I forgot to add to this commentary, so I will here... Your HIGHEST probability entry is not from the initial move that I showed you above... your actual highest probability of success (especially as a newbie) is to wait for the retest. Go back and look at the setup in that video, and then look at the retest candle... that retest, where the candle tail pokes up into the large transaction tail is a "retail flush" and it is used by the MM to fulfill any remaining orders from the large seller (the MM is "clearing" inventory -- meaning, run the price up, sell the remaining inventory at the last known liquidity point) and...well then the MM just pulls the bid, and traders like me start hitting the bid hard... which is why you get the price reversal. So, in short... wait for that retest... that is the correct, disciplined way to do it (even though my aggressive way I showed you is something I learned to do with experience) TraderFred
Awesome thank you for sharing Fred! Very practical. Love it.
As a beginner this is what I needed. A place to start the process. Thanks man!
Thank you so much for this Fred. God Bless.
I forgot to add to this commentary, so I will here...
Your HIGHEST probability entry is not from the initial move that I showed you above... your actual highest probability of success (especially as a newbie) is to wait for the retest. Go back and look at the setup in that video, and then look at the retest candle... that retest, where the candle tail pokes up into the large transaction tail is a "retail flush" and it is used by the MM to fulfill any remaining orders from the large seller (the MM is "clearing" inventory -- meaning, run the price up, sell the remaining inventory at the last known liquidity point) and...well then the MM just pulls the bid, and traders like me start hitting the bid hard... which is why you get the price reversal.
So, in short... wait for that retest... that is the correct, disciplined way to do it (even though my aggressive way I showed you is something I learned to do with experience)
TraderFred