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what counts as Price level acceptance?


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mrchengan
austin texas
 
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I have seen many instances on twitter where people mention once price is accepted by certain level then target the next level. What determines if price is accepted/rejected? Is it by time? If price trade above certain level assuming bullish for longer than 30 min then that's considered accepted? Then you go long target next level and put stop loss below the acceptance level? Is that how most people like to trade their levels? I just don't see that details mentioned anywhere in writing or videos.


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 forgiven 
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time ... in general terms if price reaches a area and squats or goes sideways that is acceptances , if price goes flying back in the other direction quickly that is rejection . how long does price need to stay their if accepted ? it depends on the time frame you are drawing the reference area in . if its a weekly chart it can stay longer that if its a 5 min. chart . you will have to reviews the concept on different time frames and across different trading products . do not worry its not rocket science you will know it when you see it in a short period of time . hope it helps


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