QuoteDislikedSo although there's been a LL on 5min its not going to be an easy straightforward sell especially if 440 holds. And I have to follow the peak and trough and 1h!
5min I have LH and LL
1h there's not even a LH! and I must follow the bigger TF but I can't completely disregard 5min can I ?
This is complex.
Let's get through this step by step as far as cause and effect is concerned on 1h my eye is on 505 "the cause" had happened now the effect might follow up keeping that in mind and also the absence of LH and LL there's a good chance this will go up.
However on 5min I see LH and LL upward channel has also broken on 1h so trouble is boiling despite the absence of LH and LL on 1h. Low peak is at 440 so if I get a higher trough above 440 I should go long ?
yeah that's it I think 1h is up for now however since there's been a LL on 5min I need to wait for HL on 5min before going long ?
that's the plan .
t
No it's a bad idea to sell.
LONG from 440 first target 471.
Tape reading is an ART