On the 1 hour, we see price in a current Bullish bias. This is the same bias on the 4 hour chart. But there is a strong likelihood that this Bullishness might not hold for much longer.
On the Daily chart, we see the price as being in a bearish swing. Prices had no doubt gone above the protected high last week, but unfortunately did not close above the protected high. The price went above and came back to close the daily candles below the protected high. We will therefore treat such price movement as a spike while holding on to the current bearish perspective on the daily chart.
What is my Trade Perspective...?
Because i trade the lower timeframes from off the 1 hour setup, i will still hold on the bullish perspective off of the 1 hour chart. I will look to monitor price movement and follow through as it meets each of every condntion of my Bullish trade setup.
It is only when the bullishness of the 1 hour chart is invalidated and I see a trend shift on the 1 hour from Bullish to Bearish, that I will begin to consider the Bearish perspective. And if that happens, we will be looking to trade bearish, all the way to the Daily liquidity target.
On the Daily chart, we see the price as being in a bearish swing. Prices had no doubt gone above the protected high last week, but unfortunately did not close above the protected high. The price went above and came back to close the daily candles below the protected high. We will therefore treat such price movement as a spike while holding on to the current bearish perspective on the daily chart.
What is my Trade Perspective...?
Because i trade the lower timeframes from off the 1 hour setup, i will still hold on the bullish perspective off of the 1 hour chart. I will look to monitor price movement and follow through as it meets each of every condntion of my Bullish trade setup.
It is only when the bullishness of the 1 hour chart is invalidated and I see a trend shift on the 1 hour from Bullish to Bearish, that I will begin to consider the Bearish perspective. And if that happens, we will be looking to trade bearish, all the way to the Daily liquidity target.
