A short transcript excerpt from a YouTube video by Kardec Trader about timing trade entries by waiting for chart-confirmed topping action rather than guessing tops. The speaker emphasizes waiting for additional confirmation (price structure and declining volume) before entering to avoid premature entries that later reclaim to new highs and cause drawdowns.
So I'm not trying to guess the top anymore. Like, is the top here? Is the top here? Is the top here? I don't know. And I'm not trying to guess. I'm going to let the chart form and show me where the top is. So what we do is we look for topping action. Most people would take this entry right here, but it's still not confirmed enough because a lot of these will reclaim and rip to new highs. Right. And then your entry is actually low, and you're drawing down on the position. So I will wait even further. That's a little bit more confirmation. And then I also want to see where's the volume? The volume is declining on this kind of pattern. Then there's a little bit more confirmation that this is the backside. The top is in.
