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 "reversal". Reverse usually means a change in direction opposite of the original direction. Based on that definition, if price makes a new high and changes direction, then price has reversed. This is real not conceptual like support, resistance and trend which exist only in the mind of the trader. This definition of reversal is time frame independent. My indicators are real time gauges that tell me where price is relative to the current OPEN, HIGH and LOW. They do NOT lag like moving averages. I use them to monitor where price is relative to the daily and weekly open, high and low. I appreciate your civil reply.
To me, you may know price action but you do not know how to fully utilize it. speaking of the mind of a trader is it what makes price moves. but fair enough. your statement says everything of how you trade with price action. good luck with everything.
hehe, it's 'resting' is it, it's having a rest after a hard day moving up and down....lol, well ok then! Geez Avery buy a book or two about TA and the markets for crissakes, there are hundreds out there, or look around the net at the thousands of free sites and educate yourself about these subjects, it'll be time better spent than playing pirates that's for sure! It's no wonder you sell indicators instead of trading! This is so beyond funny it's actually quite sad in a way.....
Understanding it would be a start!! Catch you tomorrow guys, have a nice evening.....phew, I need a lie down in a dark room!
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 reading traditional trading books is of any use? You have got to be joking!! Based on empirical evidence, one would steer clear of what is being sold as trading education if they have at least 2 brain cells on active duty. I would rather "play pirates" and drain the banks than waste my time studying trading methodology (mythology) that is a proven failure.
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 model. It is really a pity you spend so much time putting me and others down, when you could take that same time and share the knowledge that you claim to have and help your fellow traders.
The answer lies in front of you. If you still don't get it. Do try trade and made consistent profit with your chart and nothing on it.
Once again, price REVERSED out of the area from the high of the day to high of the day minus 20 pips.