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Showing results for tags 'trade4edge'.
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I find the best trading setups are where traps catch out one side of the market forcing covering of positions. One setup that I find very useful is best shown on a one minute chart with volume setting up conditions. I am looking for a low on an expansion bar and with high volume. I have marked it - Exhaustion 1. The second exhaustion has slightly less volume and forms after a retracement. This exhaustion bar is usually at new lows but can be at a slightly higher low. The theory is that these exhaustion bars get rid of the majority of sellers leaving the potential for a reversal to the upside. The entry is based on a failed move to the downside which traps sellers forcing them to cover. I expect a fast move to the upside, so if price doesn't move quickly I will close out. There is a few potential entry areas that I have marked. The reverse is applicable for downside trades. (The entry area for the short should read Lower High)
