Here’s a simple rule-of-thumb which I’ve found very effective over the years…

If price fails to do something twice, always consider the opposite.

“Something” refers an attempt at a significant move.

A break of a key level, for example. Or a break of structure.

Or, in this case, an attempt to push lower following a news release.

<image: If price fails to do something twice...>

<image: If price fails to do something twice...>

<image: If price fails to do something twice...>

<image: If price fails to do something twice...>

<image: If price fails to do something twice...>

If price fails to do something twice, always consider the opposite.

Keep this in mind as you look at price in the coming weeks.

Happy trading,

Lance Beggs

 


 

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