487792 Structure (s)Basically iam taking a look at the larger picture by evaluating the current / tendency we are at on the weekly TF
to acquire the context, then watch where we exchange within that context on the daily TF and evaluate the current condition of teh market
then look at the H! And watch out for anything that I wish to exchange, like a change or breakout or retracement, depending on PA and loctaion, finally I get into the 1min TF and plan the transaction, execute it and handle it
just said:context, loion, price action
in the case of EU it might look something like this:
Context: (weekly)
we are still in downtrend and price refused the suppyline and broke a demandline
which is a indication of weakness
Loion: (daily)
the selling pressure increased, towards a minor support level of 08150ish
price reacted in the round number of 0900 and broke a small supplyline
Price action: (hourly)
the rally towards a fromer minor busted range, with res. 10800(50%indicate ) and sup. 10240
on increased momentum, but seems to reject the broken support level,
Plan:
in this case iam looking for a brief setup close to the broken support degree,
that I wish to find the demandline busted, and enter on a retr. Woth a sellstop beneath the retr.
Teh SL would be in the intermediate high at arround 0200
targeting the 50% retracement of this current rally in 09660 ish. .
Managing the position on every reaction off a demandline across the way ie. Reducing risk
entrance: XXX depends on PA. .
SL: 0200
TP: 09660 * goal is not repaired may hold for further disadvantage potential
approx RR 1:3
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