c. For price action trading. No need to refer any books.I tried Albrooks and YTC. Too complicated. Everything can be found in this forum only.If one digs deep enough it is a goldmine.
a . One can never know in advance if it is going to be a big movement day or not one should take all the signals as it comes.Also one of the quotes which is etched in my mind deeply is the one by STda
"5th June 2011
We should take all trades with the belief that they will be big winners.....but manage all of them with extreme care in such a way that any of those trades can lose and we don't want a single big loser."
b. Look at the Day 1 Candle it closed in the red. Many people would be holding short. Day 2 Opened halfway up over the Day 1 range. it even went low traders would have added more shorts.
after that it started moving up and then all the previous day short would start covering.Once it goes up above Day 1 More longs would have jumped in taking it much higher. Similarly opposite is true.
Examples of Flip open days from short to long.
16 Nov 2017
29 Jun 2018
29 Oct 2018
3 June 2019
a . One can never know in advance if it is going to be a big movement day or not one should take all the signals as it comes.Also one of the quotes which is etched in my mind deeply is the one by STda
"5th June 2011
We should take all trades with the belief that they will be big winners.....but manage all of them with extreme care in such a way that any of those trades can lose and we don't want a single big loser."
b. Look at the Day 1 Candle it closed in the red. Many people would be holding short. Day 2 Opened halfway up over the Day 1 range. it even went low traders would have added more shorts.
after that it started moving up and then all the previous day short would start covering.Once it goes up above Day 1 More longs would have jumped in taking it much higher. Similarly opposite is true.
Examples of Flip open days from short to long.
16 Nov 2017
29 Jun 2018
29 Oct 2018
3 June 2019