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| Bull, Bear, Top, Bottom, Breakout, Breakdown. That's about it. You'll see the same thing no matter what chart or time frame you look at. The first step to successful trading requires little more than identifying a stock's current stage and waiting patiently for a setup point to be struck. Take the time to learn the unique characteristics of each Pattern Cycle phase, and start thinking in 3-D. But keep in mind that different trends persist through different time frames and often remain in deep conflict with each other. This can produce undependable price movement. In fact, most of your trading losses will come from jumping in one trend while another was telling you to get out or stand aside. |
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