The Candle That Tells You to Skip the Trade
One of my members, Nina, asked me about a loss last week and I want to walk through it because I think it happens to a lot of traders. The setup was great. It was a perfect entry, the level was narrow, and I coudn’t see anything wrong with it. But it still went red because news came out right around eleven o'clock and just sucked all the momentum out of the tape. That happens. You can't fight news, it's going to get you here and there and there's nothing to do about that one. But it got me thinking about what you can control, because there's a thing I look at on every single entry and I don't think enough people are looking at it. It's the wick. Quick refresher for anybody who needs it. Every candle has a body, which is where price opened and closed, and