Hi,
I have attached a few charts of a reversal method I came across, I don't know how the method works the only thing I know about it is:
The bar prior to the entry closes close to it's high/low and the stops appear quite wide, that's all I can figure out. Anybody trade this way or know how this may work?
I have attached a few charts of a reversal method I came across, I don't know how the method works the only thing I know about it is:
QuoteDislikedIt finds areas in the trading day where the market needs to stop and reverse awhile. Too many banks or large individuals have poured on too much position size and/or tons of stops have been executed and the market needs to retrace. What really pays off is this method only tends to find very good risk/reward trades with extremely reasonable stops.
The bar prior to the entry closes close to it's high/low and the stops appear quite wide, that's all I can figure out. Anybody trade this way or know how this may work?
Attached Images
