The concept of range expansion and range contraction also works on bearish side. If you are a new swing trader focus your energies on these kind of high probability setups. Scan for these kind of setups. Set yourself for finding these kind of opportunities.
In these kind of setups you have lot of time to plan your trade and be ready when it breaks out or breaks down.
Bearish Swing Setup
Same idea of range expansion and range contraction works on bearish side but you do not find many candidates like these on day to day basis unless we are in longer duration bearish move.
Bearish Swing Setup
Same idea of range expansion and range contraction works on bearish side but you do not find many candidates like these on day to day basis unless we are in longer duration bearish move.
2 comments:
Do you use stop orders above consolidation range or should i say below consolidation range in this example to enter a trade. What would you suggest to someone who does not watch the market during the day. In addition do you have rules against chasing a stock after BO or Breakdown The "wow I missed that 5% move I better buy before it goes 10 % mindset.
I watch them mealtime. But yes one can put buy or sell stops. No rule on not chasing, it depends on catalyst or market conditions.
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