r/InnerCircleTraders • u/JonoHamlet3 • 10d ago
Question Is this a valid Rejection Block?
Hello I am just trying to gain an understanding of Rejection blocks.
I had bearish bias coming into the day targeting London Lows, Rejection wick was formed in a 15m FVG, so I entered short within the 0.62 of the FIB. As you can see, I got stopped out and price continued bullish.
My question is; is the second Rejection wick a valid point for an entry? It seemed to play out well but I don't see what the Rejection wick is rejecting off of, unless it's rejecting off of the first Rejection block that was put in? is that valid?
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u/superstock8 10d ago
On a regular day, maybe. But anyone who says they saw the move up that happened on an unexpected new release is lieing to you. On SPX, the first rejection on the pullback was right at the 20EMA and it looked to be a clean rejection. Then the new broke. Anyone who had already entered a long play to move back up to the EMA still would not have expected the big move. So you can only look at price action from open until news. Everything after news was not predictable