Trend analysis versus range analysis.
Price moves in waves, not strait lines.
You can see the two key potential supply/profit taking zones. You dont want to buy when the CO is selling. Where does the CO sell? Where does the CO buy?
Buy low/sell high right? If you miss it or it fails to meet criteria, depending on your personal risk tolerance you let it go.
A good rule of thumb if in teh learning process: Do not enter a trade as soon as you open your chart. Assume you missed the move. Wait for profit taking to cease and for price to come to you. If you chase it, 9/10 times you will lose.
Price moves in waves, not strait lines.
You can see the two key potential supply/profit taking zones. You dont want to buy when the CO is selling. Where does the CO sell? Where does the CO buy?
Buy low/sell high right? If you miss it or it fails to meet criteria, depending on your personal risk tolerance you let it go.
A good rule of thumb if in teh learning process: Do not enter a trade as soon as you open your chart. Assume you missed the move. Wait for profit taking to cease and for price to come to you. If you chase it, 9/10 times you will lose.