Identifying Daily Reversal Points

Identifying Daily Reversal Points
November 21, 2014 Market Traders Institute

Article by Joshua Martinez published on Executive Trader

I want to make this really simple. If you think about it, as Forex traders, we only ever have two options in our trades. We can buy or we can sell in any given situation. If we were to boil down our trading to its very base, we are naturally given a 50/50 chance of getting our entry correctly placed for the market’s future direction if we simply guess and enter the market writes Joshua Martinez.

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Image courtesy of ExecutiveTrader.com

If you were given a quiz of nothing but true or false questions on a topic you’ve never heard of before, chances are, you’re going to fail that quiz (at least, if you are anything like me, you’ll fail that quiz). That’s just how life works when you’re forced to blindly guess about things when your chances of winning are equal to your chances of losing. Luckily for day traders, you don’t have to guess at the markets when you’ve learned the technicals. When you are no longer guessing, you shake up the 50/50 odds to now put the odds in your favor.

Stacking the odds in your trading favor is critical if you’re a day trader. Day traders must seek to identify daily reversal points that could secure a solid return on your investment. Within any given 24-hour period, the market will form a high of the day and a low of the day. Click here to read the full article on Executive Trader.

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