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Hi everyone,
I am kinda confused about whether I should prioritize the market cycle or specific patterns. I know that Al talks about nested patterns and the market being fractals but whenever I see a wedge setup I also see the market being in a channel. So should I trade the wedge pattern for a reversal or wait for a PB and go with the channel?
Thanks a lot.
If you identify enough reasons to take the reversal, and the traders equation is ok, you might take it (better to see a failed breakout of supp/resist) . Reversal will usually have low probability. Then you could early exit on a strong opposing bar. It depends on your assessment of the risk, reward and probability (the Traders Equation). 😀
Thanks for the advice! Those are definitely the factors I have to remind myself when taking a trade.
