Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that strong move now is a good entry.
Lets enter and place our stops underneath that strong zone, surely price will fly!
All the banks and the big investors see is a nice zone full of stop losses, great liquidity for the taking. Why would the banks try and fill their massive orders at a worse price, when they can manipulate it downwards and gain a much much better entry.
Trade smarter not harder. Follow the big money in the markets. Wait until the liquidity (stops) have been cleared out, then enter!
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that strong move now is a good entry.
Lets enter and place our stops underneath that strong zone, surely price will fly!
All the banks and the big investors see is a nice zone full of stop losses, great liquidity for the taking. Why would the banks try and fill their massive orders at a worse price, when they can manipulate it downwards and gain a much much better entry.
Trade smarter not harder. Follow the big money in the markets. Wait until the liquidity (stops) have been cleared out, then enter!