Spike And Ledge

By Lawrence

Part of Art of Chart Reading

Summary

Spike and ledge is a terminal pattern that happens more often in indices and post news shock environment. The concept is simple and easy to follow. It is one of the best short term trading patterns in terms of risk reward payoff.

Traders have given this pattern many names. I prefer calling this pattern Spike and ledge because I finally took the time to explore this pattern extensively after reading about it from the book Street Smarts written by Linda Bradford Raschke and Laurence Connors. Keeping the name as Ms. Raschke calls it is my way to honour her as one of the few educators in the financial industry whom I respect.


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