Price Action Trading: How to Know When the Previous Level is TRULY Broken: The first major step for successful price action trading (3 Fundamental Elements of Successful Price Action Trading Book 1)
The book has been updated to include more necessary diagrams (in response to customers review) to enhance simple, fast and clear understanding of the very significant insight presented in this book.
The biggest challenge of Price Action trading is how to know when the trend is reversing or settling into a range. But without crystal clarity on the 2 major factors that defines trend continuation namely; when is a retracement formed and secondly, when is a new high created in a buy trend or new low in a sell trend, you will always make easy, simple but totally avoidable trades that losses you money.
I can tell you authoritatively that you cannot trade price action very successfully if you don’t know this small little tiny detail. You will keep falling prey to trends fake outs and news spikes.
I have been there, sweated it out on trading price action and losing out-rightly after doing everything right to trade with the trend, my supposedly best friend in trading.
I had read alot of materials but none seems to have a precise solution for me. I was about giving up and simply follow the expert advice by making my stop loss system more stringent when it jumped out at me from the charts that i was READING THE TREND RATHER WRONGLY!
I was taking a false high for a break of the previous high (or low in a sell trend). Trust me the market actually created new levels so I wasn’t making an obvious mistake.
What I realized was that every new high or level does not qualify as the higher high or lower low. This book is about how to know very specifically, what new levels should be taken as the higher highs and lower lows of a trending market.
What did that discovery do for me?
1. I started having more accurate entry points.
2. fake-out by trends going nowhere stopped.
3. Since price action trading is totally technical analysis, I became more immune to sporadic price movement caused by news and data releases that tend to spin the trend over SUDDENLY.
4. Bottom line, I have been much more successful.
You too will be, GUARANTEED. Provided you do not underestimate this very tiny detail.
It’s short, sharp and straight to the lesson. The first in the series.
If you want to know exact solutions that would increase your wining trades and drastically reduce your losing ones (if you trade price action), then this book is written for you.
The book has been updated to include more necessary diagrams (in response to customers review) to enhance simple, fast and clear understanding of the very significant insight presented in this book