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The downtrend continues from swing high H to swing low I, congestion J, swing low K, swing high L, swing low M. Swing high L was the last swing high before swing low M. Price breaking above L indicates a change back to uptrend, in accordance with our objective trend definition. In this next example, figure 3.51 below, we have an uptrend defined by swing low A, swing high B, swing low C, swing high D, swing low E and swing high F. Note that swing low E does NOT lead price up to new highs, as swing high F does NOT exceed the highs at D.

• The most important factor in looking for your trade opportunities is… maintaining a good awareness of the structure of the market and the likely future trend direction.
• 4.3.4 – More Action – Trading In-between Setup Areas The number of opportunities provided per hour will vary depending on your chosen market and timeframes.
• Using this method, he has successfully elevated many aspiring traders from newbies to the expert level in the last four years.
• For the same reason, it’s pointless trying to compare with another trader.
• No question….Brett Steenbarger has the experience, the intellect, knowledge of trading and markets and the educational background to perform as a top trainer for traders.

Is the current price accelerating or decelerating? Noting these changes, we consider the meaning from the perspective of supply & demand, and from the perspective of traders making trading decisions. Don‟t look at figure 2.9 and just see a breakout below support at point A. Learn to view all price movement from the perspective of other traders, and how the price movement influences their decision making. See the bears entering at point A with anticipation and greed, with their sell orders, expecting lower prices to follow the breakout.

Trend direction depends on the supply/demand imbalance. And this is dependent on traders‟ decision making. https://forexarena.net/ And traders‟ decision making is influenced largely by areas of previous supply/demand imbalance.

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In 2001, he joined a high volume market making group where he managed large positions in the 30-year Bonds and 10-year Treasury Notes. In 2007 he transitioned to full-time electronic trading. John joined Topstep in 2019 and is a regular contributor to the daily Market Forecast and Recap, The Coach’s Playbook, and Limit Up!

When a position has moved against them and they‟re in drawdown. At some point they‟re going to reach maximum stress at which time they‟ll finally accept they‟re wrong and exit their position. When a position in profit starts to move against them. At some point they‟re going to reach maximum stress at which time they‟ll accept their trade is no longer right, and exit their position before the market can take the remainder of their profits.

Have a great Christmas, and do enjoy a few well earned beers for such a fantastic year! You can trade the daily timeframes ‘part-time’ with a very limited amount of time or you can trade the H1, M15 or even M5 timeframes ‘full-time’ and boost you D1 results. I should also emphasize that Andrew’s support is tremendous.

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In this first example, we have an uptrend defined by swing low A, swing high B, swing low C, swing high D, swing low E, swing high F, swing low G and swing high H. As a candle which initially moved downwards continuing the move lower after F‟s retest of D, it then reversed quickly to rally back upwards. The speed of this move will have trapped some shorts in losing positions. It‟s a significant area and therefore suitable for selection as a swing low.

Through practice you will become comfortable with a subjective assessment of trend direction, and also a subjective assessment of which swing highs and lows you consider significant. Our discussion on assessing the strength or weakness of the trend will assist greatly in your ability to subjectively assess the trend direction at the points of objective trend break. Don‟t make this more complex than it needs to be. A trend is a general tendency for price movement in one direction. Your mind is much more capable of identifying this trend, than any objective definition.

It exists at an even deeper level of understanding – that which creates price and price movement. Cory is a very profound and knowledgeable coach and active trader himself. I originally came to Cory after over 10 years of failure.

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The best thing about this system is its simplicity as an earlier poster has already pointed out. I will personally fly to New Zealand to shake your handIts been a while since we last spoke and I am pleased to say that I have been trading profitably since the start of the New Year. Up until last week I was +108% up for the year. I found this market instantly captivating, and after gaining some basic knowledge, I started to look for someone to guide me in the right direction. Thank you for the webinars and daily trade suggestionsHi Andrew, Just a quick line to thank you for the webinars and daily trade suggestions, which are really useful. Last week I made 5.05% on my account, which I am delighted with.

Personal Survival – maintaining the passion for trading, and motivation to continue for as long as necessary. Step 2 – Trade Entry Entry is triggered on the next candle. Figure 5.109 – Example 10 – Potential PB Opportunity – Entering Long Pre-Breakout Step 1 – Trade Preparation We now prepare for a potential PB opportunity, as shown below. The next candle stopped out both parts for a loss.

To find an honest trading coach with a proven system that has a high percentage success is a blessing. His software system uses Japanese candlestick pattern recognition, Fib ratios, and support and resistance levels which enable you to select high probability trades. I would strongly recommend Andrew as a person and as a trainer.

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In this case, reducing speed on each price swing is evidence of a weakening of the downtrend. Similarly, price swing shows a deceleration of the downmove. Momentum is again weakening in the direction of the trend. The next move is likely to be a correction upwards.

They provide some counter-trend orderflow, but are NOT automatically assumed to reverse the trend, until we see evidence of likely reversal. Figure 3.39 – Downtrend – Chart A downtrend ends when price breaks the swing high which leads to the lowest swing low of the trend. Figure 3.35 – Uptrend – Chart An uptrend ends when price breaks the swing low which leads to the highest swing high of the trend. Candle A has a low which is HIGHER THAN candle C’s low.

Chapter 3 taught us a method of identifying the market bias – the path of least resistance – the likely future trend direction. We now aim to find places on the chart where other traders are fighting the bias. We identify the areas where they realise they‟re wrong and are forced to exit. There are two primary concepts behind all my setups – fading weakness and fading trapped traders. Fading Weakness The future trend moves in the direction of strength and against the direction of weakness. We therefore aim to always trade in this direction – with strength and against weakness.

This is a great example of how the analysis of momentum within an area of congestion can provide clues as to the possible breakout direction. The key price swings for me are the two bearish swings, A and E, both showing a steep slope and therefore indicating strong bearish pressure. However we also note that F, while slightly weaker than E, does show increased strength in the bulls. Demand has entered the market at these lower prices.

Note that 2% drawdown does not just mean two stop-outs. With an active trade management process, many stops will occur with reduced loss. It may take you 2, 3, 4, 5 or even more trades to hit a 2% session drawdown.

The motivation, disgust and desire will not be enough. If a session stop is hit while live trading, you should consider the need to return to the previous size and/or the sim environment. your trading coach review If two session stops are hit, with no intermediate equity high, then you must return to the previous size. All size increases must be proven in a simulation environment first.