structure based trade and top down analysis
Updated
hey guys,
one more example on how we can apply a combination of multiple timeframes for market analysis and trading.
on a daily timeframe we see that the market is very close to a decent level of structure,
and continues bearish movement in a small parallel channel.
on a 4h chart what we do is we identify a potential reversal zone:
a range between upper and lower levels of support.
In this zone we will anticipate the change of the sentiment.
For confirmation, we will be looking for a bullish violation of this channel.
Initial target will be based on structure.
Your stop will be below the potential reversal zone.
good luck!
Order cancelled
breakout earlier that expected
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