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Beat the Street: A Trader's Guide to Consistently Scoring in the Markets by Adrian Manz

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Chapter 8. Expansion-of-Range-and-Volume Consolidations

PATTERNS USUALLY DO not play out exactly the way we expect them to. Part of the job of a trader is to adapt to what is really happening instead of jumping every time there appears to be an opportunity. Every breakout trader eagerly anticipates the range expansion as a move with great potential. Many of us stop looking at these set-ups when they fail to immediately follow through, leaving what is possibly a great profit opportunity behind in the process. The expansion-of-range-and-volume consolidation pattern provides a second or third-day entry that can be more reliable than trading the anticipated follow-through day.

The basic premise here is that when range expansions occur, the market ...

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