Retest
Lesson summary:
The lesson is about retests in technical analysis, specifically the dilemma of trading retests versus breakouts. The video discusses the basic premise of breakdowns and re-tests, as well as defining these terms. The types of retests are outlined, including immediate versus rounded, and extra considerations are given for assessing whether to trade the breakout, retest, both, or neither. The importance of context and time frames is emphasized, as well as the idea of hidden re-tests. The lesson also cautions against relying too heavily on trading education that prescribes a one-size-fits-all approach, as well as the importance of accepting missed trades as a normal part of trading. The precision of entry is inversely correlated with the significance of the level or structure being traded. The video provides examples using bitcoin and other charts to illustrate the concepts.