little thread about HTF and LTF levels and what they mean in context.
If you like to read more such threads don't hesitate to shoot a comment.
- chart currently shows highest weekly close on top and bottom aka supply and demand.
- the long wicks above and below do not usually make sense to the untrained eye.
- using multiple time frames we can dig deeper into price action and make use of key levels of support and resistance giving us an idea about where price might move next.
Comment
⋅
Looking at the same chart on a daily level i have marked a box to visualize what was noise on a weekly level
Comment
⋅
marking key levels on a daily chart D1 narrows down and area and gives us an indicator that helps with planing our next move
Comment
⋅
in this daily view the weekly level in blue and daily level are overlapping
Comment
⋅
should our daily candle close above this level we have got a quite good signal that this move to the upside might continue either directly our with a retest of the breakout line.
Comment
⋅
let's dig a little lower and look for possible entries
Comment
⋅
some schools of thought will see a symmetrical or ascending triangle here followed by a breakout and retest. Personally i see price action chopping around a key level on lower time frame that could give me signal for further continuation.
Comment
⋅
while i do suggest to only trade big times frames only i do know that many are struggling with this by checking lower time frames constantly.
Comment
⋅
i hope this little thread give some of you an idea about how to better check multiple time frames , better entries and a better over all understanding of market structure.