As I was marking up support and resistance, I was able to identify structure that I like to call "mountains", that are getting lower; helping me to confirm the direction of the trend. Before hopping into this pair; I noticed that the previous support was constantly being violated, confirming the bearish trend. I am currently waiting for the previous resistance...
Technical Analaysis 1st Make up support and resistance to identify structure and market direction 2nd Make up your highs and lows 3rd: Find your kill zone 4th: Find your entry point 5th: Find your take profit
Technical Analaysis 1st Make up support and resistance to identify structure and market direction 2nd Make up your highs and lows 3rd: Find your kill zone 4th: Find your entry point 5th: Find your take profit
Blue lines are structure. It helps identify which way the market is going. Red Lines = resistance.. Creating higher lows. Green lines = suppor. & the support is considered as the lower lows. NEXT! We have that purple box... inside that box is a pin bar which is a sign of a potential reversal... Price reversed back into a bullish (buy move) Then it created the...
I like to identify structure by marking up support and resistance. Then I predict which way the market is going (is it bullish, bearish, or consolidation). I look for a bullish or bearish trend failure and decide what I want to do and then execute the trade. I saw that the momentum of the candlestick was starting to increase which is why I got in for a sell after...