"A Trader just find a best pattern to follow in his life" I wanna create a series about the patterns I am following that have helped me to profit in this market. This is one of the patterns what I often expect, I want to start with it because it is one of the most ideal in my opinion. -> The price moves up and accepts a new Value Area, then I will look for a buy signal. Moving up in a continuing uptrend means you're buying in a position that is recognized by the community as bullish. In addition, you'll has the backing of big buyers who bought from the low value area, they want to protect and strengthen their position. This is different from buying on a reversal pattern, where you have to fend off many sellers on the way up, as these sellers need to protect their positions. So even though this pattern offers a bigger profit (if you win), in terms of trade-offs, I still choose to buy on the continuation position. How about you?
In order to profit in this market you have to not only buy a stock but also have to sell it. Just knowing where to buy is half a strategy. Where you sell determines your profit. How are you exiting these trades?
Short only, fighting MNQ uptrend. Fit your strategy within the daily average true range. Price drops below mid point, go short with equal stop and price targets that close within the daily ATR.
You are going long at higher highs - thats perfect. I don’t know the TF you are trading...but why not get in that small pullback on the way up? Why wait till the next congestion area?
When the stock is cornered... You sell when it can’t go any higher. And buy when it can’t go any lower... Isn’t it simple