What Makes a Good Reversal Trade?

Podcast:

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#471: What Makes a Good Reversal Trade?

In this video:
00:24 – What do we look for when looking for a reversal trade?
01:08 – Getting ready for a new trade
01:26 – What exactly are we looking for?
03:13 – Don’t forget to look at the price
05:00 – Bollinger bands give us more clues
06:45 – We trade Reversals and Continuation Patterns
08:30 – Blueberry Markets for MT4 and MT5
09:13 – Look at my 5 Star Rated Forex Coaching Program

What clues do we look for to suggest that a trend is about to reverse? Let’s talk about that and more right now.

Hey there, traders. It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 471.

What do we look for when looking for a reversal trade?

Want to talk about reversals today and what constitutes a good reversal, what do we look for to suggest that a reversal is about to take place.

You can use this in many different ways. You could use this, let’s say, you were in a buy trade and the market’s moving up beautifully. It hasn’t quite got to your profit target, let’s say, and you might see some form of indication that the market is about to reverse against your long or your buy position. That’s something that could help you to suggest to either get out of the trade altogether early, or maybe partially close from trade, or maybe move to stop loss. But there’s clues there that I’m going to talk about that can help protect that trade if you are already in a trade.

Getting ready for a new trade

If you’re not already in a trade and you’ve seen the market moving up and you’ve missed that trend, but all of a sudden, you now see a few clues that I’m going to mention that will help you to take a short position against that uptrend, then that is also a very good trading opportunity.