JPY Futures) and it's applied to other instrument.

Conditions:
- Market is on trending mode
- When the market is on trend, watch for the surging volume, usually it's the with trend candle.
- Do not enter yet, because there's usually a final wash for weak hand.
- After the breakout showed, enter the 1st counter-trend candle. Put Stop Loss 1 tick below/above the top/bottom.
- If there's a 2nd washout, you'll be stopped out. Wait for another surging volume.
- You may enter the 1st counter trend candle or wait for another breakout.
- Stop Loss rules apply the same.

This is only my price action sharing pattern. Do it with your own risk.

Here's another example :



Notes : because of the counter trend setup, it's very wise to scalp your profit. 8 - 10 tick may good enough. Though, if you're lucky you may find yourself at the new reversal trend.

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