August 12, 2011
- in Uncategorized by schooloftrade
Day Trading the 10:30 Price Reversal
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| 10:30 Price Reversal Theory |
The 10:30 reversal is something that occurs in every liquid market, and has to do with the specific types of PEOPLE that are trading these markets throughout the US morning session.
Small retail traders, big-money paper traders, and everyone in between all work together to make this trading pattern happen very consistently every day.
– Developed for members of schooloftrade
– Come with membership
– Find the most important levels of support and resistance.
– I use ratios for my chart timeframes (89/55/34/21/13)
– I dont use Fib retracement levels or extensions because they have not been PROVEN.
– Once the price goes and tested that fib level, my auto levels indicator will locate it and mark it on my charts.
– Once its TESTED…it’s now PROVEN.
– Fibs are calculated from different price levels on your charts.
– We assume that not every trader is using these SAME EXACT LEVELS.
– Once the level is tested, it becomes a swing high/low and I now have confidence to use it.
– Other levels that I don’t trust… (anything with a calculation, rather than an exact price level
o Fibs
o Pivots
o Market Profile VAH/VAL
o Moving Averages
– I trust these levels all day long:
o HOD/LOD
