Showing posts sorted by date for query stacey burke. Sort by relevance Show all posts
Showing posts sorted by date for query stacey burke. Sort by relevance Show all posts

Saturday, September 14, 2024

Price Action Patterns & Entries at High and Low of the Day | Cameron Benson

Our focus is on price action trading at key levels: daily high and low, and the previous day's extremes. We examine how price reaches these levels — through Stair-Stepping or Ramping — and its subsequent behavior. The price action patterns include M's, W's, Double Tops/Bottoms, and Pin Hammers at daily highs and lows. 
 
 Stair-Stepping and M Patterns: These indicate potential reversals at daily highs or lows, 
with detailed entries and exits often managed through lower time frames.

Ramping is characterized by parabolic price movements and often leads to swift reversals. Observing tight candle patterns with minimal overlap helps identify strong trends and potential breakouts. We also look for specific patterns like Stair-Stepping and Three Pushes, with Peak Formations signaling possible reversals.
 
 Ramping Behavior: Recognized by tight, parabolic moves followed by rapid reversals. 
The ramp into extremes usually signals significant price shifts.


The following 5 minute charts of the NASDAQ are from last week (September  9-13, 2024). They show Entry and Exit Strategies, using Pin Hammers and Engulfments for Entries, and managing stops based on price action, with adjustments for larger, more volatile bars.

Monday, September  9 (Day 1 of 3 Day Cycle):
 
 Identified an M pattern at the high of the day with a pin hammer and engulfment, suggesting a strong short entry.

Tuesday, September  10 (Day 2):

 
Despite a promising setup, a large entry bar resulted in a stop-out. 
Emphasis on avoiding large entry bars and managing risk.
 
Wednesday, September 11 (Day 3/1): 
 
 Similar to previous days with M patterns and engulfments, also highlighting entry points and risk management.

Thursday (Day 2) and Friday (Day 3), September 12-13:
 
 Charts show patterns like descending triangles and W formations, 
with a focus on understanding price behavior relative to session timings.
 
Successful short-term trading relies on recognizing and acting upon the above presented price action patterns, managing entries and exits based on contextual behavior, and adapting strategies according to the specific market conditions within the 3 Day Cycle.
 
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Thursday, September 5, 2024

On Range Expansion, Monkey Hammers, FAFO & NFP Weeks | Stacey Burke

» When you get a range expansion, the market is sending you a very loud, clear signal 
that the market is getting ready to move in the direction of that expansion. «     
 —  Paul Tudor Jones 
  
» FAFO [F*** Around and Find Out] is when you try and scalp the high or scalp the low - or jump in because a market is moving - because something is up high or down low. If other time frame traders are driving the move ... be careful - that's called FAFO and is not a specific 90/10 easy money making trading setup. That's called gambling.

If the train has left the station ... find your next best candidate for your session that was on your watchlist. How is price behaving in the timing window - at the levels? No 90/10 easy money best playbook trading setup that you can see that is from your rinse and repeat templates? Then shut it down and walk away - or do what the experts do and hunt for science projects.

Behaviour of the trader - mindset of the trader - best 90/10 easy money playbook trading setup - timings - levels - behaviour of price - execution skills of the trader - behaviour of the trader after the trade is completed. Rin$e and repeat means exactly that ... same setups over and over and over again . «     — Stacey Burke

 
» It's a Non-Farm Payrolls week - don't be surprised to see a four-day template. The day count doesn't change. Wednesday was the reset day, and now we are in the backside of the week. We might get a monkey hammer on Thursday, and Friday setting up a Non-Farm Payrolls bounce trade. «     — Stacey Burke
 
 

Fed Chair Powell's promise to lower rates may trigger market reversals (HERE & HERE & HERE).

See also:
Stacey Burke (September 3, 2024) - Trading Beginning of Month & after Long Holiday Weekend. (video)
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Sunday, June 16, 2024

The Complete 3 Day Cycle Short-Term Trading System | Cameron Benson

 
[...] Back in the 1950s George Douglass Taylor was a pit trader and he is the original author of the 3-Day Cycle. He watched the people trading larger capital and started to notice a rhythmic 1, 2, 3 to the markets. He used these rhythmic studies to develop the 3-Day Cycle Short-Term Trading System.
  1. A Buy Day (Day 1) occurs after 1-5 Days of decline, when a market that has opened, made its low in the morning, and closed in the upper third of the days range.
  2. Then follows the Sell Day (Day 2) which in fact (contrary to what its name suggests) rallies higher above Day 1 and one could already cover long positions on that day. However, if the 'Sell Day' has a strong close, a directional follow through could occur the next day (Day 3/1).
  3. The Sell Short Day (Day 3) could come immediately following the Buy Day (Day 1), if price action presents in the opposite direction. However, after Day 1 the market could also move higher for 2-3 days before printing new highs in the morning, and close in the lower third of the days range. If you ever notice a market breaking out for 4, 5, 6, 7, 8 days in one direction, it's probably because it is breaking out of a larger structural pattern. [...] 
 » Once you see it, you can't unsee it. «

 
» The largest Aha moment I ever had when I started trading the 3 Day Cycle strategy was that the above three things can be traded completely different. It is massively important to your understanding of this style of trading:

(1.) 3 Day Setups using signal days (previous day's high and low, inside day, first green/red day).
(2.) Weekly Template.
(3.) 3 Day Cycle.
 
All three can also be mashed together into one big trading strategy that will present setups for parabolic trend trades, short squeeze, long squeeze, and some other setups that can help you get into the trade. « - Cameron Benson, 2023 

 
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Friday, May 24, 2024

ICT Weekly Seek & Destroy Manipulation Profile | Michael J. Huddleston

 The Weekly 'Seek & Destroy' Range Manipulation Profile a.k.a. the 'Retail Traders Graveyard'.

The Weekly 'Seek & Destroy' Marker Maker Range Manipulation Template with either a bullish or a bearish Friday is a neutral or low probability market profile. The manipulation is taking place where price is consolidating Monday through Thursday, running shallow stops under and above the intra-week highs and lows, then runs the intra-week high/low and expands higher/lower into Friday. 
 
 
How to anticipate it? When the market is awaiting major news announcements in the second half of the week - especially after one or more directional wide-range weeks (see also the daily 'London Swing to Seek & Destroy' Template).


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Tuesday, May 21, 2024

US Debt is now rising by $1 Trillion every 100 Days | Paul Craig Roberts

The US debt has never mattered, because the US dollar is the world reserve currency. That means US debt is the reserves of the world’s central banks. If US debt rises, so does the reserves of the world banking system. All central banks were delighted to accumulate more US Treasury debt as it meant the reserves of their banking system went up.

» The morons who comprise the Biden regime are scaring central banks away from the dollar. «
 
The Federal Reserve can always redeem US Treasury debt by creating money with which to buy it. The debt is always redeemable because it is denominated in dollars. The problem arrives when the dollar is deserted as world reserve currency. The morons who comprise the Biden regime are scaring central banks away from the dollar as their reserves because of sanctions against Russia, Iran, China, Venezuela, and others. The slow mental processes of central banks are beginning to understand that having your reserves in US Treasury dollar debt means they can be frozen, seized, denied to your use if you cross Washington.

Fun Fact : The current Chair of the Federal Reserve Jerome Hayden 'Jay' Powell is NOT Jewish.
Everything is fine. Don't fall for antisemitic trope, Anti-Zionism, and conspiracy thought crime.

The threat to Washington is, whereas the Fed can print dollars to redeem the debt, the Fed cannot print foreign currencies to redeem the US dollar. So, if central banks shift their reserves out of dollars into gold, as Russia and China are doing, or into other currencies, the supply of dollars in foreign exchange markets have fewer and fewer takers. Consequently the dollar loses its value relative to gold, silver, and rising currencies, and the dollar’s value falls in foreign exchange markets. As America’s manufacturing is offshored and as America relies on imports of food, US inflation rises. Historically, the Fed’s response to inflation has been unemployment.

 
♫ Nowhere to hide ♪ nowhere to go ♫ meet Saint Jerome ♪ the Wrecking Ball ♫
 
The Federal Reserve and the institutions used to suppress gold and silver prices use naked shorts to control the price by dumping shorts into the futures market. In other words, contracts unsupported by actual gold holdings can be used to increase the paper supply of gold in futures markets. As the futures market settles in cash, not in gold deliveries, a flood of paper contracts unsupported by actual physical gold can be used to suppress the price. In other words, the supply of paper gold can be printed just like the Fed can print paper money. [...] This price control process fails when the demand for gold exceeds the physical supply at the suppressed price. We have recently witnessed a new outbreak in the gold price. Is this a sign that the controlled price can no longer hold against the demand for physical gold, or is there some other explanation?

» America is likely living her last years. Perhaps this is why Putin and Xi don’t bother to dispose of us. «

As the fools ruling the US continue their destruction of the country, the dollar and living standards will die with the country. America is likely living her last years. Perhaps this is why Putin and Xi don’t bother to dispose of us.
 
 
See also:
 
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Monday, May 20, 2024

The 8 Most Common Chart Patterns & How to Trade Them | Aksel Kibar

I've simplified classical chart patterns to the most basic/common 8 patterns. I think most new patterns are derived from those basic ones. Our brains' pattern recognition is not that advanced to focus on so many derivatives. In fact better success can be achieved by narrowing down the below to select few.
 
 
There are 3 Types of Triangles: The symmetrical triangle, the ascending triangle and the descending triangle. Between those three I favor ascending and descending triangles for couple of reasons. One of them is, both ascending and descending triangles have horizontal boundaries. Breakouts through the horizontal boundaries are the chart pattern signal. The other reason is that, both ascending and descending triangles have directional bias due to their upward and downward sloping lower and upper boundaries. I find symmetrical triangles difficult to trade as price usually finds resistance at the minor highs following the breakout. Pause around minor resistance usually hampers the momentum and can result in more frequent failures. A symmetrical triangle has both boundaries converging towards an apex. It is a neutral chart pattern and doesn’t have a directional bias.
 

Type 1 Breakout = Breakout without any Re-Test/Pullback.
Type 2 Breakout = Breakout with a Re-Test/Pullback.
Type 3 Breakout = Breakout followed by hard Re-Test of Pattern Boundary.
Type 4 Breakout = Failed Breakout  - Price fails to continue in the breakout's direction and instead reverses. 
 
 
 
 
 
Breakout Type 1, Type 2, and Type 3 Summary.
 
 
 Head & Shoulder Top Failure acting as Bullish Continuation.
 
Cup & Handle as a Continuation Pattern in an Uptrend.
 
Rectangle as a Continuation Pattern in an Uptrend.

Symmetrical Triangle as a Continuation Pattern in an Uptrend.
 
Several Bullish Chart Patterns in an Uptrend.

Rectangle Bullish Reversal.
 
Rectangle Bullish Continuation.
 
The latest stats on pattern reliability: Rectangle continues to lead. With good risk management Type 1 & Type 2 breakouts offered edge with pattern signals.
 
 
 
 From Peter Brandt's foreword to the 2021 Harriman House re-edition of 
Richard Schabacker's 'Technical Analysis and Stock Market Profits'.
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Saturday, February 17, 2024

Forecaster BS │ Robert Miner

 » Learn to trade, ignore forecasters. «
 
'Forecasts' and 'signals' are useless without strategies and setups. A setup includes timing and levels for entry, exit, stop-loss, and position sizing in line with risk-management. This is what Robert Miner teaches in his books. Understand time cycles, price action, that price is always timed and measured; order flow, accumulation, manipulation and distribution (AMD/Power of 3); trend, trend reversal and trend continuation; time of day/week/month/quarter and risk/reward. Then develop 'signals' and strategies. Back-test. Learn to trade, ignore forecaster BS. 
 
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