There's
a little known joke among the trading community that goes like this: "A
trader walks into a bar... pattern: 'Ouch!' "
Fact
is, if you don't know what you're doing, price bar analysis can be a
bit "painful." Finding a discernable pattern in their grouping can feel
like finding a hair in a hay stack.
But
if you have the right teacher -- say someone who has used bar pattern
analysis for twenty-plus years to signal dramatic moves in some the
world's most watched markets -- well, then the discipline is
invaluable. And right now, EWI is offering just that, free: the 15-page
eCourse Book titled "How To Use Bar Patterns To
Spot Trade Set-ups" by
EWI's chief commodity analyst and Futures
Junctures Service editor
Jeffrey Kennedy.
In
this free 15-page resource, Jeffrey Kennedy shows you the top 6 bar
patterns from his personal repertoire. He provides each pattern with a
definition, illustrations of its form, lessons on its application and
how to incorporate it into Elliott wave analysis, and historical
examples of its occurrence in major commodity markets.
Take,
for instance, the eBook's section on "Popgun" bar chart patterns.
Jeffrey defines this configuration as a "two-bar pattern composed of an
outside bar preceded by an inside bar." (See chart below.) From its
namesake (the old-fashioned cork-and-string toy gun), popguns introduce
swift tradable moves ("the cork flying") that are ultimately retraced
("the string pulling the cork back").
For
a real-life example, see the September
27 Daily
Futures Junctures, where
Jeffrey presents this daily chart of December Coffee that clearly
identifies a "Popgun" at the May 2010 low.
As
for the remaining 5 bar patterns featured in Jeffrey's eBook -- look no
further than the complete, free15-page eBook. You can read "How To Use
Bar Patterns To Spot Trade Setups" now with an instant, free Club EWI
membership.
In
this comprehensive collection, Jeffrey provides each pattern with a
definition, illustrations of its form, lessons on its application and
how to incorporate it into Elliott wave analysis, historical examples
of its occurrence in major commodity markets, and ultimately --
compelling proof of how it identified swift and sizable moves.
Best
of all is, you can read the entire, 15-page report today at absolutely
no cost. You read that right. The "How To Use Bar Patterns To
Spot Trade Setups" is available with any free, Club EWI
membership.
This
article was syndicated by Elliott Wave International and was originally
published under the headline A
Trader Walks Into A Bar... Pattern: HOP-portunity On Tap.
EWI is the world's largest market forecasting firm. Its staff of
full-time analysts led by Chartered Market Technician Robert Prechter
provides 24-hour-a-day market analysis to institutional and private
investors around the world.
