The easiest way to recognize consistently powerful patterns is to focus on just a few ticker symbols, rather than the large universe of tickers that have options trading activity associated with them.
If you follow one or two ticker symbols that have high volume options activity, you’ll begin to recognize the technical patterns that jolt prices into motion, and you’ll greatly increase your skill and confidence!
By contrast, if you keep looking for new ticker symbols, you’re unlikely to develop the focus required to understand the nuances of the patterns associated with any one stock or index.
The most profitable patterns look the same, whether they are long term or short term. The differences between short-term and long-term chart patterns are in the duration of the expected price move.
A one-minute chart, for example, is not capable of producing a long-term price change. But even one- and five-minute chart patterns can produce great percentage returns; it’s just that the opportunities don’t last long, and they arrive only on—or very near—expiry days!
This is just the nature of trading leveraged instruments such as options. If a chart pattern can tell you how the price is going to move within the next several minutes, and it is near expiration of those options, it is possible to earn hundreds, or even thousands, of percent within minutes! This happens frequently.
Join Dale Wheatley for the trading day and we’ll all look for options on Expiration Friday
My senior Options Hunter traders monitor a short list of tickers to hunt throughout the day. Their sole purpose on options expiration Friday is to constantly search for setups meeting the Hunter requirements. The perfect pattern, an identifiable divergence, and multiple time frame support.
Get your one time pass to join me, Dale Wheatley, the Options Hunter, during market hours while we Hunt for options!
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