Simple Day Trading Market Cycle Drills #2: Lightning Bolt Pullbacks
  1. Intro
  2. Goal
  3. Drill Instructions
  4. Conclusion

Intro

  • This is part of a series on learning the MARKET CYCLE. Many traders contacted me asking for ways to improve this part of their price action reading.
  • We have started to see the larger more obvious moves as having 2 legs.
  • But the connections between those moves, i.e. the pullback – also has 2 legs.

Goal

  • Practice the CONNECTOR between the 2 parts of the lightning bolt.
  • Use pullbacks as evidence there is more in the direction of your trade.
  • Wait for pullbacks to finish before entering.

Drill Instructions

  • Mark the main moves as in the previous drill
  • Mark the connector with a circle
  • Draw the connector lightning bolt
  • Remove the main moves
  • Look at the 2nd entries that appear
https://www.tradingview.com/x/G1BsGMJQ/
https://www.tradingview.com/x/XCvkv2I6/
https://www.tradingview.com/x/jv6adLkA/
  • Find 2nd entries
https://www.tradingview.com/x/xIWffNvD/

  • You can do it on larger moves as well for 2nd entries


Conclusion

  • Use pullbacks as evidence there is more in the direction of your trade.
  • Wait for pullbacks to finish before entering.

2 responses to “Simple Day Trading Market Cycle Drills #2: Lightning Bolt Pullbacks”

  1. briefclearly01db4d1c35 Avatar
    briefclearly01db4d1c35

    Thank you so much for this series! I took an AI course but was struggling to systematically apply what I learned. This content has been incredibly helpful. I finally understand the logic and significance of the 2nd entry. Much appreciated!

    Like

    1. Tim Fairweather Avatar

      You’re welcome! I love second leg trading, happy to hear it works for you as well – it is the foundation of everything I trade! T

      Like

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I’m Tim

Welcome to Zen Trading Tech.

I’m a Aussie day trader and I post trading tips, practice drills, and indicators that helped my trading get to a professional level.

Everything here is to help train the eyes and hands to trade better. If it helped me I’ll post it for others. Hope you enjoy!