Every trading week tends to take one of a few shapes
I look out for 3 of them
And once you can tell which one is playing out, the week gets a lot easier to trade
1. Classic Expansion
The low (or high) of the week forms late Monday or Tuesday
Then price expands in one direction into Thursday and Friday
Once that early low or high holds and price moves away from it
The direction for the week is set
Simply trade the pullbacks, don't fight it
2. Midweek Reversal
Monday and Tuesday move one way and pull everyone in
Wednesday sweeps liquidity and turns
Thursday and Friday expand the other way
This is the one that punishes traders who marry Monday's direction
If Wednesday takes a key high or low and shifts, the week has flipped
3. Consolidation Reversal
Monday to Wednesday goes nowhere
Thursday breaks out, usually fakes one side first
Then reverses and runs into Friday
No forcing trades inside the range
Mark the high and low, let Thursday take one side, then trade the move back through
Now look at the weekly candle on the right
The wick is where the week trapped people
The early low, the Wednesday sweep, the Thursday fake-out
Notice something else
In all 3, Monday never gives you the real move
Monday builds the range !!
It sets the liquidity the rest of the week comes back for
That's why a lot of experienced traders are never in a hurry on Monday
They let it build, then wait for the week to show its hand
You don't need to predict the profile on Sunday
You need to recognise it by Tuesday or Wednesday
And stop fighting it
This weekend, pull up the last 4 weeks on the pairs you trade
Label each one
You'll start seeing them everywhere
Study 📚
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$2,000 for 10 traders‼️
October is here, and we’re kickstarting more traders again.
Since July, I’ve been putting aside $2,000 every month to help traders who have the knowledge but simply don’t have an account to trade with yet.
We’ve done this consistently, and October is no different.
Another $2,000 is going towards helping more traders get started this month.
If you currently do not have a trading account,
- Repost this post and comment:
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I want to see how many people in this community are still being held back simply because they don’t have an account to trade with.
Let’s change that for a few people this October.