Hi there,
The famous saying I used to hear a lot when I first started was "Do not chase the market, let it come to you." However, the reality is that the market will not come to you, and your zones will not prove themselves to you. The market is impersonal; it will go where it wants to.
It will not show you buying or selling patterns, nor is it worried about the scenarios you may put in place in the case it does not react as you expected. All of it is subjective to your opinion, but none of that means the market is random since it is maneuvered through weighed pivots.
The market moves in structure, and the format of the market structure is this LH (L). This (L) is where the market makes a decision for a HL or LH on the close of each candle. It makes decisions for HL and LH based on information passed on from previous candles to the current; that information contains fundamentals, news, hype, and noise. But the true data that moves the market is hidden from you.
Volume measurements are passed down from one candle to the next. Some use COT, others VSA, to figure out the bias in it. So when most traders do chart markups, it is with the intention of seeing reaction on areas of support and resistance for a LH against it -or a HL against it, but that won't tell much unless it aligns with technical script indicators. You should have no delusions about a thing called the edge, and listening to some guru will not help you in the long run. You'd have to stay focused, study, and accept that losses do occur in the market, as well as how to manage risk responsibly.
The market can lie; as it appears here. It looks bearish, but again, it looks bullish. The market can even cause good scripts to give false signals, meaning that following the market price alone is neither a good idea nor all that beneficial for you as that can mislead you.
At the end of what seems to be wave 5, the AUDUSD has three potential bullish targets.
The famous saying I used to hear a lot when I first started was "Do not chase the market, let it come to you." However, the reality is that the market will not come to you, and your zones will not prove themselves to you. The market is impersonal; it will go where it wants to.
It will not show you buying or selling patterns, nor is it worried about the scenarios you may put in place in the case it does not react as you expected. All of it is subjective to your opinion, but none of that means the market is random since it is maneuvered through weighed pivots.
The market moves in structure, and the format of the market structure is this LH (L). This (L) is where the market makes a decision for a HL or LH on the close of each candle. It makes decisions for HL and LH based on information passed on from previous candles to the current; that information contains fundamentals, news, hype, and noise. But the true data that moves the market is hidden from you.
Volume measurements are passed down from one candle to the next. Some use COT, others VSA, to figure out the bias in it. So when most traders do chart markups, it is with the intention of seeing reaction on areas of support and resistance for a LH against it -or a HL against it, but that won't tell much unless it aligns with technical script indicators. You should have no delusions about a thing called the edge, and listening to some guru will not help you in the long run. You'd have to stay focused, study, and accept that losses do occur in the market, as well as how to manage risk responsibly.
The market can lie; as it appears here. It looks bearish, but again, it looks bullish. The market can even cause good scripts to give false signals, meaning that following the market price alone is neither a good idea nor all that beneficial for you as that can mislead you.
At the end of what seems to be wave 5, the AUDUSD has three potential bullish targets.
Trade closed: target reached