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Price made a new high, and is, uh hum, now moving in the opposite direction. Dare I say "reversing"?

I am not looking for an argument. You make a claim and I would like to know the answer. That's all. How do we fully utilize price action?

I use a M5 chart to time the entries.

Remember what H. Rearden said: "Now, 2 patterns of market behaviour happen on a regular basis: 1) the price breaks to new high's (or low's) 2) the price reverses from new high's (or low's)" RED RAT REVERSAL TRADE: If price is NOT making a new high then it must be reversing from...

Instead of focusing on me and my experience, just answer the question instead of avoiding it. Telling me that I "have no clue" is just a flame. You started this: so please finish it with an explanation of how to fully utilize price action. I am sure there are others who would like to...

Once again, price REVERSED out of the area from the high of the day to high of the day minus 20 pips.

Let's not play coy! I defined and explained my terms and methods. Please do the same.

cabletrader, if I were in the business of selling indicators I would: 1) have a website that sells indicators 2) sell each indicator individually Since I don't have 1 and 2, it should be plainly obvious that I am not in the business of selling indicators. What I do is not a business...

Geez cabletrader, enough already. If you don't believe I trade then come watch me trade. Plenty of people have seen me trade live. If 95% of traders lose and most fund managers can't beat the index when they have access to the best minds, equipment and information, do you really believe...

How does one fully utilize price action?

I know price action: 1) Price will either breakout of the high, low or both of the previous bar 2) Price will not breakout of the previous bar. You cannot reduce it any further. Anything else complicates the issue. It looks like we do not agree on how to define the term...

I use a M5 chart to time my entries.

Based on statistics, a frequency distribution in particular, when the GBPUSD makes a new high or low for the day, a retracement or reversal of 20 or more pips is highly likely. This can be exploited for profit.

cabletrader, I am sure you are aware that everything is RELATIVE. If price makes a high and drops 10 - 20 pips, what you would like to call that if not a reversal? If price makes a high and drops 20 - 50 pips, what you would like to call that if not a reversal? If price makes a high...

When it is not moving it is NOT MOVING. You could call it "resting" if you like. cabletrader, while you are poking fun at the facts there are people making money using these facts AND making money is the point of trading.

As you can SEE, price made a new high and reversed off of that high by over 50 pips.

cabletrader, you know price either moves up or down. If prices makes a new high and backs off, that is a reversal. Price continues to make new highs and reverse. Sooner or later, a big reversal happens and price will make new lows and the pattern reverses. Price continues to make new...

OFF TOPIC! You have not made any point.

If price is NOT making a new high then it must be reversing from the high. 1) price within 20 pips of the daily high - that is OPPORTUNITY 2) green candle closes 3) red candle closes - note the low price of the red candle. 4) enter short at the red candle's low price 5) STOP LOSS...

There are no issues to discuss nor have you proved anything other than your ability to go on OFF TOPIC rants. This topic is "EUR/USD & GBP/USD & AUD/USD Forex Trading". Do you have anything constructive to offer on this topic?