Hi guys,
Let see if someone can help me here,
I have been reading the thread from the beginning and the most important lesson is to learn to read the background. If you know how to read the background and find if there is weakness or strength it does not even matter if you have a bad entry since the wind is at your back (I’m not saying that is not important to get a good entry, what I’m saying is that people focuses more on the entry and if you get a no demand bar and so on than on reading the background).
But then I also read many many times that no a single bar can change the market, and yet what I see from everyone that they look for just 1 bar being a selling climax, hidden selling or whatever pattern, what most people look is for a big spread candle on very high volume.
I know the formations, the volume and all that kind of staff terminology and so on, and I’m able to read the single bars and find the weakness on a single bar but I’m not able to read or understand how to read the background. I may see in an uptrend a wide range bar that is down with big volume and 5 bars later I may see the opposite, obviously you cannot tell what to do, just with mentioning that you have 2 bars what I mean is that you get different signals, is not 10 bars in a row showing signs of strength or 10 bars in a row showing signs of weakness. Is more like 2 bars with signs of strength, then 1 with sign of weakness ….. and so on. which one does have more importance. that is my consfussion.
If anyone could point me on the right direction I would really appreciate
Please help
Thanks
Kind regards
Let see if someone can help me here,
I have been reading the thread from the beginning and the most important lesson is to learn to read the background. If you know how to read the background and find if there is weakness or strength it does not even matter if you have a bad entry since the wind is at your back (I’m not saying that is not important to get a good entry, what I’m saying is that people focuses more on the entry and if you get a no demand bar and so on than on reading the background).
But then I also read many many times that no a single bar can change the market, and yet what I see from everyone that they look for just 1 bar being a selling climax, hidden selling or whatever pattern, what most people look is for a big spread candle on very high volume.
I know the formations, the volume and all that kind of staff terminology and so on, and I’m able to read the single bars and find the weakness on a single bar but I’m not able to read or understand how to read the background. I may see in an uptrend a wide range bar that is down with big volume and 5 bars later I may see the opposite, obviously you cannot tell what to do, just with mentioning that you have 2 bars what I mean is that you get different signals, is not 10 bars in a row showing signs of strength or 10 bars in a row showing signs of weakness. Is more like 2 bars with signs of strength, then 1 with sign of weakness ….. and so on. which one does have more importance. that is my consfussion.
If anyone could point me on the right direction I would really appreciate
Please help
Thanks
Kind regards
3