Kardec Trader breaks down entry tactics for aggressive traders using 4-hour charts. Look for consolidation between support and resistance after a breakout, then enter on a retest of the open or when price breaks above the pre-market high.
If you are a more aggressive trader, this is going to suit your personality. Let's say we have the four hour time frame here. What we're seeing is a break above and then we're seeing this kind of consolidation pattern like this. What does this mean? You have the resistance, you have the support. So for me, when I'm looking at this sideways action, I know that buyers have stepped up so aggressively here. What's going to happen? Sellers, because we're coming near that resistance, want to bring the stock down. However, buyers don't want the stock to come down. So we're consolidating. Why? Because this is where that fair price is over here. And so when we see this and the stock may be breaking out or gapping up, if the stock is gapping up, what are going to be the highest probability levels? Right into open this one right away we can get it because we can get in the second it breaks above the pre market high. All we're looking for is the retest. This may, honestly the first candle may be this one minute right here. Maybe one more candle for a little bit more displacement and then this right here, we're just looking for that retest. That's it.
