Practical Exercise - Understanding Fractal NatureMarket develops in FRACTALS.
Understanding how each timeframe is developing is important in timing our trade entries. When we decide to take any trade, we now have a better understanding and expectation of our trades.
Practical Exercise
1) Find an example where the two timeframes' bias are aligned.
2) Find another example where the two timeframes' bias are NOT aligned.
3) Keep trade of how these two examples develop.
Alphaplay
Practical Exercise - Identify 3rd Market ScenarioUnderstanding that market moves in an impulse or corrective nature, we can now further categorise market moves into 3 scenarios.
Here we will illustrate the 3rd scenario - an impulse move, followed by a crawling move.
Practical Exercise
1) Find an example of such scenario in the market. It can be any currency pair, any timeframe.
2) Record down what's the next move after this scenario.
3) Repeat this practice to gather a total of 10 examples.
*Refer to the first comment below for a sample of this practical exercise.