Attached is a classic example of how the larger time frames provide a much clearer picture. If you zoom out to your Daily TF for the EUR/USD you can see how prior resistance, once broken to the upside, becomes future support. When you add in that same area is also in Confluence with the Daily 10EMA touch, it creates a "hot zone" which is acceptable to enter. If you also scale down to a H4 chart, you will also see that the CLOSING price is always ABOVE the H4 10EMA. By looking at these larger time frames, it will help you avoid going against the trend on the smaller M15 charts during times like these...notice how even though we had red alert announcements today by Fed and Bernanke, price still respected the higher time frames...the old adage holds true, "The higher the time - the Stronger the line....just my two cents which might help some of those who solely focus on the short-term perspective....(Not sure if I uploaded the charts correctly, as I've never attached charts on FF b4)....Happy Trading all...
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Riding the order flow
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