Jim Kane – A Pattern Trade Entry Technique

Description

Jim Kane – A Pattern Trade Entry Technique

A Pattern Trade Entry Technique is designed to help satisfy Critical Element number two of the ‘Plan for a Trade’, the entry technique. Once a potential trade area is determined, the next step is to decide on an entry technique. A Pattern Trade Entry Technique is specifically designed for use with 5-point pattern trades as the potential trade area (PTA). The technique makes use of a multiple timeframe concept, but yet it is still very easy to set up and implement. The article includes discussion on various nuances of the technique, plus observations and tips on its application. A Pattern Trade Entry Technique is specifically designed as an alternative to ‘fading’ the entry, a method commonly used by 5-point pattern traders. The article is not written to convince the reader that this technique (or any other entry technique) is better than ‘fading’ the entry. It is written for those that have already decided they want an alternative to the fade entry. This technique is currently setting up on about seventy percent of the 5-point pattern trades that meet the Kane Trading criteria. The remaining trades are entered using the techniques from Entry Techniques. The technique is also being used at Kane Trading with The 4-Point Continuation Pattern.

Article Level: Intermediate to advanced
54 pages (including front matter), 34 charts

Prerequisites: A solid knowledge of 5-point pattern trading, as well as a thorough understanding of Fibonacci groupings techniques, as outlined in Advanced Fibonacci Trading Concepts. Familiarity with the techniques from Entry Techniques and Trading ABCD Patterns would greatly enhance the understanding and application of the technique.

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