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Strategies & Market Trends : Trading From Main Street.
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To: Brandon who started this subject5/6/2001 8:56:35 PM
From: Brandon  Read Replies (4) of 226
 
The 2T Continuation Pattern occurs when a stock completes a very sharp rally on the third bar back of a daily or 15minute price bar. The stock then hesitates forming an inside range bar in the upper 1/3 of the third bars range. When the stock then breaks the high of the last bar, traders are presented with very favorable risk/reward setups on the long side. Nearly 1/2 of the "Scalp" type trades I take will be 2T Continuations from the 15minute price chart. I also take some of my daily and weekly Swingtrades based upon this bar. It is worth noting that while I have found most price patterns to apply well to the short side if you reverse it, this is not always one of those.

Brandon
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