Bullish and Bearish... Which way to Trade?
Updated
The pair is Bullish on the 1 hour. With the breach of our zone and PB of the 1 hour timeframe from yesyerday, as is clear that the 1 hour chart has reversed from a bearish perspective to a completely Bullish one.
The only trouble here is the on the larget timeframe of the 4 hour and above, the market is still bearish as the Bearish PBs are still in place.
It would therefore be more comfortable to consider the 1 hour bullish impulse as a retracement on the larget timeframe.
Be that as it may, because we are looking to trade the 1 hour chart, though in the direction of the higher timeframes, we will narrow our attention to just the 1 hour for now and monentarily forget about what the larger timeframes are saying.
We will be looking to see prices retrace Bearish into our PB and the marked zone. When market reaches our zone, we will use the Panzy Pips formula to confirm a Bullish reversal, following which we will apply one of the Panzy Pips trade entry methods to take our trade.
The only trouble here is the on the larget timeframe of the 4 hour and above, the market is still bearish as the Bearish PBs are still in place.
It would therefore be more comfortable to consider the 1 hour bullish impulse as a retracement on the larget timeframe.
Be that as it may, because we are looking to trade the 1 hour chart, though in the direction of the higher timeframes, we will narrow our attention to just the 1 hour for now and monentarily forget about what the larger timeframes are saying.
We will be looking to see prices retrace Bearish into our PB and the marked zone. When market reaches our zone, we will use the Panzy Pips formula to confirm a Bullish reversal, following which we will apply one of the Panzy Pips trade entry methods to take our trade.
Trade closed: target reached
According to our predcition, price moved North to hit our 1 hour Liquidation Target. It moved without coming into our zone. This happens a good number of times. Because of this failure of the market to get into our zone, we were not able to catch that move up.
Trade swing is complete, and mow we move on to the next.
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