The best traders take advantage of alternate entries to build positions before a stock becomes obvious to the crowd.
Here are 7 lesser known Chart Patterns that are a MUST in any trader's tool box 🧵👇
#1: Alternate Pivots
Alternate pivots offer earlier entries when compared to regular pivots.
These pivots are important because:
▪️ They offer the same if not better R/R then regular pivots
▪️ Less volatility around these areas
▪️ Allow you to start positions EARLIER
#2: High Volume Close (HVC)
The HVC is created from a big volume gap up.
The close of this day is an important point for institutions to support.
If institutions are in supporting this point, price should be very responsive - making it a great, lower risk entry.
#3: Pivot Retest
The pivot retest setup happens when price retests the prior support/resistance point & then rallies back through.
This can be a powerful setup as it acts as a 'shakeout' and reverses higher with stronger hands holding the name.
#4: In The Wick Setup
We are looking for stocks that open in the wick of the prior session's bar.
The buy trigger is when price moves through the prior day's high.
The stop loss should be the low of the current day.
