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Implications of Key Levels & Price Exhaustion Overview

Main Points:

  • Price trades above a key area, buyers keep buying, price trades below a key area, sellers keep selling
  • Look for congregation or blocks of order flow and then confirm movement through subsequent activity
  • Be aware: draw trendlines and understand how they are being used on but a long and shorter term basis; everything happens for a reason
  • Watch price around certain times of day:1. what price is doing leading into it and 2.what happens at that approximate time
  • Boot pattern is caused by a spike/drive lower or higher; at the base or top a local significant high/low causes the consolidation
  • Use price symmetry to determine feasible price exhaustion points to avoid getting eliminated on premature fades

 

 

9 Comments

  1. May 21, 2010  12:59 pm by Alexander Reply

    Steve, I've been always amazed how clear, concise and practical your videos are. Each one has some truly golden "nuggets". Thank you for your effort!

  2. May 21, 2010  3:18 pm by Mark Reply

    hi, video doesnt work for me

  3. May 21, 2010  3:21 pm by nobrainertrades Reply

    Might have something to do with flash on your machine? Seems ok here.

  4. May 21, 2010  3:24 pm by nobrainertrades Reply

    (hat tip) Happy to help thanks!

  5. May 21, 2010  5:48 pm by crost Reply

    great video...
    thx alot

  6. May 22, 2010  2:23 am by prochargedmopar Reply

    I like it, combine with Chris's Price action info this is great stuff!!!

  7. May 24, 2010  8:35 am by @PLooB Reply

    Absolutely brilliant. I like how you go through PA on M1 and H1 TFs.

  8. May 24, 2010  6:53 pm by @plukin Reply

    I really wanted to watch over your shoulders for some time :) It's crazy! Remembering the price action how it was in real time..watching your video and I'm showed what was all there and suddenly it makes sence.. You know so much.. Love it, thanks
    But this one really got me "whenever you have no clue start drawing diagonal tl's" :D

  9. February 23, 2011  8:23 pm by Gary Reply

    As usual Steve......Great stuff!!!! Thank you for sharing!!!!
    Gary

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