Mike Lenahan asked 6 years ago Hi Pat -
Reviewed the KEY List this evening, and you heightened my curiosity with regard to your "Drop and reversal" setups.
What is it about taking out the previous days low, before turning around and going back up, that makes this special?
Does this give strength to the setup that would be better than simply going up and taking out our target entry point?
Does it need to simply take out the low by a few ticks, or is there a minimum penetration needed?
What is the trading psychology behind this move? As always, thank you! Mike
Does this give strength to the setup that would be better than simply going up and taking out our target entry point?
Does it need to simply take out the low by a few ticks, or is there a minimum penetration needed?
What is the trading psychology behind this move? As always, thank you! Mike
1 Answers
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