This is my daily timeframe
analysis, for context this is my LTF
(Low Time Frame). I will be working with 3 time frames for my analysis, a LTF
(Low Time Frame), an ITF (Intermediate Time Frame), and a HTF (High Time Frame). As stated earlier my LTF
is Daily candles, my ITF is Weekly candles, and HTF Monthly candles. The HTF will be used to identify where we are in the price curve, the ITF to determine Trend, and the LTF
to determine Zones. Since i'll be starting with the LTF
I will briefly explain my conclusions from the ITF and HTF. On the HTF we can see that we are Low on the Curve and have bounced from a solid demand zone
formed a while back. On the ITF we can see the trend is mostly sideways with a possible higher low being made in the last couple days. If we make a higher high in the next 10 days or so, my ITF trend will be in an uptrend.
A weak Demand Zone
was formed on the Daily time frame, price spent too long in the Zone and was retested once so it is no longer Fresh. If price approaches this Zone again, it is likely to break and test the weekly Demand Zone
. As of right now it looks like price wants to test the upper levels again. I'll be looking to take Longs in the Demand Zones and Shorts in the Supply Zones, unless the Distal lines break.
Thanks for reading, the odd CAPS is to help with skimming.