Today I just wanted to share with you one of the price action strategies I truly love, I like to call it “The Rejection”. Essentially what we are looking for in this particular strategy and example is a drop in price after heavy upward momentum in which a bar breaks and closes below the last green bar.
Once this occurs we wait for a pullback and for price to get rejected at the start of the candle which was had shifted the momentum by closing below the last green bar.
Once we see that three green 15 minute bars were rejected around that area, the 4th bar we would be taking a PUT immediately as soon as the candle opens as this is our opportunity to get in at a high probability “DROP” area.
Let me know what you all think about this by leaving a comment below!