How price action works.
If price is from a strong downtrend and it creates a key level, it will start retracing and if it does not form an engulfing candle or a shooting star at resistance or a candle that is 50 percent of the bearish candle or above 50 percent, it will come back to test that zone and even create a lower low, and if it does again it will do the same thing and still test that zone. So we have to wait for the retest and a confirmation candle or pattern so we can get in. Pure price action.
Take note that, price action repeats itself all the time. Look for awhere the market has created a level on the 4hr timeframe nothing less, because the 1hr does not hold enough confluences for price action trading. Thanks please leave a like and follow me please it will be of help.
Take note that, price action repeats itself all the time. Look for awhere the market has created a level on the 4hr timeframe nothing less, because the 1hr does not hold enough confluences for price action trading. Thanks please leave a like and follow me please it will be of help.
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