Issue 42 – Market Magnets

July 20, 2021


Determining how far a market might correct can be challenging. Get in too soon, and you’re underwater in no time. Get in too late, and your risk to reward ratio becomes unfavorable.

While nobody knows where a trend will reverse, there is an easy way to identify areas that act as “magnets”. They pull the price toward them and often trigger a reversal.

Today, I’ll share with you the technique I use to identify these areas and how to leverage the market’s memory to help time your entries and exits.

Let’s go!

Using “Event Areas” as Price Magnets

Markets never forget. They love to retest prominent trend lines, yearly opens, and especially areas of previous consolidation.

Today, we’re going to discuss the latter. I like to call these event areas or zones.

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Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast. My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig. The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight. Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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