Thursday, June 4, 2009

High Probability Three Wave Pattern 06/04/09


I'm posting this because in the heat of battle I also have a tendency to overlook these high probability Three Wave patterns. We also had one to the upside a little later. The market for whatever reason typcially will give you the three waves in a directional reverse more than 70% of the time.
Psychologically, I have a tendency to focus on the first wave, and then lose focus and miss the third wave, which is the higher probability move. You can make a living on trading that third wave.
Charles

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