Price Action of the Day
Eurex DAX
2min chart
Traders that prefer to trade trend continuations or price pullbacks that sets up a trend continuation often look for a minimum of consecutive higher lows.
However, not commonly discussed is that you want to see these higher lows retest a support area where a key change in supply/demand has occurred as did on this chart around 1254pm est and 1320pm est as revealed in tutorial chapter 12.
In addition, the higher lows become support areas too and that's exactly what the 1320pm est higher low did for the price action that retraced around 1408pm est to setup the big volatility spike to the upside via the FOMC rate announcement.
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Note: The "price action of the day" is just a simple trading tip (not an entry signal) that correlates with some of the concepts being taught in the strategies (VTR, STR, APAOR or AJCTR) and WRB Analysis Tutorials.
Simply, the purpose for this trading tip is to encourage questions by those that have a sincere interest in purchasing TheStrategyLab.com education materials to learn advance trading concepts and advance understanding of the price action.
Further, if you're already a fee-base client...do not join this discussion forum. Instead, if you have questions about this trading tip...post a link to this message post at your private forum for fee-based clients and I'll respond at your forum.
Regards,
M.A. Perry
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