Trading in the Direction of the Trend after a Counterreversal Block

This strategy entails the following five steps 4. Place a buy stop order or a sell stop order. 6. Let's look at these steps in order. For traders who want to join the existing trend, a key step is confirming what the trend is. This popular strategy is greatly enhanced by the use of price break charts. When a trader uses price break charts, the strategy is redefined as trading with the prevailing sentiment. To find the prevailing sentiment, the trader simply needs to confirm what the latest...

Introduction

The purpose of this book is to give beginning and more experienced traders a fresh look at the principles and applications of alternative charting types. These charts share one significant attribute they display information independent of time. These types include price break Kagi Renko point and figure, and cycle charts. These charts are important because when the trader applies them correctly, they provide different views of the shape of market sentiment as well as the shape of trends. The...