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: A significant part of his strategy revolves around identifying key support and resistance levels. He explains how these levels can be used to make trading decisions.
: In an uptrend, the price attempts to rally but fails to make a new high (or in a downtrend, fails to make a new low) [5, 6]. : A significant part of his strategy revolves
: Price rallies to break the previous high but fails to sustain it, quickly reversing back below the prior high [5, 7]. : Price rallies to break the previous high
Enter as soon as the price returns below the prior high (for a short) or above the prior low (for a long). The Advantage: It was 2:00 AM, and outside, the city was asleep
The fluorescent lights of the downtown investment office hummed with a sound that always gave Elias a headache. It was 2:00 AM, and outside, the city was asleep. Inside, Elias was staring at a trading terminal that looked like a crime scene.
: The ultimate rule of trading. He argues that before asking how much you can make, you must ask how much you stand to lose.
He kept reading, highlighting a passage that felt like a punch to the gut.
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