All news priced in, weekly tells us if you connect the bottom close and latest opening, you can see a generalised idea of uptrend. And prices above it, being over bought and that below it, being over sold. As it continues to go up, the close information helps us plan for the months ahead of trading.
If weekly is in an uptrend, its very likely that daily would be too. And if not, we wait for a day where it does and that's when we place our buy entry. Trend is your friend. And it's really risky to go against it.
After checking the trend line before you go d1, look at the bars, the bar itself is a summary of the trend itself where you can use the close as the mean and anything above it is over bought and below it as over sold too. It gives you a range to play with for the week. If the opening to close is going up, then, it's still trending up.
All of these works together hand in hand
If weekly is in an uptrend, its very likely that daily would be too. And if not, we wait for a day where it does and that's when we place our buy entry. Trend is your friend. And it's really risky to go against it.
After checking the trend line before you go d1, look at the bars, the bar itself is a summary of the trend itself where you can use the close as the mean and anything above it is over bought and below it as over sold too. It gives you a range to play with for the week. If the opening to close is going up, then, it's still trending up.
All of these works together hand in hand