DislikedI have a S/D ?....when the chart has bands of "congestion" thicker and thinner ones of course....how do u gauge the move typically...do you take the counter trade if that band has yet to be tested due to the fact the area serves as a barrier.....see attachedIgnored
When is it real support and when is it just a band of congestion?
Reaction.
That's as simple as it gets.
These areas can be seen on any time frame, so the question is should we assume the counter?
My answer...Nope.
Check the chart from today, and the one I posted previously HERE.
IF you traded towards the breakout zone, it is a place to exit longs, portion or all and wait for a break of this zone...
Assuming direction or speculating tops and bottoms is a great way to crush your account.
In this situation, you could assume the trade, short side and set a stop loss at daily roll. Would that pay? Time will be the teller. We have gone negative on the day with a support range just below, or @ LOD....
Summer session can be a crazy shit show for trading and finding direction as well as profit for me is easier on the fast time frames. What should you do? Study the breakouts and trade direction, same as always.
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