In this video, I have broken down US500 to refine my entries. We have long term uptrend on the H4 timeframe. So we are looking for buy positions, and for that to take effect, we wait for price to retrace back to the H4 demand zone.
While the price may retrace to the H4 demand zone, in the H1 timeframe we see the price is about to change character to the downside. If this is confirmed, then we sell into the H4 demand zone.
Once the price is in the H4 demand zone, we buy and target the highs of the chart.
I hope this analysis works out he way we anticipated. If it does not, then we did our best as no one can accurately predict what is going to happen especially with trading.
Please leave a comment as I am open to differing views.
Thanks for watching.
Mathias William
Papua New Guinea
While the price may retrace to the H4 demand zone, in the H1 timeframe we see the price is about to change character to the downside. If this is confirmed, then we sell into the H4 demand zone.
Once the price is in the H4 demand zone, we buy and target the highs of the chart.
I hope this analysis works out he way we anticipated. If it does not, then we did our best as no one can accurately predict what is going to happen especially with trading.
Please leave a comment as I am open to differing views.
Thanks for watching.
Mathias William
Papua New Guinea
Comment:
Price reacted as anticipated. After change of character (CHoCH), it has broken structure to the downside with BOS. Expecting price to fall to the demand zone. Thereafter, we will look to buy.