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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.