Coined by the famed trader, Joe Ross, the Ross hook may not be the most well-known chart pattern, but it is one of the most frequent and reliable patterns that day traders and swing traders can use to exploit short-term market opportunities. Ross hooks are simply pullbacks that occur after having made a breakout (toward the upside or downside) continuing the current trend. Sounds easy? Well, it is, and that’s what makes the pattern both reliable and effective. Better yet, these patterns show up almost everywhere and in every time frame, expanding a trader’s horizon of opportunity. How do you trade it? Enter upon a breakout of the hook.
