Keys to the PROFITABLE TRADING I. - Quick Rejections I.
Key Ideas:
1. Many traders are trying so much to FIND a trade.
2. In markets there are lots of random moves.
3. If you are in doubt, wait for the Price Action at Quick Rejection.
How does the Quick Rejection look like:
- ideally there is quick move UP and right after that DOWN
- but even a quick move back is enough
Why to watch this areas:
- quick rejections represent prices where buyers and sellers were in a huge imbalance
- we as traders just have to analyse the price action when price will go back to the previous point of quick rejection
-> is the imbalance still in play or not? This is THE QUESTION.
Look at the chart:
- most of the trend reversals occur at the previous point of a quick rejection
- many of strong with trend corrections occur at the previous point of a quick rejection
MORE IDEAS IN THE NEXT CHAPTER.
THANKS FOR READING.
Paul
1. Many traders are trying so much to FIND a trade.
2. In markets there are lots of random moves.
3. If you are in doubt, wait for the Price Action at Quick Rejection.
How does the Quick Rejection look like:
- ideally there is quick move UP and right after that DOWN
- but even a quick move back is enough
Why to watch this areas:
- quick rejections represent prices where buyers and sellers were in a huge imbalance
- we as traders just have to analyse the price action when price will go back to the previous point of quick rejection
-> is the imbalance still in play or not? This is THE QUESTION.
Look at the chart:
- most of the trend reversals occur at the previous point of a quick rejection
- many of strong with trend corrections occur at the previous point of a quick rejection
MORE IDEAS IN THE NEXT CHAPTER.
THANKS FOR READING.
Paul
Penafian
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