Retest and Retracement Trading Strategy

In forex trading, there are terms retest and retracement that traders may often hear. What do retests and retracements mean?

Retracement

A retracement is a price movement that goes against the trend in a short period of time. Broadly speaking, a retracement is a condition for a temporary or temporary reversal of direction to then continue the previous initial condition.

Some examples of recognizable retracement signs are:

1. The occurrence of profit taking by some traders. However, these traders are only a minority. Meanwhile, the majority of traders maintain their positions because there is no news or events that indicate that the trend will reverse direction, so that the trend will return to its origin when the correction caused by the profit taking of some minority traders has been completed.

2. The price is near a certain psychological level, but that psychological level is not an important resistance level in the long term.

3. Does not have a specific form of candle pattern and price pattern or often also has a light impact candle pattern, such as a single or double candlestick pattern.

4. Does not have the form of a price pattern of significant significance, such as those in reversal signs.

Retest

The price returns to the support resistance after a successful break or stop the trend (bearish or bullish). The return of the price is referred to as a retest which means ensuring that the seller / buyer is exhausted and the price will reverse direction.

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