I care about where candles close! 😂
0:0 Monthly timeframe
0:53 Weekly timeframe
3:47 Retail Sales & Manufacturing data
4:31 Daily timeframe
6:29 4hr timeframe
9:22 1Hr timeframe
9:40 Bias
12:14 be flexible
I pay attention to where candles close. Yes, it is important, because this is the concept that really validates any data collection during backtesting. No indicators needed, just paying attention to how candles close relative to our key zones AKA levels. 1.09 is a key area for us. Thus far, we have done an impressive job of closing above 1.09. As long as we stay within a vicinity of 1.09, my bias this week and the next will remain bullish. I like support and resistance bounces as it's a fundamental part of my system.
0:0 Monthly timeframe
0:53 Weekly timeframe
3:47 Retail Sales & Manufacturing data
4:31 Daily timeframe
6:29 4hr timeframe
9:22 1Hr timeframe
9:40 Bias
12:14 be flexible
I pay attention to where candles close. Yes, it is important, because this is the concept that really validates any data collection during backtesting. No indicators needed, just paying attention to how candles close relative to our key zones AKA levels. 1.09 is a key area for us. Thus far, we have done an impressive job of closing above 1.09. As long as we stay within a vicinity of 1.09, my bias this week and the next will remain bullish. I like support and resistance bounces as it's a fundamental part of my system.
Comment:
Price pulled up as anticipated away from our weekly level 1.09. Retail sales pulled back hard initially with good USD data but the move was duly corrected back to the upside as once again price found support at 1.09 weekly level. Fundamental news versus strong key level, Key level has won in the short term here.
