for NinjaTrader® – Forget Squiggly Lines!
Bull gap, mid range, misplaced RVB, OR, XT, mDT, fBO HOY, SHS, mW, 1tF EB, SC, H2, BB, HH MTR, fBO, LH MTR, DB
FOMC report
daily chart
Always In Long (AIL) since 01/04
Sellers at the 12/19 lower high
bulls managed to close above HOY, not above the open though
forming a bear RVB
we met the target, I mentioned a couple of days ago
Confluence is very important in trading and means to have several (at least two) reasons to take a trade. Your 1st reason is the reversal signal bar/pattern and your 2nd reason can be e.g. support at HOY/LOY/COY, measured moves, trend line / trend channel line overshoot, buying/selling pressure, tick failure breakouts, breakout tests, a 2nd attempt to reverse and many more.
Continue reading “Look for confluence, when trading a reversal”