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75 I guess what Im getting at is that congestion is somewhat of a conceptual matter. Congestion is largely in the eye of the beholder. That is what makes it difficult to master. I believe that the majority of .cgjngestions run only three to ten bars or so on the chart, So, what can I do about these congestions? Is there a way to trade small congestions, ten bars or less in length, and make money? What Im about to reveal next is one of the most dynamite concepts I have ever done in trading. What I will show happens often, and traciing it alone can make anyone all the money he ever cares to have. But remember, as Ive previously pointed out, it is difficult in its deployment, !tjevej;yonecai Perhaps it will look too simple. Perhaps you will doubt the truth of what I am going to show you. This technique presupposes that you know how to place an. order with your broker and how to trade once the entry is made, Im convinced that it will change the way anyone trades - forever! ., There are few days when this signal is not happening in some market somewhere. It should be done in conjunction with your other trading and it occurs on all charts in all time frames. But its best application occurs on the daity charts because of the risk to reward ratio. Additionally, ledge formations occur too often on intraday chartSvnd not often enough on the weekly charts. They say a picture is worth a thousand words. The pictures Im going to show next are worth thousands upon thousands of dollars. Look at alt of the pictures first (Figures 3-7). I have made a few notations on the chart. Dont worry if you cant figure it out immediately. These examples and the technique will make more sense when I discuss the rules for trading these "ledges." Get set for a SHOCK!!
Trading By Tlie Book - Part V 1S0B 1729 1658 1587 1516 1445 1374 13B3 1232 - V.buy-, 1096 rC-sell K-sell -buy IB winners A - ...... + ? turned out to be a uinner too! sefP-J*;pf jL <-liuy 1227? 11964 11651 11338 11025 10712 10399 10086 9773 <-buy ij \ V -buy oopsi reverse aah* reverse=> -buy iiLy 1 J 9 uinners 1 double loser -buy <-buy
SUGAR-UORLD 1620 1539 1458 1377 1215 1134 1B53 -buy 5 winners BfllTISH POUN | | Figure 4 | | | | 19 | | | | | | | |
1860B 17800 17400 17000 16600 16200 15799 15400 15000 <-selI reuerse- Theres a buy \ here that hurt! se- . Hff] j:/buy y. sellj 1*« ouch! 9 winners 1 double loser
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