I divide the market price action into the following categories:
Trend (or elastic trend): There is an obvious trending in the market. Bars in the direction of the trend are small, close strong and there are multiple bars in any given trend-side push. Bars against the trend are fewer, usually larger and if there is more than a single bar, closes are usually weaker.
Hard Trend: This is a kind of trend where there are very few bars in the counter-trend direction. With-trend bars can be large or small, pullbacks are usually just a bar or two. This is a very strong trend.
Soft-trend: Bars are very small both trend-side and counter-trend-side. Very shallow pullbacks and pushes.
Channels: Channels look like Soft-trends but with one big difference. Unlike the trends above, a pullback in a channel often overlaps into the previous signal bar.
Trading Range: There is no discernible trend. Erratic movements usually lasting two or three pushes in one direction followed by pushes in the opposing direction. A move in one direction may or may not reach the other side before reversing, therefore hard to gauge profit target.
Barb Wire: A special kind of Trading range where the price action is confined to a narrow range made of small bars, many of which are dojis
The Open: Markets that have "Regular Trading Hours" have opens and closes for the day and the open of a given day has often behavior that may look entirely unlike the previous day. When the market opens and the first bar begins to form, the market is not in any of the above states yet and is considered to be in the open state. This lasts for about 10 bars or so.
Each price action type has its own list of setups. A setup that works very well for hard-trend will fail for a channel and vice-versa. These 30 setups cover every possible large move from any type of price action. If you master these, you can trade any market.
There is a small number of setups per price action type and you can focus on a much smaller set of patterns. Setups marked beta are sustained observations but I'm unsure if they can be traded profitably in all kinds of markets. I may drop them in the future.
|Setup||Name||Trade type||Price Action Type|
|GRb1||Gap reversal b1||X -- Beta||Open|
|ib2||Inside bar b2||X -- Beta||Open|
|1Fb1||1st failure of b1||X||Open|
|2Fb1||2nd failure of b1||X||Open|
|1FBO||1st fbo of OR||X||Open|
|2FBO||2nd fbo of OR||X||Open||G||Gap|
|1W||1st Wedge of day||X||Open||R||Reversal|
|1TL||1st close at TL||X||Channel||T||trend|
|1CBO||1st channel BO||X||Channel||b||bar|
|1ib||1st inside bar||X||Channel||b1||bar 1|
|CXT||channel XT||X||Channel||1P||1st Pullback|
|fL2||failed L2||X -- Beta||Channel||OR||Opening Range|
|fL2||failed L2||X||Soft Trend||TL||Trend Line|
|STb||small Trend bar||X||Hard Trend||BO||breakout|
|Tb1||Trend from b1||X||Hard Trend||BP||breakout+P|
|2_1tF||2nd 1TF||X||Hard Trend||P||pullback|
|2SP||2nd shallow P||X||Hard Trend||XT||expanding TRI|
|1TAIL||1st Tail||X -- Beta||Hard Trend||TRI||Triangle|
|WP||Wedge pullback||X||Trend||BW||Barb Wire|
|TLP||P at TL||X||Trend||1TF||one tick failure|
|W||Wedge Reversal||X Rev||Trend|
|W1P||W + 1st pullback||X Rev||Trend|
|FBOFx2||FBO + FX2||X fBO||Trading Range|
|WFBO, DP||Wedge FBO||X fBO||Trading Range|
|TRI BP||Triangle BP||X BO||Trading Range|
|XT||Expanding Triangle||X BO||Trading Range|
|BWBO||Breakout from BW||X BO||BW|
Setups not listed above such 1Rev, A2, BO, etc are obsolete due to various reasons such as being incorporated into the list above, me not using EMA anymore and inconsistent profits.