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.