Nothing fancy guys! Simply using MARKET STRUCTURE. In this short example which was my live trade 8-19-2021 shows how market structure is a valuable indicator when trading. Not the ONLY indicator but very useful!
CHART DRAWING COLORS representation:
Daily Timeframe, the outline colors around boxes are BLUE
Red color; buy liquidity areas (rejection spots)
Light blue box with BLUE outline Daily TF; area shows where price was MOST recently rejected
4 HR TF purple single lines are key areas
Purple Dotted & Parallel lines were used to make a ZONE.
Purple Dotted line; was old resistance & support broken (in 4 TF)--this area was major in the 4 TF (price came to
Grey Parallel line used in 1 HR TF (key areas)
Light Blue box with Grey outline was a comeback spot in the 1HR TF
Green shade show a MAJOR buy area from the Daily TF
OKAY GUYS SO ABOVE WAS THE MARKUP PYSCHOLOGY
Now prior to taking this trade, the Daily TF is used to mark up chart finding MAJOR support areas FIRST.
Then from the 4 hour TF please find minor areas of support. Finally the 1 HR TF is used for entry or entries!!!
Be sure to color code your markup, it is a GREAT bookmark so your not trading in the woods.
This was day trade which was held for < 12 hours.
CHART DRAWING COLORS representation:
Daily Timeframe, the outline colors around boxes are BLUE
Red color; buy liquidity areas (rejection spots)
Light blue box with BLUE outline Daily TF; area shows where price was MOST recently rejected
4 HR TF purple single lines are key areas
Purple Dotted & Parallel lines were used to make a ZONE.
Purple Dotted line; was old resistance & support broken (in 4 TF)--this area was major in the 4 TF (price came to
Grey Parallel line used in 1 HR TF (key areas)
Light Blue box with Grey outline was a comeback spot in the 1HR TF
Green shade show a MAJOR buy area from the Daily TF
OKAY GUYS SO ABOVE WAS THE MARKUP PYSCHOLOGY
Now prior to taking this trade, the Daily TF is used to mark up chart finding MAJOR support areas FIRST.
Then from the 4 hour TF please find minor areas of support. Finally the 1 HR TF is used for entry or entries!!!
Be sure to color code your markup, it is a GREAT bookmark so your not trading in the woods.
This was day trade which was held for < 12 hours.