Please see hourly example chart of Basic Market Maker 24 Hour Cycle: EurChf (1 Hour Chart)*Learn this 24 hour cycle if you scalp or day trade.
1) Tokyo- consultation
2) London- expand the range
3) New York- trend of day
*then price action repeats same cycle over and over..just there are different varieties of this cycle- so retailers need to be aware of these changes, on higher time frames of 4 hour, daily, weekly and monthly.
On attached one hour chart: You had three chances to sell EurChf during to days Marker Maker cycle, with proper risk management and stop loss.
In a downtrend, sell on a previous buy candle (green or blue on chart)- let price action comes to your trade, never chase a trade.
1) Tokyo- consultation
2) London- expand the range
3) New York- trend of day
*then price action repeats same cycle over and over..just there are different varieties of this cycle- so retailers need to be aware of these changes, on higher time frames of 4 hour, daily, weekly and monthly.
On attached one hour chart: You had three chances to sell EurChf during to days Marker Maker cycle, with proper risk management and stop loss.
In a downtrend, sell on a previous buy candle (green or blue on chart)- let price action comes to your trade, never chase a trade.