Price Reversal Patterns using Support and Resistance Day Trading Strategy

– Price reversal patterns and our trigger lines

o Using the 2-step pattern but keep a close eye on the trigger lines from slower timeframes

– Does a higher risk trade mean higher reward?

o Usually no, lower expectation for success
o The reward will be LESS than normal because your rules aren’t lining up.

– What technical indicators do we use?

o You will OWN all the indicators
o You also get charts, data, and every tool you need to be successful.

– What timeframe do we use when watch the dollar index

o 21-range and 13-range
o 30-90 days of market data

 Draw trend lines
 Compare your ranges
 Identify overhead res, and supp below
 Mark the highs and the lows with ‘price alert’ indicator, and wait patiently for the DX to breakout.

o This is all covered in our morning prep, every day @ 800am est

– Trade Management

o Scalpers: always use the same trade management
o Day Traders & Swing Traders: will always be different

– What entry do I use?

o Fast Track Method = Resting limit order
o Scalpers = use TRAP entry
 Uses your trading DOM with your worse-case scenario to TRAP price into your best order.
 Does not use market orders b/c they are too sloppy

o Swing Trader = both

– What do we look when we need BIG MONEY?

o To enter a trade, I want to make sure we have enough interest in that move.
o Use my filtered time and sales window
o Get the properties for these in the download section of the ADV Course
o Where and when do we use this?

 Used for entries trigger
 Used for exits
 Know when to enter and when to exit

– What is the definition of divergence

– Speed is the most important indicator: