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This contrarian pattern works for day traders and position traders alike. It maintains that the market is “engineered” from within. The three consecutive cycle days are: the “Buy Day”, the “Sell Day”, and the “Short Sale Day”. On the “Buy Day”, the market opens near or at its low prior to a price rally. The market is selling off as the uninformed sellers sell to the smart-money buyers. In effect, the market is taken down to create selling. Often, the overnight stops will be hit and buying absorbs the sell-off. When selling subsides, the market is ready to rally as new buying enters the market.
On the “Sell Day”, the long positions acquired on the “Buy Day” are sold at or near the previous day’s high. What is happening here is nothing more than smart money taking profits where resistance exists. One would think that the market would now decline – but first it is “engineered” higher. On the “Short Sale Day”, the market opens higher and rallies. But the rally is short-lived, and soon after the market declines, closing near its lows. The appearance of strength has fooled the buyers. After the three-day cycle, the buying strength has dissipated, and lower prices become the path of least resistance. Once again, the smart money is on the right side, selling near the highs.
This pattern appears again and again - only to disappear, and then reappear once again. It may be consistent for four or five weeks and then disappear. It is most consistent in markets that are not trending.
THE THREE-DAY RALLY
This setup is very similar to the “three-day cycle”. It involves waiting for the first higher close following a five percent or better rout over the past couple of days. The higher close indicates that the selling is complete, at least for the short-term. Normally, a three-day rally will take hold as sellers back away and traders perceive bargains are available.
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BIG DOGS EXPOSED
Sound familiar? You have spent years in search of commodity trading rules, a currency trading strategy, and stock market successful trading strategies. All you really want is the "Holy Grail" of entry techniques. You add one indicator on top of another, switch from one guru to the next, until you are so confused and unsure of your entry system that you can't make entry decisions and stay organized. You get so distracted and frustrated that you quit watching the markets all together!
(Author: Peter R. Bain)
Shows you how FAST you can make money when the BIG DOGS get their way, which is ALL THE TIME. And, we're talking ALL 80 markets here - not just stocks and commodities. Even I am STILL surprised by how much power they have.
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