bookmarking this. i will have to read it several times (there is something important here) while the market is moving and refer back to it.
DislikedI have a slightly different take on this. Keeping an eye on both small and bigger timeframe, and relevance of a critical move to both is important. Let me explain.
A major trend can be split into several stages, that would be, a) Start, b)Immediate reaction just after it starts, c) Getting momentum, d) Retrace, e) Resumption after retrace, f) one or more repeatetion of stages c) d) and e), g) Trend Exhaustion, h) Reaction / Response at trend exhaustion, and finally start of a new trend in the opposite direction repeating all stages from a) to...Ignored
All the best in your trading career.
