Jesse Rogers trades the failure of support and resistance levels. Mark yesterday's high and low, watch for a weak reaction at market open, then enter on a bearish engulfing candle after the swing-high breaks. Target the next level down.
I pray that my trades fail. Because what if I told you that when your trade fails? Well, that's actually the market giving you an even better opportunity. Give me 30 seconds and I'll prove it to you. Start by marking out the previous day's high and low and then the previous sessions high and low. Then comes 9:30am and you wait for price to trade to one of these levels. Here it traded to the previous sessions low. But notice how price isn't really showing any strength and that weak reaction tells me that this level is going to fail. And when it does, I know exactly where price is heading next. The previous day's low. So I wait for price to form and take out a swing high. Then create these bearish engulfing candles and I enter the short immediately after and target the previous day's low. Because when one level doesn't hold, the move to the next level is going to be explosive. Now save this post because when your friends ask you why you're making so much money trading, you want to forward them this strategy.
