DislikedEdges in trading?
Here I share some of mine :
1. Most of the time, price always move in 2 direction, up and down simultaneously
2. My broker who provides leveraged account type
3. Market is being moved by people, most of them are viewing charts, any kind of chartsIgnored
In a DECLINE the high price extreme (or established session high so far as some refer to it) remains static (does not get higher) and will not until the market has found support on its current decline (has moved down to a price beyond which it can go lower). While in decline then all attempts to rise should result in lower highs below the session high extreme. So any move UP aginst the DECLINE is just retracement and is normal. It is these moves UP against the decline that may offer further opportunties to SELL into the decline until it notifies a conclusion (support).
In a RISING market the low price extreme (or established low so far) remains static (does not get lower) and will not until the market has run into resistance on its current rise. While rising then all attempts to decline should result in higher lows above the session low extreme. So any move down against the RISE is just retracement and is normal. It is these moves DOWN against the rise that may offer further opportunties to BUY into the rise until the rise notifies a conclusion (resistance).
Pure Price Action trading allows you to have an informed idea about where that support or resistance may be encountered.............notified/confirmed by the extent of retrace against the current prevailing move.
Happy Trading
makingpips