Price Action - NQ II
- Thread starter lajax
- Start date
The first failure
Although I’m aware of the continuity of the price I haven’t seen the Price action in this way when I’m looking for trades, it really open my mind thank you.
Therefore following your example and your line of thought this could be also consider as a failure?:
And the other question is: when you see this action would you classify under a RET or a REV (RET with microscope
)?BTW: Sorry, sometimes my answer is late because, English is not my native language therefore I have to take my time in order to answer, formulate a question or participate ---- anyway thanks
Although I’m aware of the continuity of the price I haven’t seen the Price action in this way when I’m looking for trades, it really open my mind thank you.
Therefore following your example and your line of thought this could be also consider as a failure?:
View attachment 150792
And the other question is: when you see this action would you classify under a RET or a REV (RET with microscope
BTW: Sorry, sometimes my answer is late because, English is not my native language therefore I have to take my time in order to answer, formulate a question or participate ---- anyway thanks
First, you never should feel the need to apologize for your communication skills. Doing so makes guys like me who are only fluent in one language feel intellectually lazy
As to your chart and your questions, every trade opportunity, imo, is a reversal, which is to say that price fails to continue doing whatever it was most recently trying to do or expected to do. What is most important, imo, is not whether you call it a reversal, a failure, or a retracement. What is most important to me is the simple fact of the higher low after the test of the what I believe was the overnight low. Also, there was an attempt by the market to put in a swing low several bars back. The market broke that low but reversed immediately. This, to me, is a case of the dog not barking (I assume you know what I mean when I use that phrase - if not, ask DbPhoenix - he came up with it and he explains it much better than I).
First, you never should feel the need to apologize for your communication skills. Doing so makes guys like me who are only fluent in one language feel intellectually lazy
As to your chart and your questions, every trade opportunity, imo, is a reversal, which is to say that price fails to continue doing whatever it was most recently trying to do or expected to do. What is most important, imo, is not whether you call it a reversal, a failure, or a retracement. What is most important to me is the simple fact of the higher low after the test of the what I believe was the overnight low. Also, there was an attempt by the market to put in a swing low several bars back. The market broke that low but reversed immediately. This, to me, is a case of the dog not barking (I assume you know what I mean when I use that phrase - if not, ask DbPhoenix - he came up with it and he explains it much better than I).
Got it.
Again thank you so much
