A simple four step process:
Step 1: Identify Behaviour
Wait for price to show signs of weakness or strength. Use multiple timeframes to identify correlation. Monitor how the candles are reacting during high peak periods.
Step 2: Always wait for momentum to shift in your direction. Big engulfing candles represent volume. Wick rejections represent market conditions failing to go in a certain direction.
Step 3: Next look for identifiable patterns. Double tops/bottoms, retests and breakouts.
Step 4: Look for entry signals. Use key levels for higher probability setups.
This is your guide to structure trading and what I like to refer to as Keeping It Simple!
Step 1: Identify Behaviour
Wait for price to show signs of weakness or strength. Use multiple timeframes to identify correlation. Monitor how the candles are reacting during high peak periods.
Step 2: Always wait for momentum to shift in your direction. Big engulfing candles represent volume. Wick rejections represent market conditions failing to go in a certain direction.
Step 3: Next look for identifiable patterns. Double tops/bottoms, retests and breakouts.
Step 4: Look for entry signals. Use key levels for higher probability setups.
This is your guide to structure trading and what I like to refer to as Keeping It Simple!