Kardex Trader explains a price-action strategy for falling markets: wait for price to hit roughly the 50% retracement of a range, then trade in the direction of the downtrend. If price fails to hold that level, expect a reversal. Avoid fighting the overall trend.
price is tumbling. Yeah. All I want to see is price trade into 50% of the range here and then 50% of this range. Yeah. And all I want is this move right here, because at that point, if this is going to continue to here, great. If it's not, it's most likely going to reverse from here. So all I need is this move right here. I don't need to trade from here to here because this is a risky move, and I don't need to try and grab this because this is fighting the overall downtrend
