Following price action versus what you think price action will do are two completely different concepts.
0:0 Monthy timeframe
0;47 Weekly timeframe
1:52 Daily timeframe
3:52 4hr timeframe
5:46 1hr timeframe
6;40 Bias for upcoming
Understanding these concepts to their core has cost me. I have benefited though from reflecting on the outcomes of these two concepts. Price action will often times clue you on what will happen next. To listen to the price will take time and because you will be inclined to impose your beliefs on the market and invest your energy into solving, well, the wrong problems. Observing where candles close and understanding the nature of volume surrounding 1hr and 4hr candle closures is very important. These concepts make up the core of intra-day trading in the forex market. With that said, I am anticipating a bit of a retrace towards our previous daily resistance zone that may facilitate more longs. Our previous daily resistance was 1.0726 and it can now be characterized as Daily support since market structure flipped on the daily timeframe to bullish.
0:0 Monthy timeframe
0;47 Weekly timeframe
1:52 Daily timeframe
3:52 4hr timeframe
5:46 1hr timeframe
6;40 Bias for upcoming
Understanding these concepts to their core has cost me. I have benefited though from reflecting on the outcomes of these two concepts. Price action will often times clue you on what will happen next. To listen to the price will take time and because you will be inclined to impose your beliefs on the market and invest your energy into solving, well, the wrong problems. Observing where candles close and understanding the nature of volume surrounding 1hr and 4hr candle closures is very important. These concepts make up the core of intra-day trading in the forex market. With that said, I am anticipating a bit of a retrace towards our previous daily resistance zone that may facilitate more longs. Our previous daily resistance was 1.0726 and it can now be characterized as Daily support since market structure flipped on the daily timeframe to bullish.
Comment:
Comment:
Price is bouncing off daily support level 1.0726 late in the day pn the tuesday daily candle
