Joe ross hook pdf download

Email a Friend. Using his discovery of the Ross Hook as the nucleus for his trading approach, Joe Ross goes beyond his admirable chart-reading abilities to include the pivotal, sine qua non of any successful business endeavor, money and trade management. In this book, Joe puts the light over the often-repeated, yet never operationally-defined trading axioms. All book orders are usually processed and mailed out within 1 to 2 business days.

Thank you for your order. After the price has renewed a low of point 2, the downtrend is thought to have started. Theoretically, you may sell, but Joe Ross recommends to wait for a Hook to form.

The result of the pullback is Hook — a hook-shaped pattern. A Hook to buy is formed in an uptrend after a complete bullish pattern. The price makes a new peak, which is the high of the RH, after which a small downward correction, no lower than point 3, follows.

The movement from point 3 to the RH high is called the handle of the Hook, and the correction completes the pattern. A pending or market order to buy is executed when the price becomes higher than the RH high. The SL is below the nearest low of the Hook, the minimal profit is the size of the handle. In an uptrend, there might form several Hooks one after another. Each one can be traded separately, or the position may be held and buys filled in until the trend reverses. A Hook to sell is formed in a similar way to the previous Hook, only in a downtrend after a complete bearish pattern.

The price makes a new low, which is the point of the RH, after which a small upward correction, no higher than point 3, follows. A pending or market order to buy is executed when the price becomes lower than the RH low.

The SL is behind the nearest high of the Hook, the minimal profit is the size of the handle. In a downtrend, there might form several Hooks one after another. This is the point where the correction of the main Hook ends, followed by a movement along with the trend. In an uptrend, falling below the point of an RRH means the end of the uptrend and the approaching RHs for sell.

In a downtrend, the growth higher than the point of the RRH means the completion and a possible reversal of the trend, we should wait for the RHs to buy to appear. In his book, the ways are described in detail, you can change sone that suits your trading style.

Let us discuss two popular ways. By Joe Ross, the natural support and resistance points are the places on the chart where the price corrects and moves along with the trend then. For an uptrend, these are the new local lows emerging after a correction. For a downtrend, these are the new local highs after each correction.

These levels almost coincide with the RRH points. An SL is put behind these levels. As a landmark for taking profit, Fibo levels can be used. The instrument Fibo extensions are available almost in all popular trading terminals. We take it and apply it to the formed RH on the chart.

Aims for the TP will emerge on the chart — the Fibo levels You can close the position partially on each level. In his example, Joe Ross has demonstrated that his strategy works well and can bring a stable profit. Using the RHs, one can build a whole series of profitable trades along with the trend. It should, however, be remembered that they work well in a trend.

For success, you need a cycle: a trend movement - a correction - the continuation of a trend. In the article, we have only discussed the main principles of trading with RHs.

The author may supplement their strategy with filters, tricks and other fruit of their experience. In my opinion, no. It is not a good ideas to trade very ross hook pattern setup that you see. What I suggest is that you only wait for ross hook pattern to form on key price levels like: when price reaches a trendline when price hits a support or resistance level when price hits a fibonacci retracement level etc Only when price hits these levels and when a ross hook pattern forms then take a trade based on the ross hook pattern.

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