If you look at the daily/weekly it looks like its aggressively pointing south. Still expecting shorts as the optimal direction to ride.
Note the lowest volume of the day and how price rips through these areas almost at the same time every day. This is the chart achilles heel in Forex and Futures. Crypto is a little bit less consistent but some of the BTC futures charts have been following regular session patterns (another key give away that Smart money controls the crypto market).
But we will see. These are just target areas. price needs to get to these targets and behve a certain way for it to be confirmed.
The patterns repeat.
(extra tips)
1- (RSI Settings)
RSI Trigger backup:
RSI iis set to 7 (versus 14)
Overbought at 75 (supply line)
Oversold at 25 (demand line)
ON THE 15 MINUTE
If the background is short, RSI MUST be above the center line and/or the 75 line before the trade is worth shorting
If the background is long, RSI MUST be BELOW the center line and/or the 25 line before the trade is worth taking
2- In FX the daily shows you where priice wants to go and where it wants to stop.
3- When using the 1 hour and 15 minute, The SESSION divider is one of the most important indicators on the chart. It s a FIXED area of the chart that we can accurately predict every day. The volume that the session divider crosses is the LOWEST VOLUME of the day, every day. This is an important piece of information
4- Price is ALWAYS going to look for the path of least resistance. Meaning, the areas of low volume pressure... where is the lowest volume of the day... at the session divider. You need to use volume to see it but dont necessarily need volume if you use your session divider.
The information is all on the chart. I dont need to prove it to you because it proves itself. Just look. The volume moves in waves. The crest s high volume and the trough is the lowest. The trough of the wave iis LOW PRESSURE and the crest iis HIGH PRESSURE. Price ALWAYS moves from the high pressure areas through the low pressure areas until it finds enough pressure to stop the move.
Check out the book "mastering the markets" by Tom Willians
And check out all of Pete Faders VSA videos for free on Youtube if you want to learn and have time to do so.
Note the lowest volume of the day and how price rips through these areas almost at the same time every day. This is the chart achilles heel in Forex and Futures. Crypto is a little bit less consistent but some of the BTC futures charts have been following regular session patterns (another key give away that Smart money controls the crypto market).
But we will see. These are just target areas. price needs to get to these targets and behve a certain way for it to be confirmed.
The patterns repeat.
(extra tips)
1- (RSI Settings)
RSI Trigger backup:
RSI iis set to 7 (versus 14)
Overbought at 75 (supply line)
Oversold at 25 (demand line)
ON THE 15 MINUTE
If the background is short, RSI MUST be above the center line and/or the 75 line before the trade is worth shorting
If the background is long, RSI MUST be BELOW the center line and/or the 25 line before the trade is worth taking
2- In FX the daily shows you where priice wants to go and where it wants to stop.
3- When using the 1 hour and 15 minute, The SESSION divider is one of the most important indicators on the chart. It s a FIXED area of the chart that we can accurately predict every day. The volume that the session divider crosses is the LOWEST VOLUME of the day, every day. This is an important piece of information
4- Price is ALWAYS going to look for the path of least resistance. Meaning, the areas of low volume pressure... where is the lowest volume of the day... at the session divider. You need to use volume to see it but dont necessarily need volume if you use your session divider.
The information is all on the chart. I dont need to prove it to you because it proves itself. Just look. The volume moves in waves. The crest s high volume and the trough is the lowest. The trough of the wave iis LOW PRESSURE and the crest iis HIGH PRESSURE. Price ALWAYS moves from the high pressure areas through the low pressure areas until it finds enough pressure to stop the move.
Check out the book "mastering the markets" by Tom Willians
And check out all of Pete Faders VSA videos for free on Youtube if you want to learn and have time to do so.