I think one of the most important things a technical trader like myself can keep in mind, is that at the end of the day it is not SR levels, moving averages or Fib replacements that make the market move, it is people.
I can guarantee there were many traders comfortably sitting on their bear position who got absolutely destroyed due to this news that dropped. Liquidity blew out and stops would have been smashed through without mercy. The attached chart (under related ideas) shows the importance of researching news before committing to a trade, or when trying to decide to exit a successful trade.
I can guarantee there were many traders comfortably sitting on their bear position who got absolutely destroyed due to this news that dropped. Liquidity blew out and stops would have been smashed through without mercy. The attached chart (under related ideas) shows the importance of researching news before committing to a trade, or when trying to decide to exit a successful trade.
