Disliked{quote} Ok no problem. The points I'm trying to make about this situation are this: 1) There is a Daily Downtrend opposing a Weekly and Monthly Uptrend, with no single valid Demand having been removed on the Weekly and Monthly. 2) There is a very good Risk/Reward Ratio of greater than 5 to 1. 3) There is a nested Daily demand Zone within the Weekly Level that might be used to reduce risk from the Weekly Entry level. 4) The one warning is that the Weekly and Monthly TL's are broken, and so according to the rules, confirmation of new Demand is required...Ignored
Hi Steve, i want to try to answer your question with this pictures:
The monthly is up, and is important where the price is right now and what is it behavior in this point can you see it?
The weekly is DOWN because we have LH and LL use the fractal b williams to see much better
and then the daily was in a downtrend (we should take the last two picks) but this is broken and now we have a demand zone (not that great by his formation but...) that cost the broke of trendline, it is 2:1 so we can try to buy in this zone ( the zone is overshot by two pips right now)